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Government to give Rs 800 crore subsidy to OMCs for setting up EV charging points

28 Mar 2023 , 11:29 AM

The Ministry of Heavy Industries is providing a subsidy of Rs 800 crore to India’s public sector oil companies for setting up 7,432 electric vehicle charging stations. This move aims to complement the current 6,586 public charging stations in the country, as per official records.

In an interaction with the press, Mahendra Nath Pandey, the Minister for Heavy Industries, stated that the initiative will promote the usage of electric four-wheelers in India.

Sources familiar with the matter have indicated that the subsidy will only apply to the installation of Combined Charging System (CCS) – II fast chargers for electric vehicles, and not for CHArge de MOve (CHAdeMO) chargers.

India has chosen the Combined Charging System (CCS) over CHAdeMO, as both use distinct plug types, with CHAdeMO being originally designed for Japanese carmakers, while CCS was developed for European ones. 

The Indian Ministry of Heavy Industries will provide a subsidy of Rs 800 crore to oil marketing companies (OMCs) IOCL, BPCL, and HPCL to install and commission EV public charging stations at fuel retail outlets across the country. The funding will be used for setting up upstream infrastructure and charging equipment.

According to the Minister, the aforementioned oil companies have pledged to establish the EV charging stations by the conclusion of the fiscal year 2023-24.

For feedback and suggestions, write to us at editorial@iifl.com


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