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Reliance Energy strides fast on the EV path; Starts with Mumbai

Reliance Energy has plans to set up EV charging infrastructure in Mumbai, Maharashtra across its distribution area. The company was recently sold to Adani Transmission resulting in M&A of value Rs 18,800 Cr. This was done in order to ease out the debt burden on Reliance Energy.

Currently, Reliance Energy has plans to set up over 15 charging stations in Mumbai by 2020. This comes as a result of the Government’s long term plans to convert the existing vehicles on road to Electric vehicles by 2030. Reliance Energy wants to become one of the few players on the likes of Tata Power who provide a good EV charging infrastructure across the country in the coming years.

This will help India to smoothly adapt to the new technology of EVs in the near future under Faster Adoption and Manufacturing of Electric Vehicles Scheme (FAME) of the Government.

Currently, the main challenge which is being faced by the Government and Companies is cost bearing of EVs and providing good EV charging infrastructure. Government has already announced an incentive of Rs 1 lakh per vehicle in form of a subsidy in order to make EVs more affordable for Indian citizens.

All we can say at the moment is that, let’s wait and watch as, more aggressive efforts are needed by the Indian Government as well as Companies in order to make this technology successful in India.