HUGE CAPEX NEEDED TO MEET EV CHARGING DEMAND

India would require capital expenditure to the tune of Rs 16,000 crore by 2030, to meet its public EV charging demand and to achieve the mission of over 30 per cent electrification, as per a report by industry body FICCI.

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According to the FICCI EV Public Charging Infrastructure Roadmap 2030 put out on Monday, to achieve profitability and scalability, India needs to aim for higher utilization of charging stations.

The report further suggests that the top 40 cities could be prioritized for scaling up public charging infrastructure.

The report argued that those top cities are expected to have higher EV penetration in the next 3-5 years given the current EV adoption rate, and favourable state policies.