India's Big Push: EV Charging Infrastructure Investment

India needs USD 20-30 billion investment to boost EV charging infrastructure, as current growth is at 25-30%. The PM E-DRIVE scheme, with Rs 10,900 crore, will support millions of electric vehicles and thousands of charging sites, fostering EV adoption and replacing the FAME programme.

India is looking at a significant investment boost for its Electric Vehicle (EV) charging infrastructure, according to industry insights from the India Energy Storage Alliance (IESA). The sector, still in its nascent stages, could benefit from USD 20-30 billion to accelerate growth, says IESA President Debi Prasad Dash.

Currently growing at a robust rate of 25-30%, the EV charging infrastructure's expansion could be doubled with this proposed investment, Dash pointed out during the 'IESA India EV Fast Charging Summit' in New Delhi. The need for such an infusion of capital is underscored by the recently approved PM E-Drive Scheme.

The PM E-DRIVE Scheme, designed to replace the longstanding FAME programme, allocates Rs 10,900 crore over two years to support electric vehicles and thousands of charging sites. The initiative aims to support over 24 lakh two-wheelers, three lakh e-three wheelers, and about 14,000 e-buses, promising a substantial boost for India's EV adoption.

(With inputs from agencies.)