Tata Power invests in charging infrastructure
The Indian energy provider Tata Power plans to expand its network of smart EV charging points in India from the current approx. 170 now to over 700 by end of the financial year under the subsidiary brand name of Tata Power EZ Charge.
Tata explains that “as the Indian automotive sector emerges from a prolonged slump in sales, the growth in demand for EVs is expected to grow substantially.” In absolute numbers, this refers to the over 150,000 electric vehicles sold in India in 2019/2020, compared to the 135,000 in FY2018-19, showing a 20 per cent boost in sales.
However, it should be noted that the impressive figures correspond to less than 1 per cent of total vehicles sold in India during the last fiscal year. Tata hopes to make the purchase of an EV more attractive by providing better and more efficient infrastructure across the country. However, given the size of the Indian nation, this will take some time outside of major cities.
As Praveer Sinha, CEO and MD of Tata Power stated, “despite the protracted slump in the Indian automotive sector, we continue to remain bullish about the future of the country’s mobility business and we believe that large-scale shift to clean mobility is inevitable. With the right policy framework in place, large domestic demand for clean mobility solutions and consistent drop in the total cost of ownership of EVs are strong signs of the direction in which India is moving.”
So far, Tata has installed 170 fast and smart-charging points in more than 20 Indian cities including Delhi, Mumbai, Bangalore, Pune, and Hyderabad with plans to further expand the coverage by March 2021. The company also plans to expand into other charging areas, by setting up cooperations with fuel stations and hotels to offer services to travellers, as well as developing technologies for the home charging sector.