September 4, 2024
The Future is Electric - Now’s the time to capitalize on it!
Did you know that over 10 million electric cars took the roads across the world in 2020?
Back in 2017, at the Bloomberg Global Business Forum (New York), industry leader Anand Mahindra stated that clean technology will emerge as the “single biggest business opportunity for the next couple of decades”. He further stated:
“We’ve just been believers for a while, haven’t been making any money, but now the tipping point seems to be reached.”
And he was right!
Despite the dire economic consequences of the Covid-19 pandemic, EV car registrations skyrocketed in the major markets. According to IEA’s Global EV Outlook 2021, the global electric car stock peaked at 10 million in 2020, indicating a 43% increase since the past year (2019).
India: The untapped market with huge potential
India is an emerging market ripe with new possibilities for innovation. With Tesla in the Indian EV market and magnates like Tata and Mahindra launching their EV versions, India is geared up for the electric revolution. In 2020, the Indian EV market value stood at $5 billion. By 2026, the EV market is projected to grow at a CAGR of 44% to reach a value of $47 billion.
Although at a nascent stage, India’s EV market is growing rapidly, thanks to the initiatives adopted by both private players and the government of India. For instance, Niti Aayog plans to create actionable strategies to target 30% electric vehicles in India by 2030, powered by green technologies such as solar. Furthermore, we’ve witnessed significant growth in the Indian EV sector after the FAME India Scheme was implemented to promote electric vehicles.
With such favorable schemes and initiatives, India is walking towards a sustainable future to address the rapidly escalating environmental concerns and economic challenges.
EV Charging: Why do we say it’s the most profitable business model of the 21st century?
The EV revolution is here and it’s here to stay! While the world is seeing a surge in EV uptake, the same can’t be said about establishing EV charging infrastructure. And this is where the business opportunity comes into the picture.
Transportation is the lifeblood of every economy. Until now, the global transportation business/service had been dependent on petroleum giants of the OPEC network; a multi-billion dollar industry. The switch towards EVs is going to shift the dependency from the fuel companies to EV solution providers, entirely flipping the business landscape.
The EV Revolution is all set to dynamically change the transportation and business ecosystem; making it an open opportunity to any and everyone to start this business without any heavy investment or complications.
What’s more interesting is that an EV Charging business is not bound by geographical limitations. It is an open opportunity not only for individuals having properties at commercially viable locations but can also act like a side business and attraction for real estate businesses, retail shops, malls, offices, tech parks, etc.
Of course, all the businesses who leverage this opportunity now will not only attract the majority of EV users to their businesses but can also capture a sizable share of this emerging EV market in India.
The bottom line? Anyone can capitalize on this fantastic business opportunity by setting up an EV charging infrastructure without incurring hefty investments.
EVRE is making this opportunity more feasible for individuals and business owners across the country. It offers the complete EV charging ecosystem - a number of bespoke EV charging stations designed using EVRE’s patented technology, a consumer app, and a business dashboard.
Right from bringing you on the radar of all EV users to allowing them to reserve the charging slot and making online payments - everything happens online via the app. And the business dashboard helps you keep real-time track of your EV Charging stations making it a hassle-free unmanned operation. The best part is the interoperability of the system which allows integration of EVRE to your existing business apps to provide ease of business.
So while you do what you do best, you can also earn a good side income without any manual intervention or efforts and own an EV Charging hub.
An EV usually takes 5-6 hours for a full charge using a slow charger and 2 hours to fully charge using a fast charger. So while your consumer’s EV charges, they will have all the time in the world to avail your services.
Real Estate builders can leverage this opportunity to gain a competitive edge, upsell their properties by making them future-ready.
Workplaces on the other hand can provide this as energy as a service (EAAS) to their employees and contribute to the bigger mission of bringing sustainability to this world and scale up their CSR.
Companies and governments around the world are taking the oath to switch to electric vehicles which makes this a promising opportunity for individuals interested in setting up public charging infrastructure.
The crux is, EV Charging Business is filled with numerous opportunities, and businesses who leverage this now can make history by becoming the early adopters and leaders in the EV Charging Space.