Infra status unlikely for EV charging in budget

Despite demands from the electric vehicle (EV) industry, the government may not grant 'infrastructure industry' status to the charging infrastructure sector in the upcoming budget on February 1, two people aware of the development said.

- Manas Pimpalkhare & Rituraj Baruah

NEW DELHI:

An infrastructure industry status, which allows stakeholders to secure credit at lower interest rates, is unlikely to be granted in the near term, the people mentioned said, because provisions to boost the charging infrastructure are already provided for in the PM E-drive scheme, in operation since October 2024.

The scheme, the third to incentivize adoption of electric vehicles in the last decade, has allocated ₹2,000 crore for setting up public charging stations over the next two years.

Public sector oil marketing companies have also undertaken a massive EV charging infrastructure expansion with a projected cumulative capex of ₹20,000 crore.