Electric Vehicles Theme

 Top Electric Vehicle charging company shares for a good return

By Amit Srivastava

For the success of Electric Vehicles (EVs), there must be a good infrastructure of charging stations across the country. Like we need petrol and diesel pump to refill vehicles' tanks, we will require charging stations to recharge batteries. 

Most importantly, petrol and diesel-run vehicles can refill their oil tanks within minutes, EV batteries require a longer time to recharge batteries. It means, there will be a demand for charging stations.

So, companies that provide charging infrastructure will be in demand in at least a decade.

As per a report, by 2027, the business of EV charging stations may grow up to $29.7 billion, at a CAGR of approximately 40%.

To promote EVs in the country, the government has decided to set up 70,000 EV chargers across the country in the next few years. Many of the charging stations have already come up in Metro cities.

The charging stations will also come at petrol pumps across the country. As an estimate around 22,000 EV charging stations will be set up at the existing infrastructure of 70,000 petrol pumps. Companies Indian Oil Corporation and BPCL have already pledged to use their outlets to set up 17,000 EV charging centers.

Even EV manufacturing Companies are tying up with startups to set up charging stations.

The top listed companies that will foray into creating charging infrastructure are Tata Power, Indian Oil Corporation (IOC), BPCL, Reliance Industries, NTPC, and Power Grid Corporation.