EV charging biz may require up to Rs 1.05 trn investment by 2032: Report
Electric vehicle (EV) charging station business may require an investment to the tune of Rs 1.05 lakh crore by 2032 as the country is expected to need 2.30 lakh such facilities during this period, a report said on Wednesday.
This massive investment will be required to cater to the growing demand for EVs, which is expected to grow at a compounded annual growth rate (CAGR) of 39 per cent, and the resultant requirement of power, credit ratings agency India Ratings and Research (Ind-Ra) said in its report.
It also said that commercial EV charging stations are expected to be a major contributing factor in the penetration of these vehicles.
