The Financial Express

India eyes Rs 420b electric vehicles mkt by 2030

| Updated: April 24, 2019 18:17:07

India eyes Rs 420b electric vehicles mkt by 2030

At least half a dozen public sector firms, Indian Railways and various ministries are in the process of creating infrastructure and manufacturing components for electric vehicles to support the government's vision in the electric mobility space.

While many are looking to diversify, the main focus is to tap into the Rs 420.00 billion market by 2030, according to a report by Business Standard.

Significant investment is being mobilised by public and private sectors to manufacture and install electric vehicle supply equipment (EVSE) infrastructure across India.

This includes charging and battery swapping technologies, says Niti Aayog. Both charging and swapping solutions are supported by business model innovation that enable high utilisation of infrastructure.

 Plans are underway to fuel EVs with clean power, with industry players exploring solar-plus-EV technology in Mumbai.

Indian Railways has decided to allocate space for electric vehicle charging stations at their station parking lots along with private sector participation.

BSES Rajdhani Power Limited (BRPL), a JV of Reliance Infrastructure Ltd and Government of NCT of Delhi, plans to convert its entire service delivery fleet into an electric one by 2030.

BRPL is also investing in testing models for its facilities to support stabilising the electricity grid for EV charging, as well as pilots for how to effectively integrate renewable electricity (RE) into its grid network.

Indian Oil Corporation has partnered with clean energy firm Fortum India for EV charging stations and started with Nagpur, Hyderabad, Kolkata and Delhi.

The company also signed MoUS with NTPC, Powergrid and Rajasthan Electric to install EV charging stations in various cities.

The public sector firm also said that on the avail is a next generation energy storage product to cater to EVs. The idea is to go beyond lithium ion batteries in view of their limitations.


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