NTPC forays into the EV-charging business

In the wake of demand for electric vehicles (EVs) in India, the state-owned National Thermal Power Corporation (NTPC) has become the latest company to foray into the EV-charging business and has set up its first charging station at its premises in Delhi and Noida.

The company plans to set up charging stations across Delhi-NCR and other cities in the country. With an installed power generation capacity of 51,410 MW contributing almost 15 percent of India’s total power generation, the company announced an ambitious capital expenditure of Rs 28,000 crore for FY2018.

With this, NTPC becomes the latest entrant into the EV space in the country. Earlier this year, Coimbatore-based Ampere Vehicles, founder and CEO, Hemalatha Annamalai, in an interview with Autocar Professional, spoke about the growing demand for chargers in the EV segment. The company has sold nearly 225,000 units to various OEs till date.

India’s largest app-based cab-hailing service Ola had invested Rs 50 crore last week while introducing a fleet of 100 electric cars and setting up of four charging stations in Nagpur. With different parts of country witnessing a steady increase towards EVs the demand for ancillary units and charging stations is expected rise manifold.

The biggest thrust to the EV sector will of course come from the government. In a report released last month by the government think-tank NITI aayog in partnership with Rocky Mountain Institute, forecasts how a shared, electric and connected mobility system would cut India’s energy demand by 64 percent.

The country with its surplus energy production as well as being the world’s largest solar power producer has immense opportunity not only for OEMs but other industry stakeholders as well. Commenting on the future of the EV segment in the country, Chetan Maini, vice-chairman, Sun Mobility, said: “EVs will require investing in infrastructure, possibly repurposing the existing network of fuel stations, building up the ecosystem of partners and stakeholders, including governmental policy makers, energy generation agencies, OEMs and mobility solutions providers. At the same time, it is important for the manufacturing sector to ramp up quickly. By suggesting creation of manufacturing consortia for standardised EV components such as batteries, powertrain and charging equipment, NITI Aayog’s report opens new opportunities for both existing and new OEMs, as well as component suppliers in the automotive industry.”