TATA Power’s intention to Set Up 500 EV Charging Stations Across Various Cities in India Would Propel the Overall EV and EV Charging Infrastructure Market in India.
31 August-2019, India: Tata Power, part of the Tata Group has voiced intentions to set up 500 electric vehicle charging stations in various cities in India including Mumbai, Delhi, Bengaluru, Hyderabad, Indore, Vijayawada, and Hosur. The company jumped the wagon to install electric vehicle charging stations across India and is the first big name to do so. On the other hand, the Government of India is pushing the electric vehicle penetration in India by announcing a slew of tax cuts and benefits on the EVs, right from GST cut to tax free registration. However, growing EVs means India needs proper charging infrastructure, which is currently at its nascent stage. Since the cars, battery technologies, charging standards are still under various stages of evolution we are looking at an infrastructure which would be future ready.
MCG finds out that the increasing supportive initiatives by the government to accelerate the growth of the EV and EV charging station market is driving the electric vehicle (EV) charging station market over the future period. Government of India’s first strategy is to tie up with Oil Marketing Companies (OMCs) like Hindustan Petroleum Corporation Ltd, Bharat Petroleum Corporation Ltd and Indian Oil Corporation Ltd. They will be working with them to establish and expand out charging network. The understanding is to collaborate in planning, development and operation of charging infrastructure for electric vehicles (e-cars, e-rickshaws, e-bikes, e-buses, etc.), at suitable locations across India.
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