According to a new report released on Tuesday, India’s e-mobility initiative is moving quickly, with 45–50 million electric cars (EVs) expected to be in use worldwide by 2030. According to a KPMG in India analysis, the ready availability of slow and fast chargers ensuring quick access to effective and cost-effective charging is a major facilitator of EV adoption as the electric vehicle ecosystem evolves at a rapid rate.
More EVs on the Road
As per Rohan Rao, Partner, M&A Consulting, KPMG in India, “Development of a strong charging network has gone hand-in-hand with increased EV adoption across the world, and we anticipate a similar pattern is expected to play out in India.”
As per the paper, charging technologies will change depending on the type of vehicle, and both public and private charging solutions will be implemented to cater to various client segments and use cases.
About the Slow Charging
The optimal power ratings for AC slow charging are 2Ws and 3Ws. The more common model for use scenarios requiring quick charging turnaround is probably battery switching, it was added. The Indian market is predicted to feature a dense network of AC private and public chargers, as well as a few use cases for 4Ws and LCVs and DC charges that are restricted to buses.
According to the paper, home and workplace charging will likely have different expectations than destination or on-the-go charging, which will have different expectations than fleet charging.
The results demonstrated that real estate strategic relationships and service provider/CPO interoperability are essential to enhancing client proposition. Rao continued, “There is a huge potential market for a pure play charging business with an anticipated 50 million EVs on Indian roads by 2030.
Read More: Nord Stream 1: Major gas pipeline to Europe is shut off by Russia