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The EV market in India is flourishing, and with it increases the demand for EV charging stations. However, setting up an EV charging station is a costly endeavour. The cost of permits, installation, and equipment may add up quickly.
In this guide, we will explore the EV charging stations cost and discuss how to open an electric car charging station in India. You will also learn how a Business Loan can help you expand your EV charging station business in India.
Before setting up an electric car charging station, here are a few key considerations to take into account:
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An electric charging station franchise can be of three types: Level 1, 2 and 3. The cost of installing each type varies. Here is a table where you will find detailed information about the different types of charging stations:
Charger Type | Voltage | Power | Charging Time |
Level 1 | 240 V (AC) >=48 V (DC) | <=3.5 kW <=15 kW | 12 Hours |
Level 2 | 380 to 400 V (AC) | <=22 kW | 4-6 Hours |
Level 3 | 200 to 1,000 V (AC & DC) | Up to 400 kW | 80% in under one hour |
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If you want to know how to set up an EV charging station in India, here we have explained the complete procedure in steps:
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Fulfil these infrastructural requirements for setting up EV charging stations in India:
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The Central Government has issued the following guidelines for setting EV charging stations:
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The average EV charging station cost varies from Rs 1 Lakh to 50 Lakh, based on the following expenses involved:
The infrastructural costs for setting up an EV charging station include land and equipment-related expenses. Here is an estimated cost break-up:
Essential Prerequisite | Estimate Costing* |
Land lease @ Rs 50,000 per month | Rs 6 Lakh |
Civil Works | Rs 2.5 Lakh |
Electricity transformers, connections and energy meters | Rs 7.5 Lakh |
Technical team | Rs 3 Lakh |
Marketing | Rs 50,000 |
EVSE management software and integration | Rs 40,000 |
According to government guidelines, a public EV charging station dealership must have at least three fast and two slow chargers for charging vehicles. The costs of various chargers are as follows:
Types of Charger | Estimate Costing* |
Bharat AC - 001 | Rs 65,000 |
Bharat DC - 001 | Rs 2,47,000 |
Type 2 AC | Rs 1,20,000 |
CHAdeMO | Rs 13,50,000 |
CCS | Rs 14,00,000 |
Setting up an EV charging station offers several benefits. Here are some of them:
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Now that you know how to open an electric car charging station in India, let’s see how a Business Loan from Hero FinCorp can help expand the business:
Want to know how to expand an EV charging station in India with a Business Loan? Here is how to apply for a Business Loan through Hero FinCorp:
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Setting up an electric charging station franchise in India involves several equipment, permits, installation, and maintenance needs. However, the future of this business idea is promising, thanks to the growing demand for EVs and supporting government initiatives. If you need a Business Loan to cover the expansion cost of EV charging stations, apply for one with Hero FinCorp at a low Business Loan interest rate and flexible repayment terms.
1. What is an EV Charging Station?
An EV charging station is a facility where electric vehicle owners can charge their vehicles.
2. How many EV Charging Station Franchises are in India?
There are several EV charging station franchises in India, varying based on their charger types, business models, charging speeds, etc.
3. Where is the largest EV Charging Station in India?
The largest EV charging station in India is at the Delhi-Jaipur National Highway, Gurugram, with a capacity to charge 100 four-wheelers at a time.
4. Why do I need a Business Loan for an EV charging station?
The EV charging station expansion cost is higher, as it includes several of the latest equipment, installation, and maintenance-related expenses. That is why you may need a Business Loan to expand an EV charging station.
5. Can I use the loan to upgrade or expand an existing EV charging station?
A Business Loan has no end-use restrictions. So, you can use the funds to upgrade or expand your existing EV charging station.
Disclaimer- The content provided in this document is for informational purposes only. It offers insights into the process of starting an EV charging station, potential benefits, and various aspects related to this field. The information is based on general knowledge and industry research. The costs provided are only an approximation, and the actual expenses may vary depending on the scale of your business.
The act of paying out money for any kind of transaction is known as disbursement. From a lending perspective this usual implies the transfer of the loan amount to the borrower. It may cover paying to operate a business, dividend payments, cash outflow etc. So if disbursements are more than revenues, then cash flow of an entity is negative, and may indicate possible insolvency.
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