Flurry Of Partnerships As Indian Electrical Vehicle Market Hots Up

(MENAFN- KNN India) New Delhi, Apr 15 (KNN) The first half of April 2024 witnessed a flurry of strategic partnerships and investments aimed at bolstering India's electric vehicle (EV) manufacturing capabilities and charging infrastructure.

These moves come as the country braces for an anticipated surge in EV adoption over the next decade.

In a bid to develop a robust nationwide charging network, MG Motor India signed a pact with Adani TotalEnergies E-Mobility Limited to set up DC chargers at upcoming MG dealerships.

This collaboration aims to strengthen the charging ecosystem for MG's electric offerings. Similarly, Tata Passenger Electric Mobility Limited partnered with Shell India to install chargers at locations frequented by over 1.4 lakh Tata EVs currently on Indian roads.

These partnerships underscore the pressing need to enhance India's public charging infrastructure which lags behind other major EV markets.

As of February 2023, India had a mere 12,146 public charging stations for approximately 33 lakh registered EVs - a vehicle-to-station ratio of 270:1, compared to China's ratio of 7 EVs per station.

Efforts are also underway to localise EV battery production to leverage government incentives for domestic manufacturing.

Exide Energy Solutions inked an MoU with Hyundai and Kia to manufacture lithium-iron-phosphate (LFP) cells for their upcoming EV models in India.

Indian Oil Corporation partnered with Panasonic to produce cylindrical lithium-ion batteries for EVs and consumer electronics, while also developing battery storage systems.

With nearly 30 lakh new EV registrations in just the last two financial years, a Confederation of Indian Industry report estimates India needs over 13 lakh chargers by 2030 to meet projected demand and drive widespread EV adoption by addressing range anxiety concerns.

(KNN Bureau)


KNN India

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