Depleting fossil fuel reserves and increasing global emissions has forced mankind to switch to cleaner energy. To make the earth a cooler planet world have started adopting electric vehicles as the primary mode of mobility.
India is no different from the world. Here too, the government is paying special attention to the adoption of electric vehicles. In India, various makers are continuously engaged in manufacturing electric vehicles. The picture is almost clear, the future of mobility is EV. As per a recent IEA report, almost 90% of the chargers worldwide are private light-duty vehicle slow chargers in homes, apartment buildings, and workplaces. Hence, it is imperative to create augmentation plans for setting up charging infrastructure across geographies. This provides a good opportunity for us to invest in a future demand-oriented business. Today, in this article, we will tell you about investing in EV charging infrastructure.
What is an EV charging station?
Just as fuel stations have been set up for CNG, petrol and diesel vehicles, similarly the electric charging stations for charging electric vehicles are also being established. Many such electric charging station setting companies are emerging around the world, which give their franchise to the people and allow the people to start the business of electric charging station by partnering with them. If you have good funds then you can start your own electric charging station or you can also take franchisee of any company.
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Ideal location:
There could be various ideal locations according to the area. However, one can start an electric charging station outside a major bus stand, outside a railway station, near a petrol pump or a shopping mall. Besides, EV charging stations can also be set adjacent to food outlets on the highways.
Process:
For opening an EV charging station, you can apply directly to the Ministry of Power. Otherwise, you can also start the business of electric charging stations by taking a franchise of any other registered company.
Costing:
It depends on whether you want to open your own charging station or want to do this business by taking a franchise of a company. You may have to spend around INR 5-10 lakh, if you are taking a franchise of a company. Whereas, if you want to open your own electric charging station, then for this you will have to invest around INR 30-40 lakhs.
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Government support:
So far no information has been given by the government about the subsidy for the electric charging station business. Although the budget of Rs. 1000+ crore has been fixed by the government for subsidy.
Profitability:
Earning from electric vehicle charging station depends on how much money you charge from vehicle owners in exchange for charging, as well as it also depends on what type and type of charging station you have and influx of vehicles. One thing is certain that this business has a very bright scope in the future.