India is playing an amazing role in the electric vehicle boom that is taking place globally but the country needs to catch up with other countries that are outperforming it in terms of the infrastructure they offer. EV charging facilities have become the need of the hour now and despite the Government’s best efforts to set up thousands of EV charging stations, India still has a lot to do before it can match top countries such as China or the USA.
White paper released by the firm recommends 46,000 EV charging stations:
Alvarez and Marsal, a global professional services firm suggest that India needs to install a minimum of 46,000 electric vehicle charging stations in the upcoming 8 years to be able to compete with China and the USA. As of now, the ratio of charging stations in comparison to the electric vehicles on the road is dismal in India.
The paper that was launched at an event surrounding EVs elaborated on the global average when it came to EV infrastructure. In China, there is one EV charging station for every six electric vehicles on road, the Netherlands is another country that has an impressive ratio, and finally, the USA has one station for every 19 electric vehicles. India has just one station for 135 vehicles.
Besides the lack of necessary infrastructure, the paper also highlights other challenges such as high prices, range anxiety, and safety among some other reasons why EV adoption in India is progressing at a snail’s pace.
“We believe that if these issues can be addressed by a concerted effort by the industry along with the government support. India can potentially become one of the leading markets and manufacturing hubs globally for the EV segment,” Manish Saigal, the MD at Alvarez & Marsal India stated.
Sudhendu J Sinha, Adviser on Infrastructure Connectivity and Electric Mobility at Niti Aayong in a statement said, “It is vital that the quality standards are top-notch, the businesses must have better control over the supply chain, and ethics should be the unshakable backbone of the industry.” He went ahead to clarify that India intends to become the top EV manufacturing hub in the world and lead the export sector for EV batteries and other components.
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