How to Start an EV Charging Station Business
If you were to glance at the vehicles traversing an average Indian road, you'd likely spot a significant number of electric vehicles (EVs) among them. Just in January 2024, approximately 1.4 million EVs were registered in the country. The shift from traditional Internal Combustion Engine vehicles to EVs has gained momentum due to India’s FAME subsidy and concerted efforts to encourage consumer adoption. This transition has even enticed major four-wheeler manufacturers to join the EV market. The increasing presence of electric vehicles in India's automotive landscape reflects a broader industry trend towards e-mobility, driven by environmental concerns and government support.
Nevertheless, the insufficient charging infrastructure remains a significant obstacle to widespread EV adoption, particularly in urban hubs, smaller towns, and highways. "Range anxiety," a common worry among EV users, can significantly influence purchasing decisions. With NITI Aayog projecting EVs to capture 30% of the market by 2030, there's a lucrative opportunity for entrepreneurs to establish an EV charging station business and cater to this growing demand.
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