The general public sector oil advertising giants – Indian Oil Company (IOC), Bharat Petroleum Company (BPCL), and Hindustan Petroleum Company (HPCL) – made substantial progress in ramping up EV charging community final fiscal and have pledged to additional broaden their EV charging community throughout the nation.
17,000 charging stations arrange nationwide
Collectively, these firms have now established practically 17,000 charging stations nationwide, with additional acceleration anticipated within the coming years.
Indian Oil Company put in 3,601 new EV charging stations in FY24, and as of June 30, 2024, the variety of EV charging stations commissioned by the vitality main stood at 10,028, which constitutes about 60 per cent of all EV charging stations within the nation, in line with its newest annual report.
Moreover, IOC affords battery swapping companies at 99 of its gas stations, offering versatile and environment friendly options for EV customers. The corporate has additionally partnered with Solar Mobility Pte Ltd, Singapore, to create a pan-India battery-swapping community.
BPCL has additionally set bold progress targets for EV charging infrastructure. On the firm’s current annual basic assembly, Chairman and Managing Director G Krishnakumar highlighted BPCL’s dedication to supporting the transition to electrical mobility by increasing its charging infrastructure. The corporate has already put in over 3,100 charging stations and plans to succeed in 7,000 within the close to future.
In FY24, BPCL commissioned 2,443 new charging stations at its gas stores and goals to put in 3,500 extra fast-charging stations for four-wheelers alongside 150 freeway corridors in FY25.
BPCL has additionally established 14 battery-swapping stations and launched the Freeway Quick Charging Corridors initiative, increasing its fast-charging community to 900 stations throughout 120 key corridors. Over the subsequent 5 years, BPCL plans to put in quick chargers for four-wheelers at round 6,000 stores throughout 400 freeway corridors, specializing in high-traffic routes just like the Golden Quadrilateral and North-South/East-West highways.
HPCL added 1,773 EV charging amenities, together with battery-swapping stations, in FY24, bringing the whole variety of stores with EV charging capabilities to three,603.
Underneath Part II of the FAME India scheme, the Ministry of Heavy Industries (MHI) accredited a capital subsidy of ₹800 crore for 3 Oil Advertising Corporations to ascertain 7,432 EV public charging stations. Moreover, MHI sanctioned an additional ₹73.50 crore below the FAME-II scheme to OMCs for upgrading 980 present low-capacity charging stations throughout the nation.
Supported by insurance policies similar to decrease GST on EVs and schemes like FAME and PLI, EV adoption in India is gaining traction.
“India presently has over 8,000 electrical buses in operation. Within the two-wheeler phase, electrical car (EV) penetration has reached 5 per cent, whereas the three-wheeler phase has achieved 15 per cent penetration. For four-wheelers, EV penetration stands at 2 per cent, with greater than 200,000 electrical automobiles on the highway. With over 12,000 public charging stations obtainable, EVs have gotten extra sensible and interesting to shoppers,” in line with Shailesh Chandra, Vice President of SIAM and Managing Director of Tata Motors Passenger Automobiles Ltd. and Tata Passenger Electrical Mobility Ltd.
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