The Centre has sharply reduced the benchmark prices for electric vehicle (EV) chargers, a move that could significantly lower subsidy outgo and accelerate the rollout of public charging infrastructure across the country, LiveMint reported.
According to the report, the Ministry of Heavy Industries has revised downward the benchmark costs for EV chargers of various capacities, following a sharp decline in equipment prices and growing competition among manufacturers.
Under the revised benchmarks, the cost of a 60 kW charger has been cut by 28 per cent, while that of a 30 kW charger has been reduced by 17 per cent. Benchmark prices for 120 kW chargers have also been lowered by 13 per cent, LiveMint said, citing government officials.
Operators said the steep reduction in benchmark costs could also lead to lower subsidy claims under government schemes such as the PM E-Drive programme, which supports the deployment of EV charging infrastructure.
The government uses benchmark costs to determine subsidy disbursements. In some cases, subsidies can cover the entire cost of chargers of 50 kW and 100 kW capacities, the report noted.
The reduction reflects the growing maturity of India’s EV charging market, with declining input costs and increased competition among domestic and global manufacturers. Earlier benchmarks were set in 2022, when charger prices were significantly higher, LiveMint said.
As per the report, the benchmark cost for a 100 kW charger has now been brought down to around ₹13 lakh, compared with about ₹18 lakh earlier, according to estimates cited by industry executives.
The country currently has around 29,200 public charging stations, according to government data quoted by LiveMint. The government has been pushing faster deployment of chargers to support the rapid growth in EV adoption, particularly in the two-wheeler, three-wheeler and passenger vehicle segments.
India’s EV penetration rose from about 1.3 per cent in FY22 to nearly 4.7 per cent in FY24, the report said, driven by falling vehicle prices, policy support and expanding charging infrastructure.
Industry executives told LiveMint that the revised benchmarks would help align subsidy support with market realities, while encouraging more private players to invest in charging networks without excessive dependence on government support.
