More developers in India are putting electric vehicle chargers in the parking lots of new developments, betting that they will boost the value of their properties and attract more buyers in a country where the charging infrastructure can’t keep up with soaring EV sales. In the first half of this year, EVs accounted for just 2.4% of India’s vehicle sales, but their registrations jumped 137% to 48,000 units, according to research firm Canalys. The growth was spurred by the availability of affordable EVs and premium models with extended driving ranges, advanced connectivity and infotainment features, and ADAS.
The government is working to increase EV adoption in the private sector with incentives for buying and leasing them, as well as requiring cities to convert their fleets of buses, institutional vehicles, and e-commerce delivery and logistics vehicles to EVs. It’s also encouraging the production of batteries and charging stations in the country by establishing a single window system for approvals for companies to set up both. The plan is expected to create 20,000 jobs by 2025 in shared mobility, battery manufacturing, and charging infrastructure development.
Currently, the EV charging infrastructure is in disrepair in many parts of the country. Outside India’s parliament building on Sansad Marg, one of the public chargers lies smeared with paan spis and occupied by street vendors. At the same time, another near Delhi’s central business district needs repair. The country has about 435 EVs for every public charger, government data shows, far below the 26 EVs per charger in the United States.
But some developers are betting the government’s plan will eventually pay off, with EV chargers becoming a standard feature in new residential complexes. For example, Sobha is offering EV chargers in some of its new projects in Bengaluru, while developers such as Prestige, Mahindra Lifespace, Kolte-Patil, and Brigade are adding them to their developments, too.
“People considering an EV want the assurance that if they buy an apartment here, they’re not going to have to go out of their way to find a place to charge it,” says Javed Shafiq Rao, senior vice president and head of property management at real estate firm Prestige. He adds that EV chargers are much like swimming pools, and people will pay a premium for apartments with them, just as they’re willing to pay more for homes with pools.
However, the success of EV charging in India will depend on improving the quality and number of facilities. Most of the 9,878 public EV charging stations in the country use the European CCS plug, while others are equipped with Japan’s CHAdeMO connector, which is incompatible with most current EVs. And because EVs require more power to charge than their internal combustion counterparts, the stations must be upgraded and located in areas with high traffic volumes. That means they will have to be built in the cities. Besides, integrating renewable energy into the EV charging infrastructure will reduce dependence on fossil fuels and oil imports, lower electricity bills for EV owners, and cut the country’s carbon footprint.