Ultra-Fast Charging Stations for Electric Vehicles and EV Batteries
According to leading consultants, the global EV charging station market is expected to reach $28.93 billion by 2025.
India may have made the EV dream a reality. But there is still a way to be paved for this. Unlike internal combustion engines, ultra-fast electric vehicle charging stations are required to power electric vehicles. With the number of electric vehicles approaching 2 billion, the need for fast, co-efficient charging stations is increasing.
The global market for EV charging stations is expected to grow at a CAGR of 44% by 2025, which is estimated to be $28.93 billion.
The current challenge with electric vehicles is the time taken for a full charge using a standard charger is about 8 hours. Compare this with the time taken to refill our petrol/diesel vehicles. We can understand why people in India are hesitant to go for electric vehicles in today's time.
Since the inception of electric vehicles, every company in the industry has been working on developing technology that can close the gap between the time it takes to charge an electric vehicle and the time it takes to refill a gasoline tank.
Overview of Ultra-Fast Charging Stations for EVs Around the World
Companies like Alfa, Tata Power, Fleely are trying to build their own network of fast charging stations across the country. The fast growing EV market in India is expected to produce 2655 UFCs every 25 kms by 2023.
While customers keep looking for cheap and quick solutions. Understanding the type of charging system and the cost of setting up and using a charging station can go a long way.
These Ultra Fast Charging Stations (UFCS) are DC micro grid based concept. and promised to meet the power requirement of electric vehicles in less than 10 minutes. Government companies around the world are urging these UFCS to be easy to use.
In some countries, these UFCS are more or less the same as any fuel station from the point of view of usage. Across Europe, EOn has already built 3,000 UFCS with 175kW ultra-fast charging capability. The steps to find the ultra fast charging station and fully charge your vehicle are quite simple.
Various companies across the world have opted for a similar model which makes charging of electric vehicles hassle-free.
AC charging (Level 1 and Level 2) is useless for simple, low-tech electric vehicles such as two-wheelers. Whereas DC charging is for large and tech-rich electric vehicles.
UFCS for Personal and Office Use:
There are companies like Fleely that provide electric vehicle charging station. their customers are major:-
- Corporate offices that wish to offer an in-house charging station for their employees or
- Individuals prefer booths for personal use or want to set up stations.
These stations are easy to set up. Because they need zero to minimum infrastructure. It costs around $1000-1500 depending on the manufacturing company and facilities.
Public UFC Station:
Creating a public UFCS is quite a business affair. The requirements for making it are many. And the cost varies depending on the services offered in the cities/countries.
In the Asian-Pacific regions, it can cost you around Rs 7 to 25 lakhs. But as this market continues to evolve, the cost is expected to come down over time.
An example of a public UFC station in India is Fleely. The process is quite simple and easy.The customer just needs to have a fleely app, where the nearest location of the station can be identified. The CSS or ChaDeMo charging gun needs to be removed from the charging station and inserted into the EV charging socket.
Then you have to switch on the fleely app and enter the relevant details and the battery management system will connect to the charging station.
EV customers are definitely looking for more ultra-fast charging stations that are hassle-free and user-friendly.
The Business Side of an EV Charging Station:
From a business point of view, how profitable is an ultra-fast charging station? Is it worth investing in a complete Ultra Station set-up, especially as the Indian government is working hard to grow the EV industry?
Initiatives like a scheme to set up one charging station every three kilometers and one charging point at every petrol pump have been taken by the Government of India.
The future of fast charging stations for electric vehicles is bright. Currently, there are limited EV charging stations installed. In India only metro and A-tier cities are privileged but stations are very limited.
One of the main reasons why customers switch to petrol/diesel vehicles is the lack and easy accessibility of ultra-fast charging stations.
There is a certain EVs customer base in metro and A-tier cities of India. Also, in the coming 5-10 years, small cities of India will understand the EV culture and will also adopt its benefits.
Hence, investing in EV ultra fast charging and expanding the EV space is definitely a golden business move.