Electric Mobility sector: India makes EVs more affordable and reachable for masses

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In an effort to further the use of electric vehicles in the country, Convergence Energy Services Limited (CESL) under the Ministry of Power simulated ways to create key partnerships on World Environment Day.

On 5 June 2021, agreements and MoUs were signed with state governments of Goa, and Kerala to procure over 30,000 two- and three-wheelers (2W/3W). Marking the first entry of 2W and 3W segments in the country, the agreements focus on solutions uniquely designed to deliver affordable financial solutions to buyers.

As per the agreements, CESL will invest in establishing the electric vehicle charging infrastructure across the country and monitor the use of the assets. This customer-oriented approach is specifically designed to deliver good ease of use and better accessibility of EVs.

Expansion and Adoption of EV ecosystem

CESL is jointly building strategic relationships with Bharat Electronics Limited (BEL), TVS Motor Company, JBM Renewables Pvt Ltd., and Fortum India that will focus on expansion and adoption of the EV ecosystem in India.

These partnerships will work towards building public charging infrastructure, better technological adoption in charging. They will explore best practices and business models including the availability of potential customer segments for demand augmentation.

Development of highway and expressway Charge Point Operators are another key objectives under the establishment of EV ecosystem in India. The projects signed by CESL are constructed to increase the feasibility of park and charge facility to customers across all EV segments.

Noticing a significant growth in the demand for public EV charging infrastructure, the Indian government has extended the policy support to bolster the mass adoption of EVs in the country.

In India, there is immense scope for growth in the Electric Mobility sector, including all aspects related to it, such as Charging Infrastructure, Battery recycling, reuse and adoption among the masses.