India needs Rs 16,000 cr capex to meet public EV charging demand by 2030: Report

NEW DELHI: India needs capital expenditure to the tune of Rs 16,000 crore to meet the country’s growing public charging demand for electric vehicles (EVs) and achieve the mission of over 30 per cent electrification by 2030, according to a report released on Monday.

The FICCI report on “Electric Vehicle Public Charging Infrastructure: 2030 Roadmap” reveals that the current financial viability for public charging stations in India remains low with utilisation rates of less than 2 per cent, and to achieve profitability and scalability, “we need to aim for an 8-10 per cent utilisation by 2030”.

“For instance, the current cost structure of electricity tariffs with fixed charges regardless of energy consumption combined with low utilisation at public charging stations is making it challenging to achieve break even. States like UP, Delhi and Gujarat have no/low fixed tariffs but there are other states where fixed tariffs are high, thereby challenging the viability,” FICCI said.