Govt. sanctions Rs 800 cr. for setting up nationwide EV charging stations
JNS: Under the FAME Plan Phase -2, the Central Government has approved an allocation of 800 crore rupees for installing 7,432 public fast charging stations across the country.
The Faster Adoption and Manufacture of Electric Vehicles (FAME) India Programme was developed by the government in 2015 to enhance the necessary infrastructure to facilitate the widespread usage of electric vehicles.
According to Heavy Industries Minister Dr. Mahendra Nath Pandey, an extensive network of charging stations for electric vehicles would soon be implemented across the country by Oil Marketing Companies.
Indian Oil, Bharat Petroleum, and Hindustan Petroleum are the names of the three corporations. He claimed that the installation should be finished by March next year. There are approximately sixty thousand five hundred and eighty-six charging stations located throughout the country at this time. It is anticipated that including the new 7,432 public charging stations will constitute a major boost to the ecosystem supporting the charging of electric vehicles.
According to Dr. Pandey, this action will boost the ecosystem for electric vehicles in India and encourage more people to transition to cleaner ways of transportation.
The Committee that the DG Bureau of Energy Efficiency oversees has made several recommendations on adjustments that can be made to make the development of public charging infrastructure more financially viable. It includes providing support for the upstream infrastructure, which can typically cost up to sixty per cent of the total cost of setting up a charging station for public electric vehicles. Lowering the initial investment will simplify the installation process of charging stations. In addition, the subsidy of seventy per cent on electric vehicle supply equipment mentioned earlier would remain the same.