With the increase in fuel prices for petrol, diesel, and CNG, electric vehicles (EVs) are becoming a more attractive option.
EVs are cheaper to operate, and their demand is growing rapidly in both villages and cities.
This trend has boosted the need for electric vehicle charging stations, presenting a profitable business opportunity.
How to Start an Electric Vehicle Charging Station
To set up an EV charging station, you’ll need a piece of land, ideally between 50 to 100 square yards, located near a road.
The land must be owned by you or leased for at least 10 years. One of the benefits of this business is that it does not cause pollution.
Before starting, you’ll need to obtain permissions, such as a No Objection Certificate (NOC) from the Forest Department, Fire Department, and Municipal Corporation.
Additionally, the station must have adequate parking spaces, entry and exit arrangements, and essential facilities like clean drinking water, toilets, a rest room, fire extinguishers, and proper ventilation.
The cost to set up an EV charging station can range from Rs 15 lakh for smaller stations to Rs 40 lakh for larger, higher-capacity ones. Proper parking arrangements for vehicles are also essential for smooth operations.
Earnings from an Electric Vehicle Charging Station
A charging station with a 3000-kilowatt capacity can charge Rs 2.5 per kilowatt, earning Rs 7,500 per day or Rs 2.25 lakh per month.
After deducting expenses, you could earn between Rs 1.5 lakh to Rs 1.75 lakh monthly.
Increasing the station’s capacity can boost your earnings, with potential monthly income reaching up to Rs 10 lakh.
Investing in an EV charging station not only supports the growing demand for eco-friendly vehicles but also offers significant profit potential.
