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Electric vehicle charging – the next big opportunity : KPMG Reports
Driven by environmental concerns and commitment to a greener planet and catalysed by rising fuel prices, electric car sales have increased. As the fledgling EV ecosystem matures at a rapid pace, a critical facilitator of EV adoption is ready availability of slow and fast chargers ensuring easy access to efficient and cost- effective charging.
This attached report titled – ‘Electric vehicle charging – the next big opportunity’ shares a detailed overview of the Electric vehicle (EV) charging ecosystem in India.
Some key highlights from the report
India’s e-mobility journey is on a fast track, with an estimated 45-50 million EVs on road by 2030
Investors see players in the EV charging market as promising investment prospects
Charging technologies will vary by different vehicle segments. Public and private charging solutions will be deployed to serve different customer segments and use cases
2Ws and 3Ws are best suited for AC slow charging. Battery swapping likely to be the more prevalent model for use cases requiring quick charging turnaround
Home/workplace and fleet charging solutions show maximum potential in the short term; shift to take place to public charging as the market matures - Indian market is likely to have a dense network of AC private and public chargers; DC chargers to be restricted to buses and few use cases for 4Ws and LCVs
Customer expectations from different charging solutions will vary i.e. expectations from Home/ Workplace Charging are expected to be different from Destination Charging or On the Go Charging which will differ from Fleet Charging
Strategic partnerships for real estate and interoperability amongst CPOs/ Service Providers are crucial to strengthen customer proposition
Winning the battle in the charging ecosystem
Charger manufacturer - Product customisation, design innovation and software integration would serve as key differentiating factors in addition to product and service quality and cost competitiveness
CPOs – Location, technology, reliability of power are hygiene factors. Loyalty programs, partnerships, integration with payment gateways etc. will drive stickiness
Strategic partnerships and alliances are paramount to seize the opportunity in the burgeoning CPO segment
Rohan Rao, Partner, M&A Consulting, KPMG in India says, ‘Development of a robust charging network has gone hand-in-hand with accelerated EV adoption across the world, and we believe a similar trend is expected to play out in India. With an estimated 50 million EVs on Indian roads by 2030, the potential opportunity for a pure play charging business is enormous.’
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