IESA conducts EV Fast Charging Summit, calls for increase in investment

Emphasising the need to increase investment in EV charging infrastructure, the India Energy Storage Alliance (IESA) successfully held the India EV Fast Charging Summit in New Delhi, the Economic Times reported.

As the Indian EV industry crosses the milestone of 4 million sales, industry experts are calling for public-private partnerships to further increase EV adoption and achieve the target of 30% EV penetration by 2030.

At the event, the need for robust charging infrastructure remains the main subject of concern in resolving range anxiety among EV  users. According to the report, to maintain the ongoing growth in the EV sector, IESA is estimating that India will need an investment of USD 20-30 billion to improve its EV charging infrastructure

The Indian government's upcoming PM e-Drive scheme, expected to incentivise charging infrastructure development with a budget of INR 2,000 crore, was eagerly anticipated by the summit attendees.

In addition, PM E-Drive, the upcoming scheme of the Indian government will also provide incentives for establishing charging infrastructure. With a dedicated budget of Rs 2,000 crore, attendees of the event are eagerly waiting for the application of the scheme.