NEW DELHI: India’s electric vehicle (EV) charging network is expanding at a rapid pace, with public charging stations witnessing a nearly five-fold jump from FY22 to early FY25, according to a report by CareEdge Ratings. The number of EV public charging stations rose from 5,151 in 2022 to 26,367 by early FY25, reflecting a strong compound annual growth rate (CAGR) of around 72% over the three-year period.The analysis indicates a compound annual growth rate (CAGR) of approximately 72 per cent across the three-year span from FY22 to FY25.The report said that, “Charging infrastructure is scaling rapidly, with public EV stations growing over 5x from FY22 to early FY25.”This substantial expansion is attributed to robust initiatives from both central and state administrations. The national government has intensified its efforts to enhance public charging infrastructure nationwide.Various state-specific EV policies are contributing significantly by drawing investments from both government and private sectors, ANI reported.This expansion demonstrates the administration’s dedication to promoting electric vehicle adoption across the country.Furthermore, the Production Linked Incentive (PLI) Scheme for battery production, coupled with duty relief on essential minerals, is anticipated to decrease India’s import reliance by up to 20 per cent by FY27, potentially reducing EV costs and overall ownership expenses.Nevertheless, the analysis identifies a disparity between EV adoption and charging infrastructure development. Present statistics show one public charging station serves 235 electric vehicles.The report notes, “With only 26,367 public EV charging stations available, India currently has around one charger for every 235 EVs on the road.”This situation emphasises the requirement for accelerated development of charging facilities to accommodate the rising electric vehicle sales.Despite rapid expansion in India’s EV charging network, more proportionate growth is essential to adequately support the shift towards electric transportation.
