Admits the Pandemic EV Charging Business is expected to Grow Positive

A recent study by private firms has shown that there is a higher percentage chance of EV
charging business to grow by at least 50 percent by the end of 2022. Even though the pandemic
has shaken the predicted date bits, as the economy is opening up, experts are hoping things to be
back to normal. The push for such a growth figure is due to the increase in EV production and
adoption by the Indian public at large compared to the previous years.

On such firm which is growing with the predicted phase is Delta Electronics. The company as of
Jan 2020, managed to install over 700 charging stations India wide and currently setting up its
third plant in Tamil Nadu as a part of its USD 500 million investment plan. According to Mr.
Akshaye Barbuddhe ( India Business head- Delta EV Charging solutions), the company till now
was able to supply the needed charging stations to its clients irrespective of capacity and type
and it wouldn’t take the company more than  three years to see a substantial growth in terms of
its market share, growth, and production capacity. Mr. Akshaye also added that as more and
more manufactures come into the picture, the supporting infrastructure and market will also
witness a reciprocating growth and the company has estimated total market revenue of close to
USD 10 million in the year 2020-21 as compared to the previous year were the formal business
juts kick-started.

Delta Electronics as of now only have a production of capacity of 100 EV chargers per month,
which needed to ramp up to at least 500 in the upcoming months to meet the market demand. For
this rapid expansion, out of the USD 500 million investments in Tamil Nadu almost 40% would
be redirected towards R&D lab which would fasten the phase of production and innovation
turnaround time. The company as of now is aiming more on the public charging infrastructure
with their next-generation “DC and AC city Charger Max” as governmental reforms are already
on the track for converting the available public transport systems to EV standards. Delta is also
present in the global fronts as the company’s expertise lies in providing e-mobility services for
the past seven years with manufacturing facilities in countries such as Slovakia, Taiwan, and
China