E-vehicles: Companies plan major investments in infrastructure, batteries

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India Inc. has planned for major investments in the domain of e-vehicles. This includes the implementation of an efficient charging infrastructure and availability of batteries. The purchase of electric cars and three-wheelers is also being leveraged. The move is in alliance with the government’s vision of an all-electric fleet of vehicles on Indian roads by 2030.

Several companies have planned to invest in the ambitious government project for e-vehicles by establishing charging stations and supplying batteries.

The government has confirmed that it has held several discussions with more than 50 foreign and domestic companies for the implementation of a suitable infrastructure for the project. The infrastructural efficiency will be a vital component in the success of the ambitious e-vehicle project.

It is understood that multiple taxi aggregators like Ola are thinking of purchasing e-rickshaws and other electric three-wheelers in bulk and leasing them out to expand their portfolio.

A top official closely associated with the government’s e-vehicle initiative has confirmed that Tata Power, Acme Industries, ABB, and some Dutch companies are interested in setting up charging stations for e-vehicles. Moreover, Amron Batteries, Exide Industries, and Microtek are considering supplying batteries. These firms would also facilitate the swapping of drained batteries with charged ones by setting up bulk shops for the same.

Praveer Sinha, the chairman and MD of Tata Power Delhi Distribution Ltd. mentioned that the firm is planning to get into a partnership with the Municipal Corporation of Delhi and Delhi Metro Rail Corporation (DMRC) to organise a network of charging terminals, primarily at metro stations.

Sinha stated that a fast-charging outlet would require about Rs.25 lakh in investment, while the expenses for a slow-charging terminal would be about Rs.1 lakh. The estimate is that in 5 years of implementation of the system, there would be a requirement for 300 charging stations (each with 4-5 charging slots) in an area of 3 km. This implies that the cost of establishing charging stations across Delhi alone would be around Rs.3,300 crore during the 5-year period.

The National Thermal Power Corporation (NTPC) and Power Grid Corporation of India are also in discussions with DMRC for space to set up fast-charging stations. These two companies plan to buy batteries in sizeable numbers and lease them out as well.

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