Following the route of technological advancements in the era of the fourth industrial revolution, the automobile market of India has witnessed the largest turnover over the last few years.
Dominating the sales performance of India, the introduction of Electric Vehicles, with the self-proclaimed target of achieving sustainable mobility, has provided a golden opportunity for India’s entrepreneurial class to show their talents.
Charging Infrastructure is one of the most promising businesses that have captured the attention of many big organizations that aimed to enter the booming industry of EVs.
Not to mention that establishing an EV charging station in India is a highly profitable business opportunity with the incentives offered by central as well as state governments.
With the advent of Electric cars gaining more and more popularity, specifically after the introduction of India’s most affordable EV launched by Tata Motors, people are clamoring to get their hands on electric vehicles.
Under the increasing support from various state EV Policies, many start-ups are focusing on establishing EV Charging Stations in India in the upcoming years.
If you are planning to invest in establishing an EV charging station, there are a few key points you must remember first. Here’s a Guide on How to Set Up EV Charging Station in India.
Guide for Setting up EV Charging Station in India
Counting the various factors that an EV start-up has to consider if they want to establish EV Charging Station in India includes,
Check the Feasibility of Investing in an EV Charging Station
With the government offering its full support in promoting the electric mobility ecosystem in India, according to the infrastructure guidelines, it is compulsory to set up an EV Charging Station in India every 3 km in cities and 25 km on Highways on both sides. Also, there should be an EV Charging Station in India at every 100 km on both sides of the road for long-range and heavy-duty vehicles.
In efforts to create a sustainable ecosystem for the mass adoption of EVs, the Government of India has made it license-free for any person to set up an EV charging station in India under the guidelines of the Power Ministry of India.
Costs for Setup, Infrastructure & EV Charger
Before preparing to enter the fast-moving world of EVs, a start-up must consider the hidden costs of setting EV Charging station in India which generally varies from Rs. 1 Lakh to Rs. 40 Lakhs depending on the types of chargers and how large of an investment one is willing to make in its infrastructure.
Stating out the standard requirements issued by the government for different types of EV chargers include,
|Charger Type||Charger Connectors||Rated Voltage (V)|
Electricity & Software Costs
According to the latest government guidelines, every public EV Charging station in India must have at least three fast (DC) chargers and two slow (AC) chargers. This increases the cost load for huge electricity consumption as well as the technical aspects of purchasing the software for developing unique EV chargers.
Manpower & Maintenance Costs
To establish a successful business EV Charging Station in India, one would need 1 skilled and 1 unskilled labor as well as a power connection of t least 50 KW is mandatory.
Advertising & Marketing Costs
Even after the owner has developed a unique EV charging ecosystem and has launched its product in the vast market, advertising as well as the marketing of your business and offerings is a hassle if not handled properly. Thus, adding other costs to your budget.
Stable Business Revenue Model
One cannot start a business without having a clear idea of the type of business revenue model one should go for. Similarly, while setting up EV Charging Station in India, a stable model should be drawn out beforehand.
Perks of Establishing EV Charging Station in India
Listing out some of the perks of setting up EV charging Station in India,
- Moving towards an era of electric vehicles wherein ICE vehicles are soon getting replaced with electric vehicles, high demand for EV charging stations is going arise in the country.
- Under the government’s various schemes and subsidies for setting up EV charging Station in India, the profits and growth for entering this developing market are endless.
- Compared to other IT-based businesses, the cost of setting up an EV Charging Station in India is low at this point, and revenues would increase year by year.
- Helps in promoting India’s initiative of Go Green.