Electric vehicle charging - the next big opportunity - KPMG in India Report

Some key highlights from the report

- India's e-mobility journey is on a fast track, with an estimated 45-50 million EVs on road by 2030

- Investors see players in the EV charging market as promising investment prospects

- Charging technologies will vary by different vehicle segments. Public and private charging solutions will be deployed to serve different customer segments and use cases

- 2Ws and 3Ws are best suited for AC slow charging. Battery swapping likely to be the more prevalent model for use cases requiring quick charging turnaround

- Home/workplace and fleet charging solutions show maximum potential in the short term; shift to take place to public charging as the market matures - Indian market is likely to have a dense network of AC private and public chargers; DC chargers to be restricted to buses and few use cases for 4Ws and LCVs

- Customer expectations from different charging solutions will vary i.e. expectations from Home/ Workplace Charging are expected to be different from Destination Charging or On the Go Charging which will differ from Fleet Charging

- Strategic partnerships for real estate and interoperability amongst CPOs/ Service Providers are crucial to strengthen customer proposition

Winning the battle in the charging ecosystem

- Charger manufacturer - Product customisation, design innovation and software integration would serve as key differentiating factors in addition to product and service quality and cost competitiveness

- CPOs - Location, technology, reliability of power are hygiene factors. Loyalty programs, partnerships, integration with payment gateways etc. will drive stickiness

- Strategic partnerships and alliances are paramount to seize the opportunity in the burgeoning CPO segment

Rohan Rao, Partner, M&A Consulting, KPMG in India says, 'Development of a robust charging network has gone hand-in-hand with accelerated EV adoption across the world, and we believe a similar trend is expected to play out in India. With an estimated 50 million EVs on Indian roads by 2030, the potential opportunity for a pure play charging business is enormous.'

Source : Equity Bulls

Keywords

Report ElectricVehicleCharging KPMG India