HomeNewsTechnologyAutoCharging infrastructure to haunt owners as more auto cos fast track EV projects

Charging infrastructure to haunt owners as more auto cos fast track EV projects

Indian companies have fast-tracked their electric vehicle projects to meet the government set deadline of 2030

January 02, 2018 / 11:11 IST
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Swaraj Baggonkar Moneycontrol News

From car market leader Maruti Suzuki to billionaire Sajjan Jindal’s JSW Group to motorcycle specialist Bajaj Auto, everyone is finding the electric vehicle (EV) market way too lucrative to avoid.

These companies have fast-tracked EV projects, set up crack teams under new verticals, forged cross-border alliances and drawn lengthy brand-oriented strategies to hit the electric freeway.

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Sales of all EVs (including two, three-wheelers and buses) last year stood at 25,000 units of which 92 percent were two-wheelers and just 8 percent were four-wheelers. In comparison, more than 3 million vehicles powered by fossil fuels were sold in the same year.

But the ratio of charging stations to new electric vehicles is much better when compared to fuel stations for all new petrol/diesel-powered vehicles. At about 500 charging stations each such station covers 50 new electric vehicles as of now.