EV Charging for IndiaIbeyonde
Fossil fuel-powered vehicles have become part of human lifestyle starting the 20th century. Now we are seeing a shift from fossil fuel to alternative fuels, chief among those is the use of electricity. The battery provides the power, and it can be either charged without dismantling or swapped at a charging station. Many players are currently active to define and refine various components required in the electric vehicle charging (India EV Charging) space. Several standards across multiple geographies have come up.
India EV Charging
The EV (Electric Vehicle) Charging market is growing at a compound rate of 30% to reach a valuation of about 35 billion USD by 2025. Out of which 45% is home charging market. With Indian govt push for cleaner fuel and EV, we expect this market to be very healthy in India. India is targeting 6-7 million vehicles by 2021. As per the typical pattern, we can safely assume that about 45% of these car owners will want to charge their EVs at home. That is a vast and profitable market to cater to.
India is a market with its typical issues. Due to the thick population densities, space is always a crunch. City homes are mostly high rises. In the West, where each home can install their private CP (charge points). In India, due to space constraints and cheap labour, a multi-tenant CP will be most effective. All these constraints will require a network of multi-tenant charge points that are easy to use. These will be powered by the smart backend to provide valid variable pricing and less wait time. Mobile apps will accompany backend that will keep the customer posted. Apartment owners will be stakeholders in the scheme. They will make money out of CP as well as provide convenience to their dwellers.
Self-service and Multi-tenant Solutions
In India, self-service and multi-tenant solutions will thrive. These are based on Type 2 AC fast chargers, for apartments powered by 3 phase electricity that is abundantly available in such complexes. This type of charging is going to dominate the market . The ideal charging solution will offer customers a one-stop-shop offering of EV charging as a service. There is a lot of scope for machine learning and artificial intelligence to make the charging convenient for a demanding Indian market.
There are existing companies like Chargepoint and Evercharge that are already providing solutions for western markets, though they have the right technology they still have to deal with issues that are India/Asia specific.