India's EV Charging Boom: Are We Keeping Pace?
India's public EV charging stations have surged five-fold from FY22 to early FY25, driven by government initiatives, says CareEdge. With a CAGR of 72%, the report highlights rapid infrastructure growth but notes a gap in charger availability for EVs, urging accelerated expansion to support electric mobility.
- Country:
- India
India's electric vehicle (EV) charging infrastructure is witnessing explosive growth, marked by a five-fold increase in public chargers from fiscal year 2022 to early fiscal year 2025, as reported by CareEdge Ratings. The number of charging stations soared from 5,151 in calendar year 2022 to 11,903 in 2023, and further to 25,202 by the end of FY24, hitting 26,367 by early FY25.
This remarkable expansion reflects a compound annual growth rate of approximately 72% over three years. Government incentives and state-level policies have played a pivotal role in this transformation, drawing in public and private investments to bolster charging infrastructure across the nation.
While the infrastructure boom underscores the government's commitment to EV adoption, challenges remain. The current ratio of one public charging station for every 235 EVs on Indian roads points to a need for expediting infrastructure development to match the pace of electric vehicle sales in the country.
(With inputs from agencies.)
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