Investing in an electric vehicle (EV) charging station can be a great business opportunity. The Indian government is providing a 20% subsidy for setting up charging stations, and a small charging station can bring in up to ₹3 lakh per month. With over 1.5 million EVs registered in India in 2023, and a government target of 30% EV vehicles by 2030, the demand for charging stations is rapidly increasing.
The cost to set up a regular EV charging station ranges from ₹2 lakh to ₹5 lakh, which covers the charging machine, wiring, and other necessary equipment. If you want to install a fast-charging setup, the cost is a little higher, ranging from ₹5 lakh to ₹10 lakh. You can also get a franchise from a company to set up and operate the charging station.
A key benefit of this business is that the entire system is automated. Digital payment and monitoring systems mean you don’t need a lot of staff to run the station. This significantly reduces the manpower and running costs, making it a low-maintenance and potentially profitable venture.
Setting up an EV charging station is a smart move right now, as it not only helps meet the growing demand for electric vehicles but also aligns with the government’s push for a greener future. It’s a business that can serve the community and be profitable for years to come.
source
