Date: Jan 14, 2018
Category: Automotive Industry
Nitin Gadkari the Minister for Road Transport & Highways of India has recently made a bold statement; “Be under no illusion about the Indian government’s determination to make the switch to alternative vehicle fuels, “I am going to do this, whether you like it or not. And I am not going to ask you. I will bulldoze it”. The corner-stoned plan of the government is to make India less polluted and more environmental friendly by shifting to electric vehicles. Currently the government is experiencing 50,000 motor registration per day. At this rate of demand, the country will require 8 times the total supply of electric vehicles globally.
Additionally, government is highly unlikely to create a nationwide charging infrastructure. It may gradually increase the entrants of EVs which will make it mandatory for different commercial entities to develop their own charging points, eventually supporting the EV infrastructure. It is estimated that India will home more than 30 Million EVs by the end of 2040 and currently, there are just about 200 charging stations whereas 56,000 fuel stations. This huge difference exhibits the massive demand of charging infrastructures in India. Different market research states that India is likely to offer the highest growth opportunities of more than 35% of annual growth in terms of Electric Vehicles (EVs) and its Electric Charging infrastructures.
Source: News articles & industry magazines