Top EV Charging Companies in India: Over the past fiscal year, we have witnessed the rise of EVs taking over fuel-based vehicle segments. During 2021-22 the sales of EVs jumped threefold to 4,29,217 units as compared to 1,34,821 units in 2020-21.
This is just the beginning as a lot of automobile companies are yet to launch their EV. The majority of this is credited to EV two-wheelers that account for 2,31,338 units in 2021-22, as per Economic Times. Rising fuel prices, higher maintenance costs, and strict emission regulations have slowly turned the tide against petrol and diesel vehicles.
While this shift provides a cemented solution to the problems of climate change, air pollution, and overall vehicle costs, it also brings one important concern under the limelight – What happens when the battery runs out?
Presently, fuel stations far outnumber the number of charging stations in the country. In fact, most EV owners are solely dependent on the charging station set up at their homes.
The companies we’re talking about today are specifically here to put those EV concerns at ease. Hello Finvestors, let’s take a look at the top EV charging companies in India.
List EV Charging Companies in India
1. Tata Power
Of all EV sales that occurred in India in 2021-22, Tata holds a strong 85% market share in the EV market presently. Their net sales for 2021-22 were 15,198 units. This is close to a 500% increase from 3,523 units in 2020-21.
With this impressive growth, Tata also needs to build a network of charging stations for its expanding customer base. At present, the company has over 1000 charging stations across 180 cities and this number is expected to rise in the coming years.
The company is currently in partnership with multiple EV manufacturers to expand its network.
2. Ather Energy
Ather is a Bengaluru-based E-scooter company that manufactures battery-based premium scooters. They are backed by Hero Electric and were one of the first EV manufacturers in the country.
They have over 200 charging stations located across their established cities. The EV is currently available across 9 major cities in India and is planning to expand to 50 cities in the next year.
3. Okaya
Similar to the EV companies above, Okaya provides charging solutions as well as its own electric vehicle to customers. They have a partnership with Prakriti-E-Mobility, a company that operates its own EVs.
The company has over 350 dealerships across India. Besides their EV line, they have a range of batteries and charging options for customers including Lithium ion batteries, solar batteries, and E-rickshaw batteries.
4. ABB India
The company was incorporated in 1949 under the name Hindustan Electric Company Ltd. The company later became Asea Brown Boveri Ltd or ABB Ltd. Their core business was power systems, transformers, and power distribution. The company also manufactured switches, sockets, and regulators in the Indian market.
They recently bagged a contract with Audi India for charging solutions for Audi’s E-Tron electric vehicle segment.
5. Amara Raja
Amaron, or Amara Raja Batteries is one of the top battery manufacturers in India. They make batteries for LMVs, SUVs, trucks, motorcycles, and scooters. The company is one of the veteran competitors in the EV segment, with a history dating as far back as 1985.
They are the 2nd largest battery seller in India. The company has invested 10 million in InoBat Auto, a European company focused on the R&D of electric solutions for EVs and lithium ion batteries.
6. Exide Industries
Exide is the oldest battery manufacturer in India and the fourth largest in the world. They are also the largest battery-selling company in the country. The company was incorporated in 1947 and has been operational for more than 75 years.
Their core business is in the manufacturing and sale of automotive batteries for two-wheeler and four-wheeler vehicles. With the demand for EVs soaring across the automotive industry, everyone will be keen to know more about the Battery Giant’s next move in terms of electric vehicles.
Recently, the company has begun operations at India’s largest battery factory located in Gujarat in a joint venture with Leclanche SA. The factory will produce batteries for cars and energy storage units.
7. EVRE
This Bengaluru/Hyderabad-based startup focuses on providing charging solutions for residential and commercial workspaces. EVRE is also working on providing charging stations in public places that can be accessible by the general public quickly and easily.
They are currently partnered with GoMechanic, a vehicle service company to set up charging stations across all major cities in India. GoMechanic already has an established presence in over 35 cities with 800 workshops, which makes it one of the top EV Charging Companies in India.
In Closing
The inevitable revolution toward greener transportation has created a ripple effect in the industry. The government has announced tax benefits and subsidiaries for manufacturers and customers if they opt for EV options. In the long term, we might be slowly moving towards an all-electric economy.
If you like this article on “EV Charging Companies in India”, then do check out our other articles about EV stocks in India. Happy Investing!
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