Charging network operators, energy companies for common transaction platform for EV users
Notable because
The Indian electric vehicle (EV) sector is growing tremendously, with over 1.6 million units registered in FY24. A charging infrastructure that supports interoperability and roaming can be a key enabler in supporting such a pace of growth. A peer-to-peer, user-friendly, unified transaction platform will make transactions between consumers and operators convenient, faster, and secure. Additionally, it will promote financial inclusion and EV uptake in rural areas, resulting in a seamless experience for EV users.
What to look out for in the months ahead
Once deployed, will the Reserve Bank of India (RBI) regulate this platform, similar to the case of the Unified Payments Interface (UPI)?
Could there be additional use cases for such a network – for instance, peer-to-merchant transactions – especially if operators procure electricity from independent developers?