India needs to set up 46,000 electric vehicle charging stations by 2030 to reach the global benchmark, suggests a white paper released on Friday. EV charger ratio is 6 both for China and the Netherlands, 19 for the US, while it stands 135 for India. That means there is one charger per 135 EVs in India compared to 6 in China, the white paper by Alvarez and Marsal, a global professional services firm, stated.
The paper was launched at an electric vehicle conference, The EVConIndia 2022, here.
Paper highlighted some key challenges affecting EV adoption and talked about six key issues of affordability, range anxiety, supply chain, product safety & quality, and inadequate access to financing.
With a large automotive industry and pollution issues, India is ripe for innovation and rapid adoption of EVs in times to come, it said.
Sub-segments of the industry can grow at a compounded average growth rate of 50-100% over the next five years if supply chain, product safety, product and battery innovation, charging infrastructure, and financing obstacles are removed, the paper suggested.
If you have an interesting Article / Report/case study to share, please get in touch with us at editors@roymediative.com/ roy@roymediative.com, 9811346846/9625243429.
