Although market penetration remains low in India, consumers are becoming increasingly aware of the virtues of switching to EVs, and concerns over cost have gradually diminished. While barriers to adoption still exist, these can be mitigated through improved infrastructure and government incentives. We are, therefore, at a critical juncture where we can and should do more to drive the acceleration of the EV market across Asia. Over the next three years, I believe that Governments should play a more active role in providing incentives, adopting standards and most importantly, facilitating the set-up of charging infrastructure. We are already seeing this in markets such as India, which is working towards deploying up to 69,000 charging points in public car parks by 2025, as part of its vision for all vehicles to run on cleaner energy by 2030. The planned roll-out will bring greater convenience and accessibility to consumers and propel the widespread adoption of EVs. Similarly, the India government announced plans to invest US$383 million to set up 78,000 EV charging stations across the country. With proactive participation from governments, the EV market is on track to take off in the upcoming years. However, we also recognize that such progress might not be easily achievable in all markets and for those that are unable to invest in suitable charging infrastructure, we expect demand to remain stagnant for some time. Nonetheless, this presents a unique opportunity for private-public collaborations to address issues that impede the development and adoption of EVs.
The EV Charging Infrastructure & Technology summit held in Bangalore on 21st & 22nd June 2021 conference is the only event of its kind to deliver leading market intelligence and industry presentations on the latest in EV charging infrastructure projects to support the expansion of electric vehicles.