Electric Car Charging Stations Business Opportunity in India
Amongst all the problems that are faced by EV users in India, one of the most commonly reported problems is the insufficient number of electric car charging stations in India.
Have you ever taken a road trip and noticed that there are many gasoline charging stations in India?
Thus, the problem is not the unavailability of the physical attributes and resources clearly.
There are a lot of stations all around; let’s see what’s stopping them from being electric car charging stations.
Requirements for Setting up an Electric Car Charging Station
- The first requirement for setting up any electric car charging station is checking the availability of land and other physical attributes.
Make sure that the land is enough to accommodate the physical charging setup and have a proper way for entry and exit of the vehicles.
Further, ensuring a decent parking space is yet another added requirement to host a fleet of vehicles at once.
All the formalities related to land fit under a lakh, excluding the cost of land, which would vary according to the area and other geographical and topological attributes.
- Secondly, make sure that all the civil works and installations are handled by experts. This ensures the safety and saves you from potential problems in the future.
The civil works fit in the bracket of 2-3 Lakhs.
- Next, make sure to have a good technical team that is well-versed in the intricacies of chargers and associated components.
The base cost for a decent team with an average team size starts from 6 Lakhs and can rise depending on the team size and experience of the team members.
- Now, coming to the mechanical and electrical requirements, make sure that your station is located near some power outlet that would ensure hassle-free connections and maintenance.
Check all the prerequisites with the local authorities to make sure you are in legal compliance with the authorities.
All these formalities lie in the bracket of 7-9 Lakhs.
- Know your crowd and set up the chargers accordingly. Make sure your chargers abide by local and international standards.
- Keep the safety instructions in mind and make sure that you follow them properly. A dedicated safety team can save you from the hassle and potential losses.
- At last, remember to be seen!
Tie up with agencies that can help you with visibility. Trustworthy discovery apps like TelioEV help people to locate you on their maps easily and promote you depending on your services.
At the end of the day, it is a business, and if it doesn’t reap profits and doesn’t reach the right crowd of audience, it won’t sustain for long.
So, make sure to reach out for help and shine better than your competitors. A good marketing team would charge you something around 50k – 1 Lakh for providing good visibility.
These were the basic requirements for setting up an electric car charging station. Let us now see the breakthrough and cumulative budget for setting up a successful electric car charging station.
Cost of Setting up an Electric Car Charging Station
In the previous section, we saw a rough estimate of the costs required at each step of setting up a charging station. Now we will look more into the details of the total cost estimation for setting up a charging station.
Since EVs are the need of the future and government is thus taking every possible step to promote them at every possible level.
There are multiple government schemes like FAME that promote the setting up of electric car charging stations.
These schemes not only make the process of setting up an electric car charging station seamless but also provide financial aid.
To stay updated with such schemes, stay connected with online communities that update their members about any latest updates.
The total cost of setting up an electric car charging station comes to an estimate of around 40-50 Lakhs.
This might seem like a big investment if you are new to this business, but with proper advertising, this will reap good benefits and serves a very big national concern at the same time.
It is definitely a business that has a great future ahead. So, if you are looking at the bigger picture and following an entrepreneurial mindset, it is definitely a wise investment o your finances and resources.
Business Opportunities in the EV Ecosystem – EV Charging Station Business
Now let us discuss some business opportunities in the EV ecosystem other than setting up an electric car charging station.
These business opportunities are related to the EV charging station business but with a more elaborated approach.
The first opportunity is setting up domestic and public charging stations. These stations are installed in houses and public places like malls, hotels, etc. respectively.
The next few opportunities are doing what a charging station does but with a smarter and more innovative approach. These include battery swapping, in which batteries are swapped instead of being charged conventionally, or using solar charging, which is more environmentally friendly since it replaces conventional electricity resources with the electricity generated by solar energy.
Further opportunities may include dealership of EV franchise, trading of parts involved in electric car charging stations, and much more. The scope is truly endless.
In conclusion, now we know that the real reason behind the inadequate car charging stations is the misinformation or lack of information about it.
This blog gives you the basic highlights about setting up a successful electric car charging station and familiarises you with the scope of the same in numerous ways possible.
Follow up on the next TelioEV blog to know more about the mechanical intricacies of the electric car charging station, such as types of connectors, chargers, plugs, etc.