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Here is all you need to know about the newly developed standard for low-cost electric vehicle charging points. It has the potential to charge up the EV revolution
Earlier this week, an official announcement made by the Government regarding standards for electric vehicle charging devices is likely to have a significant impact on the future of electric mobility in India. Unlike the trends witnessed in the US and Europe, the Indian market for electrics is likely to be a ‘bottoms-up’ grassroots movement, which will likely lead to an explosion in battery-operated two-wheelers and three-wheelers first. Mass market cars are expected to be last in the list of EVs that will witness accelerated adoption.
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16 May 2021, 06:40 GMT+10
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The electric vehicles market is expected to reach $2,495.4 billion by 2027, at a CAGR of 33.6 % during the forecast period, 2020-2027.
In terms of volume, this market is expected to grow at a CAGR of 21.7% to reach 233.9 million units by 2027
This market s growth is mainly attributed to supportive government policies and regulations, increasing investments by leading automotive OEMs, rising environmental concerns, and decreasing prices of batteries. The increasing adoption of electric mobility in emerging economies and growing adoption of autonomous driving vehicles also aid in the growth of this market.
Based on vehicle type, the light commercial vehicles segment is expected to grow at the highest CAGR during the forecast period. This segment s rapid growth is mainly attributed to the growing awareness regarding the role of electric vehicles in reducing emissions, increase in demand for electric vehicles
May 13, 2021
The Indian Standards for LAC for EVs will be released in the next two months The government’s initiative on low-cost AC charging infrastructure and the decision to bring it under the Bureau of Indian Standards (BIS) will not only benefit local companies, but also solve the hesitancy among vehicle buyers for whom charging is a key issue.
The Indian Standards for low-cost AC charging point (LAC) for electric vehicles (EVs) will be released in the next two months.
Fast-track process
A committee involving key stakeholders, including EV manufacturers, auto and electronic component suppliers, power utilities, and communication service providers, worked in fast-track mode to develop specifications, prototype products, and test and validate the proposed standards, which will be formally issued by the BIS.
Indian Standards for low-cost AC charging point for EVs within 2 months: Govt
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Last Updated: May 13, 2021, 12:37 AM IST
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Synopsis
A committee involving all key stakeholders, including EV manufacturers, auto and electronic component suppliers, power utilities, and communication service providers, has worked in fast-track mode to develop specifications, prototype products, and undertake testing and validation of the proposed standards, an official statement said.
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As per industry estimates, the charging units currently available for electric two and three wheelers in the market are priced upwards of Rs 10,000.
The government on Wednesday said Indian Standards for low-cost AC charging point for electric vehicles (EVs) will be released within the next two months with target prices starting as low as Rs 3,500 for a charging unit. A committee involving all key stakeholders, including EV manufacturers, auto and electronic component suppliers, power utilities, an