Expanding India’s EV Charging Network Is Key To Sustaining The Electric Mobility Boom

ThunderPlus is transforming India’s EV charging infrastructure with its rapid expansion and cutting-edge technology. As one of the fastest-growing players in the sector, the company has installed over 2,000 charging stations across 65 locations, addressing range anxiety and enhancing accessibility.

In an interview with Bizz Buzz, Rajeev YSR, CEO of ThunderPlus and Group CMO at ETO Motors, highlights the company’s vision, stating, “We are committed to building a fully integrated EV charging ecosystem that meets India’s growing demand.” With partnerships spanning Bharat Petroleum, Delhi Metro, and BigBasket, ThunderPlus is strengthening its market leadership. The company’s franchise model, strategic collaborations, and focus on next-gen technologies like ultra-fast and wireless charging are set to drive its ambitious goal of scaling up India’s EV infrastructure over the next five years

How has ThunderPlus grown?

ThunderPlus has established itself as one of the fastest-growing EV charging companies in India, significantly contributing to the country’s electric vehicle (EV) ecosystem with its innovative manufacturing and technological advancements. The company has become a trusted name in the industry, alleviating range anxiety through cutting-edge charging solutions. With India’s EV industry projected to grow at a CAGR of 36 per cent by 2026, and the EV charging infrastructure expected to be valued at $190 billion by 2030, ThunderPlus has positioned itself as a fully vertically integrated charging company. It operates across the entire value chain, from manufacturing to charge point operations (CPOs). This strategic approach has allowed ThunderPlus to build a strong foundation and capitalize on market growth opportunities.

The company has already installed over 2,000 plus charging stations across 65 locations, making it a leading player in India’s EV ecosystem. ThunderPlus is the only company in India to introduce a multi-vehicle fast charging station, addressing the needs of various electric vehicles, including two-wheelers, three-wheelers, four-wheelers, and buses. Additionally, ThunderPlus has secured major clients such as Olectra, Saera Keto, KETO, ETO, Bharat Petroleum, South Central Railway, BSES, Delhi Metro, and BigBasket. These partnerships highlight the company’s reliability and dominance in the sector. To further expand its reach,

ThunderPlus has launched a franchise model starting at Rs 6 lakh, guaranteeing monthly revenue for investors.

What are the challenges faced by EV charging station manufacturers?

Despite the rapid growth of EV infrastructure in India, manufacturers of EV charging stations face several challenges that impact their expansion and operational efficiency. One of the primary issues is the high cost of infrastructure development, as setting up a reliable and high-speed charging station requires significant capital investment. Additionally, grid integration remains a challenge, as the national power grid is not yet fully optimized to handle the rising electricity demand from EV charging networks.

Another major concern is regulatory approvals, as the process of obtaining clearances from multiple government bodies can be time-consuming and complex. Furthermore, land acquisition is a critical hurdle, as securing prime locations for charging stations in densely populated urban areas or along highways involves bureaucratic and logistical difficulties.

Interoperability issues also pose a challenge, as different EV models have varying charging standards, requiring manufacturers to invest heavily in research and development to ensure compatibility. Lastly, consumer awareness and adoption of EVs remain lower than expected, which affects the demand for charging infrastructure and delays return on investment for operators.

How has the company grown?

Since its inception, ThunderPlus has expanded rapidly, building a robust network of charging stations and pioneering innovative charging technologies. The company has successfully installed over 2,000 plus charging stations at 65 locations, including highways, urban centers, and commercial hubs. ThunderPlus has played a key role in the Indian EV revolution by launching a range of advanced AC and DC chargers, including the Thunder Tej (fastest charger for two-wheelers and three-wheelers) and Thunder Lite (affordable universal charger for two, three, and four-wheelers, suitable for residential use).

ThunderPlus has also partnered with TATA Motors to install 250 fast charging stations and with Bharat Petroleum to deploy chargers at petrol pumps, ensuring widespread availability of charging infrastructure. Moreover, it has successfully secured access to 150 railway stations for setting up 30 charging stations as part of the first phase, expected to be completed by December 2024. The company has also established India’s first-ever EV-ready post office in Hyderabad, further solidifying its leadership in the industry.

What kind of locations are favourable for EV charging stations? How many cars should a station serve to become profitable?

The success of an EV charging station heavily depends on its location. The most favourable sites include highway rest stops and fuel stations, which cater to long-distance travellers needing quick recharge solutions. Urban parking lots and shopping malls are also ideal, as they provide convenience to city commuters. Additionally, residential complexes and corporate offices offer significant potential, ensuring daily accessibility for EV owners. Railway and metro stations are also excellent locations, as they integrate well with public transport networks and promote last-mile connectivity.

For an EV charging station to become profitable, it should ideally serve at least 50 to 100 vehicles per day, depending on electricity tariffs and operational costs. High-traffic locations generate better returns by ensuring a steady stream of EV users, making it crucial for companies like ThunderPlus to strategically expand in densely populated and high-commuter areas.

How many charging stations do you plan to have in the next five years?

ThunderPlus has an ambitious roadmap for the next five years, focusing on exponential expansion and technological advancements. The company aims to significantly increase the number of charging stations across India, ensuring widespread accessibility for EV users. Its plans include scaling up its fast-charging networks in collaboration with major automobile manufacturers and fuel companies.

ThunderPlus intends to deploy cutting-edge charging solutions, such as wireless EV charging, cluster charging hubs, and mobile EV charging units, to further revolutionize the market. The franchise model will also play a crucial role in scaling up the network, as it allows small and mid-sized entrepreneurs to invest in EV infrastructure while ensuring a steady revenue stream.

How will the technology evolve over the years?

The EV charging industry is poised for significant technological advancements in the coming years. Ultra-fast charging technology is expected to reduce charging times drastically, making EV refueling as quick as conventional fuel stops. Wireless charging solutions will allow EV owners to charge their vehicles without physical connectors, enhancing convenience and efficiency.

Moreover, battery-swapping stations are likely to gain traction, particularly for fleet operators who require quick energy replenishment. Smart grid integration will enable better power distribution and load balancing, ensuring uninterrupted charging services. Solar-powered EV charging stations will also emerge as a key trend, reducing dependency on traditional energy sources and promoting sustainable energy usage.

Can these stations be located at petrol pumps?

Yes, EV charging stations can be integrated into existing petrol pumps. ThunderPlus has already collaborated with Bharat Petroleum to set up fast chargers at fuel stations. This model provides multiple advantages, including leveraging existing infrastructure, ensuring greater visibility, and offering convenience to vehicle owners transitioning to EVs. The presence of charging stations at fuel stations can also encourage traditional vehicle users to consider switching to electric mobility.

How many EV charging stations does India require?

With the rapid adoption of EVs, India is estimated to need over one million charging stations by 2030 to accommodate the growing demand. This includes 500,000+ public fast-charging stations, along with residential and corporate charging hubs. Additionally, a strong network of charging stations is required at railway stations, metro depots, and major transit points to support seamless EV usage. Government initiatives and private sector investments will play a crucial role in achieving this milestone.

Is there scope for exports?

Yes, there is a vast potential for exporting EV charging solutions, particularly to markets where the adoption of electric vehicles is growing. ThunderPlus, with its advanced range of AC and DC chargers, can expand its presence in Southeast Asia, the Middle East, Africa, and Europe. Countries like Thailand, Indonesia, UAE, and South Africa are actively developing their EV infrastructure, presenting lucrative opportunities for Indian manufacturers to supply charging solutions globally.

Do you have any plans to scale up production?

ThunderPlus is fully committed to scaling up production to meet the rising demand for EV charging infrastructure. The company aims to expand its manufacturing capabilities, invest heavily in research and development, and enhance production efficiency. By ramping up production, ThunderPlus can cater to both domestic and international markets, ensuring a steady supply of high-quality charging stations. Additionally, the company is focused on developing next-generation charging technologies, such as wireless charging, ultra-fast chargers, and smart-grid integrated solutions, to stay ahead of the competition.