How To?

How to Start an EV Charging/ Petrol Pump Business in India?

Personal Finance

In most conversations, technological innovations like electric vehicles are becoming more popular. India evaluates the likelihood of a viable future that follows the 4th industrial revolution, which explains this. The installation of charging points is changing the landscape for the industry that operates gas pumps in India. It will be the same as opening a filling station in India, where there are endless economic possibilities. Charging bases are anticipated to expand in the upcoming years and take a sizable chunk of the world market.

Requirement of a charging point

Petrol pump businesses are progressively converting to digital technology to stop the circle of rising pollution and reduce the consumption of natural assets. This increases CO2 release in our atmosphere. Our nation is currently experiencing a surge in electric vehicles. The total number of registered EVs across all sections touched 3.13 lakh units in 2021, as per the data from the Union Ministry of Road Transport and Highways.

It continues by predicting that the EV sales registered in 2022 will reach 1 lakh in only 2 months. The nation wants to have a share of 30% in the electric vehicle (EV) sector by 2030, as per the NITI Aayog study. These data collectively indicate India’s steady progress in the direction of an EV revolution.

Let’s define the charging point’s services first to get things started. Urban streets are filled with motorbikes, scooters, and various electric vehicles. Till recently, home charging was the default for electric vehicles. A specialized charging point is not available everywhere, though. However, petrol pump businesses are now setting up charging points in parking areas or on the highway to enable charging services as technology develops.

Charging station’s start-up cost

Capital and functioning expenditures are the two types of expenses that determine whether a corporation will be financially viable. Any petrol pump business’ ability to survive depends heavily on its ability to cover its operational costs. There are essentially no set operating costs when it comes to charging stations.

The Government of India has ruled that if the infrastructure for charging stations complies with “Ministry of Power” requirements, no authorization is essential to instal it. For this reason, it is not essential to seek a specific permit to transport, or anything else to recharge electric vehicle batteries. Because of this, the cost of installing EV charging points is restricted to the price of the chargers, electricity, software, infrastructure, marketing, and labour, as well as maintenance.

The average cost to create an EV charging point is expected to be anywhere around Rs 1 to 50 lakh. It depends on the kind of chargers installed, according to experts. Standard costs include, for instance, the price of a new electric connection, civil work, technicians and labour, marketing and advertising, site contract, and software and integration for EVSE administration.

EV chargers types

Fast Chargers

All around the nation, these are rapid chargers for EVs and are typically placed alongside major highways. An EV can be swiftly recharged using the device’s high-power direct current (DC) output. Vehicles with large battery capacities that support quick charging can be charged with fast chargers. The fast charging option is therefore unavailable for vehicles 2 and 3-wheeler vehicles. The power of these machines typically is between 15 kW to 150 kW. The EV’s ability to charge within a certain amount of time, however, is also a factor in rapid charging. These can be put in place in areas where high power is available.

Slow Chargers

Slow charging is provided for EVs by AC chargers. These low-power slow chargers are simple to install in any household complex because they need less power. However, they take an average of 6 to 14 hrs. They are more manageable and less expensive. These kinds of chargers are typically used by 2- and 3-wheeled electric vehicles.

Requirements for Installing a Charging point

AREA: The location is crucial if you want to operate a Charging or petrol pump business. Which area should I choose? First, select shopping centres in the neighbourhood that have theatres for movies. Because patrons spend at least three hours viewing the movie and one hour at the food court when they go to the movies. Within 4 hours, their automobiles have received a 70–80% charge. Customers will profit from this because it will save them time, and when they return, their vehicle will be fully charged.

MANPOWER:  One skilled worker and one unskilled worker are required for this firm. Power: To set up this plant, you will require a connection with a capacity of roughly 50 KW.  Marketing:  Initially, how are you promoting this company? In essence, this is online marketing that makes use of blogs, advertising, YouTube, Facebook, and Linked In.

LICENSE:  What sort of license, if any, is needed to launch this firm, if we’re talking about licenses? The fact that a license is not required is both a very excellent and significant benefit for this firm. A license is not required for establishing these stations, as per the Ministry of Power.

Summing Up

A charge business is possibly a hugely lucrative venture today. It requires little in the way of startup capital, business experience, or time commitment. It offers a rapid return on investment. It will consume less fuel and produce fewer pollutants. So the charging point can benefit the environment. Establishing charging or petrol pump businesses is therefore advantageous for the economy and also to sustain the emerging trends.

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