Any business model aimed to achieve a lofty goal strives for a competent workforce, adequate capital investment and profitable partnership.
Keeping these factors in mind, the Government of India has reached a commendable conclusion of including private players in the nation-building projects to gain swifter results and higher efficiency.
Targeting an ambitious goal of attaining 100% electrification in India by 2030, the Indian government has recently revised its Public Private Partnership (PPP) guidelines to accommodate an easy entryway for big techs.
Making 360-degree efforts in upgrading the public charging infrastructure in the country which is the need of the hour, the Indian government has charged forward towards this initiative by involving private and public agencies like BEE, EESL, PGCIL, NTPC, etc.
Sensing the growing influence of EV industry, many private organizations have also stepped forward in the EV charging space to develop a robust charging network grid to gain consumers’ confidence.
Following the PPP model initiated by the government, many private players and businesses have started showing their interest in this fast-developing industry thus, encouraging the types of EV Partnerships in India.
EV Partnerships in India are not only limited to charging operators but expand their roots in various parts of the industry ranging from EV fluids, electric powertrains, and other parts of the EVs.
Nonetheless, before breaching the topic of exploring the Role of EV Partnerships in India, let’s acquaint ourselves with the structure and nuances of the PPP model.
Public-Private Partnership (PPP) Model-What is it?
Described under the type of investment model, Public Private Partnership is a joint effort between a government agency and a private-sector company that comes together to complete a big project that requires financial aid, building expertise, and operationalizing projects related to nation building like public transportation networks, parks, and convention centers.
Financing such a project through a public-private partnership can enable a project to be completed sooner or speed up its possibility of a successful venture.
Public-private partnerships support large-scale government projects, like building roads, bridges, or hospitals, to be completed with private funding.
Generally, these types of investments are undertaken by a private sector entity for a specified period and therefore a popular choice for EV Partnerships in India.
Under this PPP model, the work gets done by utilizing private sector technology and innovation which is then combined with public sector incentives to complete work on time and within budget.
Role of EV Partnerships in India
Enhancing its efforts to support the high potential industry of electric vehicles, many state governments have come up with their own Electric Vehicle Policies and have started inviting bids for building an EV charging infrastructure under EV Partnerships in India with the PPP model.
One of the most recent examples of this is Madhya Pradesh Government wherein Smart City company has signed a contract with a Chartered Company under which, the Chartered Company will operate 1000 EVs in the city under PPP model.
Another name in this list is that of BESCOM or Bangalore Electricity Supply Company Limited which is currently seeking proposals from interested agencies for establishing EV charging stations at government-owned locations in Belagavi district under HESCOM or Hubli Electricity Supply Company Jurisdiction under the PPP model.
Taking another stride in EV Partnerships in India, the West Bengal State Electricity Distribution Company Ltd (WBSEDCL) also invited bids for setting up electric vehicle charging infrastructure in October 2022 under PPP to boost e-mobility in the state.
Before this, Telangana State Government had also revealed its plan to build 1,000 EV charging stations in the state to meet the growing demand for eco-friendly transportation which forms another example of EV Partnerships in India.
Following the examples of EV Partnerships in India, CESL, a wholly-owned subsidiary of Energy Efficiency Services Ltd (EESL) operated under the Ministry of Power, has decided to rope in the private sector in building 810 electrical car charging stations throughout 16 highways and expressways that covers 10,275 kilometers throughout the nation.
Apart from the PPP model, other private players are also understanding the Role of EV Partnerships in India and have started forging profitable collaborations to stay ahead in the race.
Prime examples of these EV Partnerships in India are the collaboration of Exponent Energy, a start-up, and Altigreen Propulsion Labs to develop an e-pack & e-pump that makes EVs charge faster while lasting longer and have 3000 cycle life warranty.
Mahindra & Mahindra has revealed another example of major EV Partnerships in India with its alliance with Charge+Zone to establish a network of charging stations for its electric SUVs.
Similarly, Tata Power has inked a strategic partnership with Hyundai Motor India Limited (HMIL) to establish a robust EV charging network across India.
Expanding its reach in last-mile delivery services, Magenta Mobility has teamed up with Amazon India to set up a fleet of electric two and four-wheelers for its delivery partners in Hyderabad.