EV charging station franchise- a profitable business option

Electric vehicles haven’t become mainstream in India yet, but there are ample indications to prove that demands are rising rapidly. According to trusted sources, the demand for electric vehicles in the last 3 years has grown by leaps and bounds, double to be precise.

The rise in demand for electric vehicles has been attributed to increasing fuel prices and the Indian government’s push to adopt electric mobility to lessen vehicular pollution.

Several initiatives have been taken, not only by the Central Government but many state governments too, to promote electric vehicles. For example, the Centre has reduced the GST rate on EVs from 12% to 5%. Further, GST on setting up EV infrastructure such as charging stations has been reduced from 18% to 5%.

Recently, the Delhi government has declared its own electric vehicle policies that are aimed to incentivize those who adopt e-mobility. Some of the benefits of Electric Vehicles are lower running costs, low maintenance costs, zero tailpipe emissions, financial benefits, ease to drive and quietness, no noise pollution, and convenience of charging at home.

Due to the elevated rise in the demand for e-vehicles, there has been an increase in the demand for electric charging stations across the country and overseas.

If you are searching for a new business opportunity that can provide you profit in the near future. Then, the electric charging station franchise is one of the best available options presently.

What is an electric charging station?

Non-electric vehicles need petrol stations and electric vehicles need electric charging stations. Electric Charging Station is the place from where electric vehicles are charged. Many charging stations also come with features of network connectivity. The charging cost in these stations is less than petrol or diesel.

Why setting up an EV charging station in India a profitable business option?

There is no denying the fact that due to rising fuel prices, and increasing noise and air pollution, the electric vehicle market will flourish at a rapid shortly. Hence, EV charging stations are going to become a necessity, and setting up an EV charging station is surely going to become a promising business prospect.

What are the three types of EV charging?

Trickle Charge

Considered to be the slowest method of charging electric vehicles, this type of charging involves a basic charger of 120-volt. With an hour of charging, it can provide nearly 8 km mileage to the vehicles.

AC Charge

Faster than trickle charge, it has a charging capacity of 240 volts. Out of all charging types in this list, AC charge is the most commonly used.

DC Charge

DC charge is the fastest in this list and has a charging capacity of 480 volts. With 10 minutes of charging, it can provide almost 64 km mileage to the vehicles.

Why EV Charging Station Franchise is a great business opportunity?

To deal with air pollution, noise pollution, and increasing fuel prices, the government of India is promoting e-vehicles and introducing supportive policies. Many e-vehicle manufacturing companies across the globe are now interested in expanding their market in India. This is a great opportunity for potential franchisees.

These charging stations can be set up in public places like parking areas, shopping malls, tourist places, busy markets, and the list goes on. To start an EV charging station franchise, one has to have complete knowledge about this segment, including the companies that are offering franchises, their terms, and conditions, government regulations, etc.

What is the approximate cost of an electric vehicle charging station franchise in India?

The cost is usually from INR 1 lakh – INR 40 lakhs. Here is a rough estimation.