There is a growing interest in electric vehicles (EVs) since the Indian government announced new scrapping policies on 13th August 2021. In order to stimulate the change to electric vehicles, the government has offered tax rebates, monetary incentives, and more. And it’s just one more thing driving this change.
Future automobiles are being designed to optimize cost and performance, just like the rest of Next Generation technology. Along with cost and performance, Griden Power optimizes your electric mobility to the best extent possible by providing you with new and greener EV-Solutions that are delivered right at your doorstep.
The Demand for Evs
An explosion of electric car sales has taken place worldwide over the past decade, and this trend will continue. Although the COVID-19 pandemic may cause a decline in new electric car registrations by 2020, the electric vehicle market appears to be in good shape. On a year-over-year basis, sales of electric vehicles worldwide increased by 41%. The global electric car sales share increased as well, reaching a record 4.6 percent in 2020.
In the previous three years, the demand for electric vehicles (EVs) has doubled. As EVs become more prevalent, states like Kerala, Telangana, and Gujarat are leading the way.
Let us look at some stats from both Indian and Global standpoints:
EVs units in India from 2017 – 2020
|Year||Unit of Evs|
|2017-18||India had over 69k units of EVs on the road.|
|2018-19||Numbers increased to more than double; 143k+ units of EVs.|
|2019-20||Yet more surge to 167k+ units of EVs.|
Global EV stats based on Forbes report.
|Year||Unit of Evs|
|2017-18||65% increase registered with 2.1 mn EVs.|
|2018-19||The numbers remain static.|
|2019-20||25% decline in EV purchase amidst Pandemic.|
Market Share of Evs
“The Indian EV industry is predicted to be worth $5 billion in 2020, with a projected CAGR of over 44 percent likely to equal to $47 billion by 2026,” says a Mordor Intelligence analysis. Forbes predicts that by 2025, electric vehicles will account for 10 percent of passenger vehicle sales globally, increasing to 28 percent by 2030, and 58 percent by 2040, according to the publication.
The future of electric vehicles is bright, despite the fall in sales that occurred during the early Covid-19 outbreak, according to a variety of reports. The number of vehicles on the road is increasing. In order to fully understand this growing demand, we must take into account a very important component, i.e. the COST.
Cost of buying a new vehicle: A typical electric vehicle (EV) costs up to 30% more than a comparable gas or fuel-powered vehicle. EVs, on the other hand, cost between 1.2 and 1.4 rupees a kilometer (depending on your vehicle). Aside from that, the cost of acquisition can be readily overcome within three years, allowing for greater savings than non-EVs.
Subsidies and exemptions: Incentives are being offered by state governments to encourage the purchase of electric vehicles and reduce pollution. They range up to Rs. 1.5 lakhs. You can also get tax benefits under Section 80EEB for EV loan repayments up to Rs. 1.5 Lakhs.
Maintenance costs: Maintaining ICEs can be expensive, especially as cars age. Over time, changing the motor oil, coolant, transmission fluid, and belts may add to the costs. EVs, on the other hand, do not require ICEs, therefore that cost is avoided. Batteries used in EVs are very complicated, however massive, and require replacement after around five years, depending on the vehicle. As a result, it’s economically possible.
Limitations of EV Infrastructure in India
While there are several obstacles to the sale of electric vehicles, including pricing, mentality, subsidies for small EVs, and more, the lack of charging stations for EVs is the most serious challenge. Electric vehicles are suitable for intracity transportation because of this. In order to enhance battery efficiency, prominent automakers are investing much in technology. Electric Vehicle Charging Station Service Providers, such as Griden Power, energize this infrastructure.
Having a car that runs on fuel might burn a hole in your budget, as fuel prices have already reached an all-time high. If we factor in the expenses of battery manufacturing and maintenance, electric automobiles are still a greener option than gasoline-powered vehicles. While the amount of carbon released from burning a gallon of gasoline or diesel cannot be lowered, the same cannot be said for electricity. Electric vehicles have significantly lower lifecycle emissions.
GRIDEN – Powering the EV Infrastructure in India
A one-stop-shop for all of your e-mobility needs, Griden Power is the answer. Services include Charging Station Management, Installation Setup, User Training, EV Battery Stations, and answers to any questions that may arise throughout the installation process. Griden also offers Solar Charging Station Installation if you want to go even further in the green race!
EV charging station: Provides installation of AC/DC EV charging stations in parking lots (residential and commercial), highways, etc. It’s no secret that Griden has a stellar reputation when it comes to Solar Charging Installation.
EV charging station management: Griden offers everything from the installation of electric vehicle charging stations to usage monitoring, charge history, real-time charging status, and much more.
Battery station: To mitigate the demand for battery replacement.
Home charging station setup: Undoubtedly, there will be instances when you do not need to use your car at all. Your electric car should be properly stored during these times.
These solutions are compact, have high-end AC wall boxes, DC fast charging with strong connectivity, and separate on-demand EV chargers for the EV fleet in India, among other features. For all of these reasons, you will not have to worry about storage. In addition, if you use your car more often, it will make driving easier.
Charging station setup training services: As a company, Griden offers more than just station setup services. They take it a step further by offering training to ensure simplicity of use.
The GRIDEN POWER Technology
AC/DC chargers: In addition to AC and DC chargers, Griden also offers better software for easy management of the chargers. It takes 8-9 hours to charge an AC charger compared to a DC charger. A DC charger, on the other hand, can charge 80% of a battery in 30 minutes. It takes a little longer to finish the remaining 20%.
IoT powered units: Additionally, Griden’s EV charging devices are IoT-enabled for remote monitoring and assistance, making EV charging station management even easier.
SaaS-driven application: Using a mobile app and cloud-based support, Griden provides consumers with everything they need to charge their electric vehicles. Through their app, EV owners may recharge and halt the recharge, monitor, identify local charging stations, and much more. The app is available for iOS and Android devices. In addition, it extends to owners of EV charging stations as well.