The Central Govt of India will provide an 80 percent or higher subsidy on the upstream infrastructure required to set up electric public fast charging stations across the country under the Rs. 2,000 crore PM Electric Drive Revolution in Innovative Vehicle Enhancement.
According to draft guidelines from the Ministry of Heavy Industries (MHI), the subsidy will support 48,400 fast chargers for electric two- and three-wheelers with Rs. 581 crores, 22,100 for electric four-wheelers with Rs. 1,061 crores allocated, and 1,800 for electric buses and trucks with Rs. 346 crores, totaling 72,300 fast chargers.
Under the scheme, 30 per cent of the incentive will be released after the tender award stage, 40 percent after the deployment of the electric fast charging station, and the remaining amount after the successful commercial operation of the charging station.
Listed below are some of the leading manufacturers and operators of Electric Vehicle Charging Infrastructure in India
Servotech Power Systems
Servotech Power Systems Limited is engaged in the business of providing end-to-end solutions for the manufacturing, procurement, and distribution of advanced solar products, medical devices, energy-efficient lighting solutions, and many more.
Servotech Power Systems Limited has the installed capacity to manufacture ~60,000 AC EV Chargers and 12,000 DC EV chargers per year. It has a Strong supply chain network with a presence in over 600+ cities across 21+ Indian States.
With a market capitalization of Rs. 3,556 Crores, the shares of Servotech Power Systems Limited were trading at Rs. 159.50 per equity share, down 2 percent from its previous day’s close price of Rs. 162.72.
Exicom Tele-Systems
Exicom Tele-Systems Limited is a power management solutions provider that designs, manufactures, and services DC Power systems and Li-ion-based energy storage solutions. It provides overall energy management solutions at telecommunication sites in India and overseas. It has over 4500+ DC chargers successfully installed, across major key points some of its major clients are Hero Vida, Ather Energy, and many others.
With a market capitalization of Rs. 3,024 Crores, the shares of Exicom Tele-Systems Limited hit a 5 percent upper circuit at Rs.250.25 per equity share, from its previous day’s close price of Rs. 238.35
HBL Engineering
HBL Engineering Limited is engaged in the business of design, development, manufacturing, and servicing different types of batteries, e-mobility, and other products. Its business segments include industrial batteries, electronics, defence, and aviation batteries.
HBL Engineering Limited offers a range of charging solutions, including DC Fast Chargers designed for electric vehicles, with capacities up to 120 kW, focus on speed, reliability, and flexibility.
With a market capitalization of Rs. 16,688 Crores, the shares of HBL Engineering Limited were trading at Rs. 602.05 per equity share, down 0.57 percent from its previous day’s close price of Rs. 605.50.
Tata Power Company
Tata Power Company which is a part of the famous Indian conglomerate the Tata Group, is India’s largest vertically integrated power company, primarily involved in the business of generation, transmission, distribution of electricity, manufacturing solar roofs, developing EV charging stations, and many more.
It also offers an end-to-end solution for charging infrastructure development, ensuring the best charging experience, emphasizing lean, customized, and cost-effective design solutions, along with timely execution and comprehensive operation and maintenance (O&M) services for its clients.
With a market capitalization of Rs. 1,20,272 Crores, the shares of Tata Power Company Limited were trading at Rs. 376.40 per equity share, down 0.66 percent from its previous day’s close price of Rs.378.90.
ABB India
ABB India Limited an integrated power equipment manufacturer supplying the complete range of engineering, products, solutions, and services,in areas of Automation and Power technology
ABB India Limited provides a comprehensive range of EV chargers, including fast and ultra-fast options that comply with international standards. It contributes significantly to the development of a robust charging network in India, promoting the growth of electric vehicles and supporting environmental sustainability efforts.
With a market capitalization of Rs. 1,40,642 Crores, the shares of ABB India Limited were trading at Rs. 6,636.90 per equity share, down 1 percent from its previous day’s close price of Rs. 6,704.50.
Written by: Bharath K.S
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