Business

‘EV charging infrastructure offers ₹2 lakh-cr. business opportunity’

Induction charging, solar roadways will offer opportunities. says the Elecrama chairman.

Induction charging, solar roadways will offer opportunities. says the Elecrama chairman.   | Photo Credit: Kamal Narang

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Integration of electrical, electronics will enable fast charging, says Vijay Karia

The Indian electrical and electronics industry is expecting business worth more than ₹2 lakh crore from electric vehicle charging infrastructure in the next five years as the automobile industry firms up plans for electrification of passenger cars and public transport, a top industry official said.

“In the next decade, technology will change the face of the industry. There is vast scope of business [possible] from charging infrastructure alone.

“We see huge opportunity, as, just the electric charging infrastructure will require a minimum investment of ₹2 lakh crore. We will be manufacturing and supplying these,” said Vijay Karia, chairman, Elecrama 2018, an exhibition scheduled for next month in Noida to showcase solutions for e-transportation and battery storage systems.

“E-highways, induction charging [and] solar roadways are going to offer additional opportunities. In the decade ahead, you will see a different country,” he added.

‘Fast charging needed’

He said in the coming years, electric cars will need fast charging or replaceable batteries for uninterrupted movement.

“For fast charging, one will need more electronics and there will be integration of electrical and electronics to make it possible,” he said.

To support the Centre’s efforts to electrify vehicles towards lowering emissions and bringing down cost of transportation, Elecrama 2018 will showcase solutions to complex energy problems by adopting a systems-based approach, the chairman of Elecrama 2018 said.

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Printable version | Jan 29, 2020 6:54:25 AM | https://www.thehindu.com/business/ev-charging-infrastructure-offers-2-lakh-cr-business-opportunity/article22911098.ece

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