India must install 1.32 million EV chargers by 2030 to meet demand: CII Report

New Delhi, July 26 (KNN) India needs to have approximately 1.32 million Electronic Vehicle (EV) chargers by 2030, as per a recent report by the Confederation of Indian Industry (CII).

To meet the anticipated demand, India has to install over 400,000 EV chargers annually.

The report, the second in the series on "Roadmap for Future Mobility 2030" produced in collaboration with Edelman, outlines the importance of charging infrastructure to keep pace with the rapid growth of electric vehicles in India.

Government initiatives have led to increased consumer acceptance of electric vehicles. In 2022, there was a threefold increase in EV adoption over the previous year. 

If the current trend of 40% year-on-year growth continues, the report predicts that 106 million EVs will be sold annually by 2030.

To accommodate this growth, the report suggests that India must maintain a 1:40 charging infrastructure to EV ratio. 

This would require the installation of more than 400,000 chargers per year, leading to a total of 1.32 million chargers by 2030.

Vipin Sondhi, Chairperson – CII National Committee on Future Mobility 2022-23 (last year) and Former MD & CEO, Ashok Leyland and JCB said, "The Government of India has set the ball rolling on accelerated adoption of EVs, aiming to achieve sales penetration of 30 per cent for private cars, 70 per cent for commercial vehicles, and 80 per cent for two and three-wheelers by 2030. The foundation for this will be laid by the creation of robust charging infrastructure.”

The sheer extent of charging infrastructure that will need to be set up in India provides the economies of scale needed to turn the country into a global manufacturing hub for charging stations, in turn leading to job creation and exports, he said.  (KNN Bureau)