The government has sharply reduced benchmark prices for electric vehicle chargers to curb subsidy outgo and accelerate the rollout of public charging infrastructure across the country.
The Centre has significantly reduced benchmark prices for electric vehicle (EV) chargers, a move expected to lower subsidy outgo and speed up the expansion of public charging infrastructure across India.
The Ministry of Heavy Industries has revised downward the benchmark costs for EV chargers of various capacities, citing a sharp fall in equipment prices and rising competition among manufacturers. As per the revised benchmarks, the cost of a 60 kW charger has been reduced by 28%, while a 30 kW charger is now 17% cheaper. Benchmark prices for 120 kW chargers have also been cut by 13%, according to officials.
Industry operators said the steep reduction in benchmark costs could result in lower subsidy claims under government schemes such as the PM E-Drive programme, which supports the deployment of EV charging infrastructure nationwide.
Benchmark prices are used by the government to determine subsidy disbursements. In certain cases, the subsidies can fully cover the cost of EV chargers with capacities of 50 kW and 100 kW, the report noted.
The revision reflects the increasing maturity of India’s EV charging market, marked by declining input costs and intensified competition from domestic and global manufacturers.
Officials noted that the earlier benchmarks, fixed in 2022, reflected a period when charger prices were significantly higher than current market levels.
