By 2022, India aims to have 6 to 7 million hybrid electric vehicles (EVs) on the road, and by 2030, wants to be completely electric. Thus, our pollution graph drops to under 80% as a result of focusing on this. And this is a fantastic business opportunity for small-scale enterprises and Indian entrepreneurs to seize the chance and showcase their abilities by developing e-vehicles, electric components, lithium-ion batteries, and your EV invention. AS per reports 2022-23 will be a golden period for the global EV industry
There will be a significant increase in the number of launches and a reduction in battery prices that will provide a very significant impetus to the growth of the global EV industry.
Manufacturers have been obliged to make electric vehicles available all around the world due to factors such as rising demand for low-emission vehicles and government backing for long-distance, zero-emission automobiles. This has increased the demand for electric vehicles in the market.
E-vehicles open you to a slew of new business prospects and help to raise and build your company. Businesses such as manufacturing plants of e-vehicles, charging stations, batteries, recycling plants, e-vehicle parts shops, and many more.
Business Opportunities in EV Sector for SSI
Following is the list of the Business Opportunities in the Electric Vehicle Sector.
- Public Charging stations
- A Battery Energy Storage System (BESS)
- recycling lithium-ion batteries Plant
- A solar photo voltaic-powered electric vehicle (EV)
- Battery Management System (BMS)
- Battery Swapping Plant
- EV charging Software
Public Charging Stations
Charging in public areas is quite convenient and eliminates the snarl of e-vehicles on the road. You can make more money than you spend by opening an EV public charging station. An EV charging station will not require a license to operate. The government of India has devised a unique strategy for business. There are two ways to open the charging station
- To take a franchise of charging companies and the location is chosen by the company.
- For own charging station to take authorization.
Battery Energy Storage System (BESS)
A Battery Energy Storage System (BESS) is a device that uses specifically built batteries, such as used lithium-ion electric car batteries, to store electric charge. In today’s Battery Energy Storage Systems, lithium-ion batteries are by far the most popular. “Battery energy storage systems are rechargeable battery systems that store and deliver energy from solar panels or the electric grid to a home or company.”
Lithium-ion batteries are the most widely used battery storage technology, accounting for more than 90% of the worldwide grid battery storage industry. Lithium-ion batteries offer a higher energy density and are lighter than other battery alternatives.
Recycling lithium-ion Batteries
Lithium-ion battery recycling strategies have the potential to provide a long-term supply of such materials, allowing for the continuing deployment of electric cars (EVs). For such methods to be implemented, however, various technological, economic, logistical, and regulatory obstacles must be addressed. To reduce the quantity of mining necessary for battery materials, it’s vital to understand the potential and constraints to recycling.
A Solar Photo Voltaic-Powered Electric Vehicle (EV)
The Indian Institute of Science (IISc) in Bangalore’s IT hub has constructed a solar-powered electric vehicle (EV) charging station. The solar-powered zero-emission EV charging station
An EV supply equipment (EVSE), an array of solar panels, an inverter to convert solar power from DC to AC, an energy storage system (for off-grid charging), charge controllers, and a secure network for the wireless transmission of data to help users make real-time decisions are all part of a solar charging station.
Battery Swapping Plant
For charging e-vehicles, a battery swapping plant is a fantastic business opportunity. When an e-vehicle loses power and has to be charged right away, battery swapping technology allows the battery to be swapped in a matter of minutes.
“Battery switching” is the process of replacing a worn-out lithium-ion battery with a new one, however, it necessitates storage and plant for a seamless transaction.
Because just one size of the charging box is integrated into the switching machine, the battery size is the same for all e-vehicles. Collaborating with small businesses to get better and faster outcomes can provide greater results, and this might be a great business opportunity for you.