India has properly begun the challenging transition from fossil fuels to electricity, with the goal of benefiting both planet and citizens in the long run. India's renewable energy targets prove that it is striving to make a quick shift to electricity. The government has set an ambitious goal of 175 GW of renewable energy production by the end of 2022, and 300 GW by 2030. With the trend shifting from fossil fuels to electricity, every industry wants to gear up to contribute: including automobiles. Studies reveal that the demand for EVs is spiking, incentivising manufacturers to produce more electric 2 and 4-wheelers. If you're looking for a business idea that will stand you in good stead in the future, an EV charging station franchise is a great choice. With the growth in EV sales, the profit margins of business owners in the industry will also increase. Now, time to learn how to start your own EV charging station franchise in India!
An EV charging station is a place where owners can charge their electric vehicles. It is essentially a location that has numerous charging spots for cars & 2-wheelers. With the rapid rise in popularity & affordability of EVs in India, it’s not wrong to say that electric vehicles are the future. Thus, setting up an EV charging station will get you a high return on your investment.
If you want to start a business in the EV industry, you can partner with key players in India’s EV manufacturing sector. Some of them are: Four-Wheelers: Morrison Garages, Mahindra, Tata, Hyundai, Nissan
Two-Wheelers: TVS, Pure EV, Joy e-Bike, Hero Electric, Honda, Ather Energy, Ultraviolet, Ampere, Okinawa, Revolt Motors, Komaki
Basic requirements for setting up an EV charging station franchise:
Before we dive deeper, it's crucial to understand how much an EV ChargePoint franchise costs. It is a highly profitable business, and you’ll need between ₹1-10 lakhs to get started. The precise investment will depend on factors like power output, setup and handling charges, and the company’s (the one you choose to partner with) market reputation. For example, if you choose Bharat AC-001 as a charger type with a 3.3 power output, you'll have to spend nearly ₹70000 for the charger cost. On the other hand, choosing CHAdeMO or CCS as charger types with 50 power output will set you back around ₹14,40,000 - ₹14,50,000.
Besides this, there are a few more upfront expenses: around ₹7.5 lakhs for a new electricity connection, ₹2.5 lakhs for civil work, ₹3.5 lakhs for maintenance, and approximately ₹6 lakhs for leasing the land (the cost will vary according to size and location).
You’ve already learned about India’s EV industry, franchise eligibility criteria & costs involved. Now, let's look at the top companies that offer charging point franchises!
TATA is one of the oldest & most reputed companies globally, and they’re heavily into EVs nowadays. To apply for their franchise, go to their official website, click on EV charging solutions & choose the EV charging solution you need. Once you submit the information, the chatbot will reply. While submitting information about your business, ensure you add valid details including name, company, email address, mobile number, billing, HR, project, and SED.
Charge+Zone is another key player working relentlessly in the EV field. They manufacture eco-friendly EVs, and are offering franchises to whoever wants to start a new business. A highlight of this company is its mobile app, that helps EV owners locate charging stations near them. If you're interested in their franchise, simply contact them via call, text, or email. Before applying, however, check eligibility conditions and investment amount to avoid last-minute hiccups.
PlugNGO offers 3 franchise models, each with different eligibility requirements - Model 1 Franchise:
Model 2 Franchise:
Model 3 Franchise:
The growth outlook for India’s EV industry is extremely bright. Numerous EV automakers are thriving, with more coming up to grab a slice of the proverbial EV pie. There will soon be charging stations in every corner of the world. Thus, the best time to get started is now. If you're looking to fund your EV charging station franchise, consider applying for a gold loan from indiagold. Our loans are quick, hassle-free & affordable: ensuring that you save precious time and can focus on starting your business immediately.
Good luck, and always remember - renewable energy is the future!