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State of the-Indian Electric Vehicle Infrastructure Market (An In-depth analysis on EV Charging Infrastructure Guidelines by Indian Government)-By Mirdul Amin Sarkar

State of the-Indian Electric Vehicle Infrastructure Market (An In-depth analysis on EV Charging Infrastructure Guidelines by Indian Government)-By Mirdul Amin Sarkar

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Electric Vehicle(EV) is the sexiest transportation system of the 21st century. In India, Electric Vehicles (EVs) are the new talk of town not only because it helps to reduce emissions, but also they give the owner a status in society, that of one conscious of the environment, a green crusader of sorts

Electric Vehicle(EV) is the sexiest transportation system of the 21st century. In India, Electric Vehicles (EVs) are the new talk of town not only because it helps to reduce emissions, but also they give the owner a status in society, that of one conscious of the environment, a green crusader of sorts

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State of the-Indian Electric Vehicle Infrastructure Market (An In-depth analysis on EV Charging Infrastructure Guidelines by Indian Government)-By Mirdul Amin Sarkar

  1. 1. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 1 State of the Indian Electric Vehicle Infrastructure Market (An In-depth analysis on EV Charging Infrastructure Guidelines by Indian Government) Authored by : Mirdul Amin Sarkar (Senior Research Analyst, BWC) December 2018 WWW.blueweaveconsulting.com
  2. 2. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 2 TableofContentIntroduction 3 1. Electric Vehicle Market Outlook in India 4 2. Indian Government Policy Landscape to Promote EVs & Minimize IC Engine Vehicles 6 2.1. Faster Adoption and Manufacturing of Electric Vehicles (FAME) 6 2.2. NITI Aayog’s Three Phased approach for adoption of EV/ HEV 6 3.India EV Industry Restraints & The Way Forward 7 3.1. High Price of EVs 7 3.1.1. The Way Forward 7 3.2. High Cost of Battery 8 3.2.1. The Way Forward 8 3.3. Lack of Infrastructure 9 3.3.1. The Way Forward 10 3.3.1.1.Electric Vehicle Charging Infrastructure Guidelines by Indian Government 10 3.3.1.2. India Electric Vehicle Charging Station Market Outlook 12 3.3.1.3. Growth Potential Analysis: India EV Charging Station Market, By Product Type (AC & DC EV Charging Station) 13 3.3.1.4. India Electric Vehicle Charging Station Market Share & Forecast , By Product , By Value, 2014-2025 14 3.3.1.5. India Electric Vehicle Charging Station Market Share & Forecast , By AC EV Charging Station, 2014-2025 15 3.3.1.6. India Electric Vehicle Charging Station Market Share & Forecast , By DC EV Charging Station, 2014-2025 16 3.3.1.7. India Electric Vehicle Charging Station Market Share & Forecast , By Supplier Type, 2014-2025 17 3.3.1.8. Indian Electric Vehicle Charging Station Market Share & Forecast , By Installation Type, 2014-2025 19 3.3.1.9. Porters Five Forces Analysis: EV Infrastructure Market in India 20 Recommendation 22
  3. 3. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 3 As the decade is moving towards the end, there's a lot which is changing. Right from the consumer sentiments to vehicle manufacturers’ outlook to cars in India and worldwide, there is a lot happening in the sector. The Government is trying to set some electric vehicle (EVs) supportive policies to bring electric vehicles in town and implement it by 2030, although it looks like a long way to go in India! The government of India has a clear agenda of moving towards Electric Vehicles (EV) with a complete phasing out of Internal Combustion Engine (ICE) vehicles. The Ministry of Heavy Industries and Public Enterprises has launched the FAME scheme (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India) in 2015 under the National Electric Mobility Mission Plan 2020 (NEMMP-2020) to promote faster transformation from ICE to EVs. The FAME scheme focuses on a three phased approach to achieve the target of introducing six to seven million electrified vehicles on Indian roads by 2020. Subsequently, multiple state governments have been providing incentives to attract electric vehicle (EV) manufacturing in their states, and to fast-track adoption of EVs. Karnataka became the first state of the country to notify an EV policy. Telangana and Andhra Pradesh are expected to release their respective policies in due course. Nagpur became the first city recently with availability of mass e-mobility options ranging from e-rickshaws, e-taxis to e-buses. Gujarat is already home to major car manufacturers and multiple car makers have plans to manufacture electric cars from their production facilities in the state. Delhi government drafts policy to make 25% of vehicles electric by 2023. It has planned to create a significant corpus of funds to incentivize every vehicle segment. The Delhi government will offer a subsidy up to Rs. 22,000 on purchase of e-two wheelers to ensure their cost is less than or equal to petrol two wheelers. Government Electric two-wheeler taxis will be allowed to provide last mile connectivity and Scrapping Incentive of up to Rs 15,000 on old BS II and BS III two wheelers. This policy will allow open permit system for e-autos in Delhi while Individual e-auto owners will get down payment subsidy up to Rs 12,500 and 5% interest subvention and similarly the cashback for passengers using e-autos up to Rs 10% will be offered through this policy. In addition, NITI Aayogs ‘Three Year Action Agenda is to be implemented by 2019-20’ also emphasizes the need to migrate from ICE to eco-friendly automobiles. The initial thrust towards hybrids is necessary as higher costs have been deterring customers from buying EVs and cost parity is yet to be achieved. Higher price (chiefly attributable to imported batteries), lack of public charging infrastructure and fewer consumer choices have kept the market penetration for electric vehicles considerably low. Currently, electric vehicles penetration is barely 0.1 per cent in the personal vehicles segment and about 0.2 per cent in the two-wheelers segment. Introduction “Electric Vehicle (EV) is the sexiest transportation system of the 21st century. In India, Electric Vehicles (EVs) are the new talk of town not only because it helps to reduce emissions, but also they give the owner a status in society, that of one conscious of the environment, a green crusader of sorts”
  4. 4. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 4 1. 1. Electric Vehicle Marker Size & Forecast in India, 2014-2025 (USD Million) India’s Transport Minister Mr.Nitin Gadkari had committed that India India will stick to its plan of having 100% electric mobility by 2030. 1,100 1,365 1,689 2,085 2,569 3,159 3,878 4,753 5,817 7,110 8,680 9,210 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Source: BlueWeave Consulting Analysis 1.Electric Vehicle Market Outlook in India According to BlueWeave Consulting, India electric vehicle market is projected to grow at a growth rate of 20.01% over the forecast period 2018-2025. Robust market growth is anticipated on account of rising number of government initiatives such as incentive schemes to encourage adoption of environment-friendly electric vehicles, growing consumer inclination towards electric vehicles, concerns over harmful effects of air pollution, and huge investments by various OEMs for developing more affordable and premium electric vehicles in the coming years. In order to promote the sale of electric vehicles in the Indian market, the government launched FAME scheme (Faster Adoption and Manufacturing of Hybrid and Electric vehicles) in India, as a part of the National Electric Mobility Mission Plan 2020, under which, the government would provide certain incentives to lower the purchasing cost of electric vehicles. During the financial Year 2015-16, an amount of Rs. 75 Crores was allocated for this scheme, which was almost fully utilized. In the last financial year (2016-17), Rs. 91 Crores (approx.) has been utilized out of the budget allocation of Rs. 122.90 Crores
  5. 5. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 5 Under phase 1 of this scheme, support was extended to buyers during the fiscal years 2015- 16 (Rs. 260 Crores) and 2016-17 (Rs. Rs 535 Crores). Further incentives would be provided depending upon the success of phase 1. Incentives of about Rs. 33 to 66 Lakhs are planned for each electric bus which typically costs around Rs. 1-2 Crores (imported buses) and around Rs. 50-80 Lakhs (domestically manufactured). Under the JNNURM (Jawaharlal Nehru National Urban Renewal Mission), NEMMP (National Electric Mobility Mission Plan) and Smart city plans launched by the government, various state and local transport bodies are expected to purchase electric buses over the next 5 years Tata Motors has recently entered the EV market in passenger vehicles and Electric buses: Tata Motors Limited, a USD 42 billion organization, is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles. As India’s largest automobile company and part of the USD 100 billion Tata group, Tata Motors has operations in the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 76 subsidiary and associate companies, including Jaguar Land Rover in the UK and Tata Daewoo in South Korea. In India, Tata Motors has an industrial joint venture with Fiat. Engaged in engineering and automotive solutions, with a focus on future-readiness and a pipeline of products, Tata Motors is India’s market leader in commercial vehicles and among the top in passenger vehicles with 9 million vehicles on Indian roads. The company’s innovation efforts are focused on developing auto technologies that are sustainable as well as suited. With design and R&D centers located in India, the UK, Italy and Korea. Tata Motors in collaboration with its subsidiary, the UK based Tata Motors European Technical Centre (TMETC), are looking to have a major play in the EVs market in India. It plans to address both the Passenger Vehicles and Electric Buses market in India. Electric buses  It has already launched electric buses in the state of Himachal Pradesh  Plans to deliver 25 hybrid buses to MMRDA in Mumbai  100 Buses tender floated for Pune city, 6 buses for BEST, in Mumbai and 6 Buses for Himachal Road Transportation  Company in talks with Chandigarh Government to start a pilot project for Smart City Expect demand from State Transport Unions alone to be around 400,000 Electric buses in the long run.
  6. 6. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 6 2.1. Faster Adoption and Manufacturing of Electric Vehicles (FAME): The FAME scheme was introduced in 2015 under NEMMP with an objective to support hybrid/electric vehicles market development and manufacturing eco-system. The focus areas included technology development, demand creation, pilot projects and charging infrastructure. The first phase of the scheme was implemented during 2015-17 and covered both hybrid and electric technologies. In the second phase of the scheme, however, mild hybrids were excluded from the scheme. Over 1.7 lakh vehicles have received subsidy worth INR203 crore under FAME so far. At present, the subsidy for two-wheelers range from INR7,500 to 22,000; for three-wheelers from INR25,000 to 61,000; and for four wheelers from INR13,000 to 610,000. 2.2. NITI Aayog’s Three Phased approach for adoption of EV/ HEV: 2.Indian Government Policy Landscape to Promote EVs & Minimize IC Engine Vehicles In June 2017, the implementation of NEMMP and FAME was allocated to NITI Aayog. NITI Aayog has since spearheaded the government’s goal to move towards all electric cars sale by 2030. The government’s premier think tank has developed a three- phased approach focusing on system integration, shared infrastructure development and scaled manufacturing. It has advocated for a fee - rebate policy in which inefficient vehicles would incur a surcharge and efficient ones would get rebates. It has also released a proposal for ‘quick pilot’ for development of vehicle infrastructure in Delhi. Overall, NITI Aayog has had multiple consultations and is expected to come up with a comprehensive policy that would help create and foster the EV ecosystem by aligning the demand and supply side interests including in the areas of lithium-ion battery and charging infrastructure.
  7. 7. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 7 3.1. High Price of EVs: The high upfront price of electric vehicle (EVs) is one factor inhibiting consumers to buy electric vehicle. A typical electric vehicle costs nearly 2 to 2.5 times higher than its combustion engine equivalent. The primary component that hikes up the cost of electric vehicles is imported batteries. Electric vehicles utilise lithiumion batteries, none of which are manufactured within the country, currently. Although the batteryprices have fallen from nearly USD1000 per kilowatt hour in 2010 to roughly USD250 in 2017,1 the reduction in price is not sufficient to make these competitive when compared to internal combustion engines. Forecasts suggest that electric vehicles will achieve price parity with ICE-powered vehicles only by 2025. The government is providing subsidies under FAME to electric vehicles in order to incentivise demand; however, direct financial support by the government has its constraints given the sheer volume of the transactions. Also, per charge range offered by EVs poses a concern and any attempts to increase the range requires battery capacity to be increased again leading to widened price gap. 3.1.1. The Way Forward: 3.India EV Industry Restraints & The Way Forward Central Government plans to replace its entire fleet of 5.5 lakh vehicles with electric vehicles in the coming four to five years to provide a thrust to investments in the EV eco-system. As an initial plan, a tender of 10,000 electric vehicles in sedan car category has already been awarded and the delivery would be completed by 2019. A 20,000 electric vehicle tender is expected to come out in early 2019. The government is also procuring chargers for installation at public places. Further, a scheme to incentivize cities with population of over one million for promoting the use of electric vehicles with subsidies on procurement of electric cars, city buses, as well as three- wheelers has already been notified. Tax Benefits for the EV Manufacturers: As per the NITI Aayog report ‘India Leaps Ahead’, May 2017, it has suggested, reducing the interest rates, indirect taxes and registration taxes at state level. In order to increase the number of EVs or hybrid vehicles on road, tax benefits could play a significant role. There needs to be zero registration fees for both EVs and hybrids. Also, EV and hybrid vehicles should be exempted from GST, till the time the target of complete electric mobility is achieved.
  8. 8. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 8 3.2. High Cost of Battery: At Present, electric vehicle battery cost around USD 250 per kWh. Even if battery manufacturing companies can meet the technical challenges outlined above, battery cost may remain above that target. As a large component of the overall EV costs, high battery prices impact manufacturing and sales. Clearly the cost of batteries will play a critical role in determining the commercial viability of electric vehicle. Improved technology can reduce battery costs, increase efficiency and improve driving range, making EVs more accessible and attractive to potential customers. 3.2.1. The Way Forward Falling EV Battery Costs Make EVs More Price Competitive Continuing government commitments to support EVs are important for maintaining Indian leadership and competitiveness in automotive manufacturing. Currently, EVs are relatively expensive to produce, in large part due to the batteries and associated electronics. Today’s battery packs make the cost to manufacture EVs 1.5 to 2.5 times that for manufacturing similarly sized gasoline vehicles. However, such cost differences will decline significantly as the volume of battery production increases and manufacturers use lessons learned from prior vehicle and battery designs. Indeed, the costs of battery packs already have fallen a great deal over the past seven years as the scale of production has increased and manufacturers have developed more cost- effective methods. Lithium-ion Battery Price Trends (USD/kWh), 2010-2030 The price of lithium-ion batteries has fallen sharply owing to increasing production scale. In addition, manufacturers have developed more cost-effective one of the method is reducing cobalt and increasing nickel to enhance the performance and reduce cost. During the first EVs market launch in 2010, their battery packs cost an estimated USD 1,001 per kilowatt-hour (kWh). However, by 2017 Tesla Model 3 battery pack costs USD 191 per kWh, and General Motor Chevrolet Bolt battery pack cost around USD 204 per kWh. The drop is more than 70.8% in the price per kWh within 6 years. Electric Vehicles are projected to cost same or less than a comparable gasoline powered vehicle if the price of battery packs falls between USD 126 and USD 152 per kWh. According to BlueWeave market forecast uniformity in the price of electric vehicles and combustion engine based vehicle will be achieved by 2024, while the price of a lithium-ion battery pack to drop to USD 75/kWh by 2030. 625 503 415 343 289 232 182 154 128 91 75 0 100 200 300 400 500 600 700 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 Source: BlueWeave Consulting, UCS
  9. 9. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 9 3.3. Lack of Infrastructure: Shortage of charging infrastructure and lack of affordable models will hold back the development of the market for electric vehicles in India. With charging stations limited to barely 100 across the nation, uninterrupted charging becomes a concern. Creating public charging infrastructure itself is a complex process. It requires deep analysis of the vehicle segments that are to be catered and their utility patterns. Usually, Level 1 charging is a slow charging facility that typically requires six to eight hours. Level 2 is the fast charging option requiring three to four hours, best suited for commercial places. Rapid chargers are the Level 3 required to be installed at highways and long routes. They take about 30 minutes. Further, it is important to determine the model for operation of the charging stations. Globally, there are two kinds of models in operation – Independent Electric Mobility model, wherein market players set up charging stations and charge the necessary fees for the same; and Integrated Infrastructure Market model, where installation and operation of charging stations is regulated and mostly undertaken by the government, although a third-party service provider may be contracted for the same. Charging infrastructure additionally requires electricity grids to be upgraded enabling them for additional load taking, simultaneously ensuring that electricity production is through environment-friendly, renewable means.
  10. 10. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 10 3.3.1. The Way Forward: 3.3.1.1. Electric Vehicle Charging Infrastructure Guidelines by Indian Government: In December 2018, the Indian Government has finally announced a policy for the rollout of electric vehicle charging infrastructure. Ministry Of Power on December 14, 2018, the government has outlined several key facts, figures and a plan to support the expansion of electric vehicles in the country. The push for electric mobility charging stations will first be rolled out in cities with a population of greater than 4 million residents which includes Mumbai, Delhi, Bangalore, Hyderabad, Ahmedabad, Chennai, Kolkata, Surat and Pune. After much waiting and uncertainty, India will finally have public electric charging stations as a reality rather than just a pipe dream. The most important thing in the circular is that the setting up of these charging stations will be a de-licensed activity and thus the rollout of these charging stations are expected to be quite rapid. The circular states that:  Electric car owners will be benefitted with a special green number plates  The charging station will also be free to obtain electricity from any power company through the open access system. Once applied for, the charging station will also be given priority for an electric connection by the distributing agency.  Current fuel filling stations will be given priority and will be encouraged to set up these electric car charging stations  Company owned and company operated pumps will get even further priority over privately owned pumps.  Company owned and company operated pumps will get even further priority over privately owned pumps.
  11. 11. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 11  Fuel pumps will have to set up a 'firewall' in order to separate the electric charging infrastructure as compared to the conventional fuel one.  Private charging stations in your house/apartment complex/office block is free to set up charging station for vehicles to be used internally, public charging stations will have to have a minimum requirement of charging infra that it will be required to meet.  Every charging station will have to have a minimum of three fast chargers, one CCS - Combined Charging System style plug, one CHAdeMO - CHArge de MOve", equivalent to "move using charge" and one Type-2 AC fast charger.  The first two plus will have to have a minimum output of 50kW and 200-1000 volts, the Ty-2 plug will have to be a minimum of 22kW and have 380-480 volts  The charging station will also compulsorily have two slow/moderate charge points, one with a Bharat DC-001 connection with 15 kW and 72-22 volts and the other, a Bharat AC-001 with 10 kW and 230 volts.  There will be atleast one electric vehicle charging station in a grid of 3000 metres or 3 kms.  On the highway, there will be an electric car station every 25 kms.  The government has also recognised key corridors that will have electric charging stations for both smaller private vehicles and larger commercial vehicles. These include the expressways between Mumbai-Pune, Ahmedabad-Vadodra, Delhi-Agra (Yamuna Exp.), Surat- Mumbai, Agra-Lucknow, Delhi-Agra (NH2) and the Eastern Peripheral Expressway. Other major roads include the Hyderabad Outer Ring Road, Delhi- Jaipur highway, Bengaluru-Mysore highway and 5 connected highways to each megacity.
  12. 12. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 12 3.3.1.2. India Electric Vehicle Infrastructure Market Outlook IndianElectric Vehicle Charging StationMarketSize & Forecast, 2014-2025 (USDMillion) According to BlueWeave Consulting, India Electric Vehicle Charging Station market is expected to grow with growth rate of 33.25% over the forecast period 2018-2025. Growing sales of electric vehicles is a major factor driving the demand for electric vehicle charging equipment in India. Various governments across the country are offering subsidies in the form of road tax exemptions to electric vehicle owners to encourage the adoption of electric vehicles in India, which has, in turn, aided in the expansion of electric vehicle charging equipment market. The NEMMP have also provided the basic groundwork for the adoption of hybrid and electric vehicles in India. Moreover, the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) India Scheme that supports the development of hybrid & electric vehicles, demand creation, pilot projects, and charging infrastructure, is expected to be a driving factor for increasing the demand of electric vehicle charging equipment over the next few years. Electric vehicles charging stations in India are installed mainly in homes, workplaces, and at public places, including shopping malls, petrol pumps, public parking, and mass transit stations. Presently, India has only 100 EV charging stations all over the states. Increasing preference towards fuel-based vehicles over electric vehicles for long-route trips is the major constraint for the market growth in India. Additionally, the high initial cost is another factor hindering the growth of EV charging equipment market in India. To overcome this, the government needs a minimum investment of USD 27.9 billion for setting up EV charging stations in India. 273.61 294.52 314.19 337.91 446.67 591.38 781.88 1,034.38 1,366.56 1,806.56 2,387.41 3,332.10 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Source: BlueWeave Consulting Analysis
  13. 13. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 13 EV Charging Station Projects initiated bytopplayers in India so far: Mahindra Reva Electric Vehicles Pvt Ltd. (Mahindra Reva) partnered with Bangalore International Airport Limited (BIAL) to set up EV charging stations at the Bangalore airport. Mahindra Reva has provided more than 100 charging stations in Bangalore, exclusively for Mahindra e20 customers that allow the customers to access at least one charging station at every 5 kms. Companies, such as JSW, National Thermal Power Corporation Limited (NTPC) and the Power Grid Corporation of India Limited (PGCIL) are also planning to foray into the electric vehicle and charging stations market in India. Moreover, Tata Power and Ola have planned an investment of around USD 100.81 million for the development of charging infrastructure in Nagpur and Delhi, respectively. These factors along with the government's ambitious plan of achieving at least 6-7 million electric vehicles on the road by 2020, under the National Electric Mobility Mission Plan (NEMMP) is expected to emanate demand for electric vehicle charging equipment in India, which is projected to register a significant growth during 2018- 2023. 3.3.1.3. Growth Potential Analysis: India EV Charging Station Market, By Product Type (AC & DC EV Charging Station) 0 2 4 6 8 10 12 0 1 2 3 4 5 6 7 8 9 AC EV Charging Station DC EV Charging Station Market Potential HighLow Source: BlueWeave Consulting MarketGrowthHighLow
  14. 14. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 14 3.3.1.4. India Electric Vehicle Charging Station Market Share (%) & Forecast , By Product , By Value, 2014-2025 DC EV Charging Station holds higher market potential with a revenue share of 74.9% in 2025. With the growing awareness regarding DC charging’s rapid charging feature and other properties, the segment is expected to a prominent market share over the forecast period. DC chargers are capable of charging an EV in 20-30 minutes. These chargers are able to transform high-voltage AC to DC, for storage in electric vehicles. They have been further divided into three connectors namely CHAdeMO, Combined Charging System (CCS), and others (Tesla Supercharger and China GB/T). AC EV Charging Station market exhibits a market share of 25.1% in 2025. Due to its lower costs (production, installation and operation) these are the more commonly found chargers. It is much economical to charge at AC chargers, making them more popular for general day to day charging. These chargers will maintain necessary communication with control system of the vehicle and provide charging for the safe conduct of the operator and vehicle. It provides safe and controlled interconnection of the onboard charger with the power network and transfer up to 22kW of power per hour which is then transformed into direct current and sent to the battery. The performance of onboard charger is limiting however how much power it could actually use, regardless the performance of the charger. 85.1% 79.7% 74.3% 68.9% 63.5% 58.0% 52.6% 47.1% 41.0% 36.1% 30.6% 25.1% 14.9% 20.3% 25.7% 31.1% 36.5% 42.0% 47.4% 52.9% 59.0% 63.9% 69.4% 74.9% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 AC EV Charging Station DC EV Charging Station Source: BlueWeave Consulting
  15. 15. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 15 3.3.1.5. India Electric Vehicle Charging Station Market Share (%) & Forecast , By AC EV Charging Station, 2014-2025 AC EV Charging Station market exhibits higher growth potential with market share of 68.9% in 2017 growing with a CAGR of 13.8% by 2025. The product is further segmented into Level 1 and Level 2. Level 2 AC EV charging station holds higher market potential with a revenue share of 64% in 2025 owing to its compatible nature with all electric vehicles. Level 2 equipment offers charging through a 240V, AC plug and requires installation of home charging or public charging equipment. These units require a dedicated 40 amp circuit. Level 2 charging equipment is compatible with all electric vehicles and plug-in electric hybrid vehicles. Level 2 chargers have a cord that plugs directly into the vehicle in the same connector location used for Level 1 equipment. Level 1 AC EV charging station is estimated to grow with a market share of 36% in 2025 owing to its portable nature. Level 1 equipment provides charging through a 120 volt (V), alternating-current (AC) plug and requires a dedicated circuit. Level 1 charging equipment is standard on vehicles and therefore is portable and does not require the installation of charging equipment. On one end of the provided cord is a standard, three-prong household plug. On the other end is a connector, which plugs into the vehicle. 29.1% 29.8% 30.4% 31.0% 31.6% 32.3% 32.9% 33.5% 34.1% 34.8% 35.4% 36.0% 70.9% 70.3% 69.6% 69.0% 68.4% 67.8% 67.1% 66.5% 65.9% 65.3% 64.6% 64.0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Level 1 Level 2
  16. 16. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 16 3.3.1.6. India Electric Vehicle Charging Station Market Share & Forecast , By DC EV Charging Station, 2014-2025 DC EV Charging Station market exhibits higher growth potential with market share of 31.1% in 2017 growing with a CAGR of 44.0% over forecast period 2018-2025. The product is further segmented into CHAdeMO, Combined Charging System (CCS), and others (Tesla Supercharger and China GB/T). Combined Charging Station (CCS) exhibits higher market potential with a revenue share of 10.96% in 2025 owing to its standardized, safe, reliable and user- friendly charging ability. CCS defines a single connector pattern on the vehicle side that offers enough space for a Type 1 or Type 2 connector along with space for a two-pin DC connector allowing up to 200 A. CHAdeMO is estimated to grow with market share of 63% in 2025 owing to its compatible charge points covering global coverage for all fast charging standards. They are identical across the world, which means users can take their EV to any country in the world and are able to fast charge with the local networks provided the right access cards. Others DC Electric Vehicle charging Station segment includes Tesla Superchargers and Chinese GB/T. This segment is estimated to grow with market share 26.04% in 2025, owing to its rapid charging facility in a wide range of situations. Tesla vehicles use an onboard charger to convert alternating current (AC) from a wall charger to direct current (DC) that’s stored in the battery The Chinese GB/T supports level 2, level 3, three-phase AC, and 250-volt & 400-volt DC. The GB/T pin design is identical to an IEC connector; however, its functions are entirely different. 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 CHAdeMO Combined Charging Station Others*Others* include Tesla Source: BlueWeave Consulting
  17. 17. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 17 3.3.1.7. India Electric Vehicle Charging Station Market Share & Forecast , By Supplier Type, 2014-2025 Private charging station supplier segment holds a market share of 87% in 2025. Growing ties of charging station manufacturers with government regulatory bodies across the globe that offer superior charging ports and connectors is a major factor fueling the private charging station segment of the market. Furthermore, the private charging station segment is projected to maintain its prominent position in the market during the forecast period owing to the limited presence of OE charging stations such as Tesla and BMW. The early adopters of plug-in vehicles cut the path for all later adopters. Many early plug-in vehicle drivers built their own plug-in vehicles. Others worked with manufacturers to show their support for plug-in vehicles and, later, to get in 85.6% 85.8% 85.9% 86.0% 86.1% 86.3% 86.4% 86.5% 86.6% 86.8% 86.9% 87.0% 14.4% 14.3% 14.1% 14.0% 13.9% 13.8% 13.6% 13.5% 13.4% 13.3% 13.1% 13.0% 75% 80% 85% 90% 95% 100% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Private Charging Station OE Charging Station Source: BlueWeave Consulting
  18. 18. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 18 line for groundbreaking plug-ins like the GM EV1 and the Nissan LEAF. OE charging station supplier segment is expected to hold a market share of 13% in 2025. With original equipment manufacturers (OEMs) focused on connected electric vehicle solutions for customers wishing for electric vehicles range. With original equipment manufacturers (OEMs) focused on connected electric vehicle solutions for customers wishing for electric vehicles range, the market for the electric vehicle charging stations is expected to witness rapid growth during the forecast period.
  19. 19. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 19 3.3.1.8. Indian Electric Vehicle Charging Station Market Share & Forecast , By Installation Type, 2014-2025 Residential installation type is estimated to hold a market share of 46.0%, in 2025 owing to the rise in demand of the passenger electric vehicle among the consumers. Installing residential EVSE may require changes to the home’s electrical wiring and prompt selecting different utility electricity rates. People tend to follow a charging hierarchy that starts at home. Most individual passenger cars remain parked for 8-12 hours at night, and home charging can be easy and often cheaper than charging elsewhere. The reasons: in most countries, residential electricity is cheaper than commercial or industrial electricity, and most charging can happen overnight when off-peak electricity prices are lower. Commercial installation type is estimated to hold a Market share of 54%, in 2025. With the growing adoption of plug-in electric vehicles (PEVs) there is increasing need for installing commercial charging stations. Commercial charging stations can be installed at taxi stands, retail stores, government offices, and parking lots of work places, hotels, airports, shopping malls, fast food restaurants, and coffee shops. 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Residential Commercial Source: BlueWeave Consulting
  20. 20. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 20 3.3.1.9. Porters Five Forces Analysis: EV Infrastructure Market in India  Bargaining Power of Suppliers (Medium-Low) Number of suppliers present in the market have low bargaining power as the market is in nascent stage, further absence of uniqueness amongst different suppliers offering AC and DC charging station maintains the bargaining power of suppliers medium to low Consumers are highly informed and knowledgeable about the attributes of electric vehicles charging station further the trend of adopting eco-friendly products will positively impact the suppliers power over alternative sources such as gas & fuel. Development of solar charging station has reduce the cost and increased the convinces attracting large consumer base which will increase the supplier bargaining power over the forecast period  Bargaining Power of Buyers- (MediumTo High) Consumers are spending high amount on the purchase of electric vehicles and charging station over conventional vehicles which is influencing the bargaining power of buyers. Moreover, increasing number of consumers adopting electric vehicles and low switching cost of charging station is increasing the bargaining power of buyers Government has devised supportive policies and subsidies couple with tax benefits to influence the consumer to buy electric vehicles which is positively impacting the bargaining power of buyers is medium to high Intensity of Rivalry (Medium to High) Bargaining Power of Suppliers (Medium to Low) Bargaining Power of Buyers (Medium to High) Threat of Substitutes (Medium to High) Threat of New Entrants (Medium to High) Source: BlueWeave Consulting Analysis
  21. 21. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 21  Threat of Substitutes-(Mediumto High) The substitutes available for AC and DC charging stations are solar and wind energy based charging station which increases the threat of substitutes from medium to high. In addition, growing research and development activities to develop renewable energy source will increase the threat of substitutes Price of solar and wind energy based substitutes are economical compared to AC and DC charging station, hence high price of products compared to other alternative product increases the threat of substitutes  IntensityofRivalry-(Medium to High) Customers loyalty towards brand is low which influences customers to choose and install charging station from economical supplier thus increasing the intensity of rivalry Fuel and gas based companies such as BP plc has invested USD 5 million in Free Wire Technologies, a U.S. based charging station manufacturer to diversify its business into EVs charging station, thus shift of oil & gas companies towards the market is intensifying the rivalry’s of competitors  Threat of NewEntrants-(Medium to High) High capital investment coupled with intense competition to offer standard quality product at lower price will maintain the threat of new entrance medium to low Supportive government policies and high growth potential of the market will attract large number of manufacturer towards the market. Presence of established market players in the industry will negatively impact the new entrance thus maintaining the barging power medium to high
  22. 22. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 22 Recommendation After the whole study and analyzing all the factors for Electric Vehicle Market and Electric Vehicle Charging Station Market, BlueWeave Consulting has comeup with the recommendation that, the market for plug-in electric vehicles (PEVs) is charged up and ready to roll. Growth in market penetration of PEVs is occurring across most major markets in India. Utilities can gain the upper hand in the PEV arena through developing a PEV charging infrastructure with the digital customer at the core. According to BlueWeave Consulting’s Recent study and reports titled-“ Electric Commercial Vehicles Market Trends & Forecast- 2018-2024” and “Electric Vehicle (EV) Charging Station Market Forecast & Opportunity, 2014-2025”, around 80% of customers prefer buying charging services from their energy provider. However, many utilities are just beginning to formulate an integrated PEV strategy. A window of opportunity is available now, but utilities need to act quickly to become a major player in the PEV market. If they do not, other players in the PEV ecosystem (including automotive, technology and retail companies) will likely develop a digital customer experience strategy and thereby win. Governmental policies need to be considered as well. In Norway, 24% of cars are already running on electricity, with the political support to stop selling conventional fuel cars entirely by 2025. In the United States, the Department of Energy unlocked USD 4.5 billion in loan guarantees that can be used for PEV charging infrastructure and programs. Indian government under the Ministry of Heavy Industries and Public Enterprises has launched the FAME scheme (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India) in 2015 under the National Electric Mobility Mission Plan 2020 (NEMMP 2020), to promote faster transformation from Internal Combustion Engines (ICE) to EVs. The FAME scheme focuses on a three phased approach to achieve the target of introducing six to seven million electrified vehicles on Indian roads by 2020 which will trigger the market growth of electric vehicles charging station over the forecast period. These policy moves are important in two ways. First, they could catalyze adoption in the same way loan guarantees accelerated solar. Second, they could de-risk utility investments in potentially riskier, more innovative and digitally enabled infrastructure and programs.
  23. 23. STATE OF THE ELECTRIC VEHICLE (EV) INFRASTRUCTURE MARKET IN INDIA-2025 23 Those are really good news for the Electric Vehicle and Infrastructure Market! But the bad news is…!! Most of market players are just beginning to formulate an integrated PEV strategy. A window of opportunity is open now, but they need to act quickly to be major players in the PEV market. If they do not, other players in the PEV ecosystem (including automotive, technology and retail companies) will likely develop digital solutions and thereby win the customer. That’s why this is the high time to invest and starting new business or expansion of business towards Electric Vehicles and Charging Infrastructure making over the Nation. And we, BlueWeave Consulting is the state-of-the-art solution for those business strategy making to redecorate your business or ventures in accordance with the Electric Vehicle and Charging Station market demands and scopes, which our research reports are going to suggest in the most accurate, elaborate & professional manner. KNOW MORE ABOUT US: BlueWeave Consulting provides a full scope of business intelligence solution for solving your toughest challenges. BWC is an emerging global expert & pioneer in the market research and provision of exclusive market INTEL. We optimize your decision making by equipping your industry with an accurate & better market research according to your industry demands through our professionally designed qualitative & quantitative research methods. Our trendy & efficient sample collection methods, integrated data solutions as well as methodologies certainly make us a better partner that you can rely on. With collective experience in the varied fields of retail, market research and reporting , we provide the business insight and business practices that would give the required impetus for your company’s growth. We are promising a powerful insight that will propel your business forward & will broaden the arena of your market knowledge by utilizing our highly professional and competent platform. We believe in delivering strategic blueprint of success that will help our Clients to pave their paths of success. Head Office (Delhi NCR) H-119A, Sector 12, Gautam Budh Nagar - 201301, Delhi (NCR) Branch Office (Kolkata) GD-69, Sector G, East Kolkata TWP, Kolkata, West Bengal 700107 www.blueweaveconsulting.com info@blueweaveconsulting.com Phone: +91 33 4603 5374 | +91 961 996 6448 US/Canada- +1 866 658 6826 Contact Us:

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