Government approves Rs 800 crore for setting up 7,432 EV fast charging stations

On Tuesday, the Ministry of Heavy Industries announced that three PSU Oil Marketing Companies (OMC) had received a total of Rs 800 crore under the FAME India Programme Phase II in order to construct 7,432 public Fast-Charging EV Stations across the country.

The funds were approved under Phase II of the FAME Programme. Three OMCs, Indian Oil (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL), have each received Rs 560 crore, or 70% of the total amount, from the ministry as the first installment for the installation and commissioning of Upstream Infrastructure and charging equipment of EV public charging stations at correlating retail outlets across the country.

The installation is expected to be completed by March 2024, according to a statement from the ministry. There are now 6,586 charging stations scattered across the nation. The press statement stated that the addition of the 7,432 new public charging stations would "be a significant boost to EV Charging Ecosystem" and that the capacity will be used to Recharge Electric 2-Wheelers, 4-Wheelers, Light Commercial Vehicles, and Minibusses.

The move, according to Minister of Heavy Industries Mahendra Nath Pandey, would improve India's electric car ecosystem and encourage more people to use cleaner forms of transportation. In order to achieve Prime Minister Narendra Modi's Net Zero Aim, he further stated that the government is committed to Promoting Eco-Friendly Mobility options and lowering the nation's carbon emissions. The minister added that the action will build a strong, publicly accessible Charging Infrastructure Network in India.