EV Charger Rates Reduced By 28% To Boost Charging Network
Hyderabad: The Union government has taken a major step to speed up the adoption of electric vehicles by cutting benchmark prices for public EV chargers. The decision aims to expand charging infrastructure across the country and reduce overall costs for both the government and private operators.
The Union Ministry of Heavy Industries issued orders to revise the benchmark rates of EV chargers after noting a drop in manufacturing costs. Officials said charger prices have come down due to better technology and wider availability. Therefore, the government decided to align benchmark rates with current market conditions.
Lower EV charger rates to expand charging infrastructure
Under the revised norms, the price of a 60 kW public charger has been reduced by 28 percent. Meanwhile, the cost of a 30 kW charger has fallen by 17 percent. The government has also cut the price of 120 kW fast chargers by 13 percent. For example, a 100 kW charger that earlier cost about Rs 18 lakh will now cost around Rs 13 lakh. These benchmark prices were first fixed in 2022, when charger costs were much higher.
The government expects the move to lower the subsidy burden. At the same time, it hopes private players will set up more charging stations at reduced costs. The Centre currently supports charging infrastructure through schemes such as PM E Drive. In some cases, it provides full subsidies for 50 kW to 100 kW chargers. With lower benchmark prices, the same funds can now support a higher number of charging points.
India currently has around 29,200 public EV charging stations. The government wants to scale this figure up significantly in the coming years. Officials believe the revised rates will help meet this goal faster and more efficiently.
EV sales in India have grown sharply over the past few years. The share of electric vehicles rose from 0.3 percent in the 2022 fiscal year to 4.7 percent by 2024. Growth has been strongest in the two wheeler and three wheeler segments. However, many buyers remain concerned about the lack of charging stations.
The government believes the latest decision will address this concern. Lower charger prices will help private firms invest more while depending less on subsidies. Eventually, this is expected to make EV charging more accessible and support the expansion of environment friendly transport across the country.
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