According to Forvis Mazars, India’s infrastructure for charging electric vehicles (EVs) is undergoing a dramatic expansion. From February 2022 to March 2024, the number of charging stations for Battery Electric Vehicles (BEVs) jumped from 1,800 to 16,347, which is a nearly ninefold rise.
This growth is essential to meet the rising demand for EVs driven by environmental concerns, escalating fuel prices, and government incentives. This will help make transportation more environmentally friendly in the future.
Forvis Mazars’ Rohit Chaturvedi stressed the need to expand public charging stations to meet rising demand and lower range concerns. EVs are expected to make up almost a third of the market for passenger vehicles in India by 2030, which will require a lot of infrastructure upgrades. Forvis Mazars aims to support this transformation by leveraging its advisory expertise to build a robust EV ecosystem.
From 2022 to 2023, sales of electric vehicles (EVs) rose 27 per cent around the world. This shows that charge stations need to be improved. India’s electric vehicle (EV) market is growing quickly, especially for two- and three-wheelers. The market for four-wheelers has a lot of room to grow as well.
The government’s FAME program and other policies are pushing this growth, to add a lot more charging points to support the 50 million EVs that are expected to be sold by 2030.
