The electric vehicle charging business will grow to 50% over the next 3 years in India: Delta Electronics
NEW DELHI: energy and energy management company Delta Electronics He expects his electric vehicle charging business in India to grow around 50 percent annually over the next three years with more car manufacturers bringing their electric vehicles to the country, according to a senior company official. The company, which has so far installed more than 700 charging stations in India, is currently in the process of establishing its third plant in Krishnagiri in Tamil Nadu as part of its $ 500 million investment program until 2026.
This year, we have supplied nearly 700 EV chargers of different types and capacities. We see that in the first years there will be a minimum growth of 50% and the market will evolve in three years. Indian Electronics Head of business, EV charging solutions, said Akshaye Barbuddhe.
He said that the EV charging ecosystem is only expected to grow with more and more car manufacturers that bring or plan to present their electric vehicles in the country.
There is a reason for that. Three or four years ago there was a very limited number electric car modelos, hoy al menos tienen cuatro , dijo, y agregó que uno de los segmentos del mercado de electric vehicles (EV) se está desarrollando.
Currently, the great specialties of Mahindra and Mahindra homegrown cars and Tata Motors have electric car s. While Hyundai launched is electric SUV Kona in July, MG Motor India is slated to bring ZS EV in January in the market.
While the car market leader Maruti Suzuki has been testing a fleet of 50 electric car s based on its WagonR model platform, it has stated that it would not commercially launch electric car for public use citing lack of infrastructure and government support. Originally, the company had planned to launch it in 2020.
When more electric vehicles are launched, it is added to the fuel, he said, adding that electric mobility would also bring the exchange of charging infrastructure in the future.
When asked about India's revenue targets, Barbuddhe said that for the company until this year there were no formal businesses but as of next year we have a formal budget that we have to pursue in the market revenue of $ 10 million.
He said the company has committed an investment of $ 500 million until 2026. Of these, $ 200 million are earmarked for the creation of the first phase of the Krishnagiri plant and the R&D laboratory. Spread over 125 acres, the units Krishnagiri will be developed in five phases, which also include SEZ.
Delta Electronics has two other factories at Rudrapur and Hosur.
As of now we have a capacity of 100 EV chargers per month, which we can increase to 500 in three months. We have no restrictions, but we will do it according to market demand, Barbuddhe said.
Recently, the company presented its next-generation charging solutions, DC City Charger and AC Max, which will meet the need for public cargo infrastructure.
He has also presented his conceptualized E-Mobility Tech Experience Center to provide an industry platform to support all kinds of classifications and configurations and become a facilitator to understand the ecosystem of EV charging solutions.
Worldwide, Delta has been active in the electronic mobility space for the past seven years with dedicated manufacturing facilities in Slovakia, Taiwan and China.