Silicon Valley of India Charges Up: A Close Look at Bangalore's EV Revolution

Silicon valley Located in the southern part of the San Francisco Bay Area, which is home to dozens of major technology, software, and internet companies.But in India we have our own silicon valley which has grown into India’s primary epicenter for technology, startups and innovation.It is none other than Bangalore.Bangalore boasts a thriving ecosystem of innovative IT companies.The city provides an ideal environment for startups to incubate, test and commercialize their products and services.It also serves as the location for numerous global innovation centers.Bangalore is also at the forefront in India’s EV revolution.This article will focus on city’s EV roadmap.

Bangalore boasts the higher number of EV registration in Karnataka

Bengaluru Urban district has the most public charging stations with 4,281, which constitutes 85% of the charging infrastructure in the State.According to Bangalore Electricity Supply Company Limited (Bescom), the designated agency for establishing EV charging stations in Bangalore, there has been a notable increase in the adoption of EVs.The State government, last year, in a bid to create a robust electric vehicle ecosystem in Karnataka, unveiled a revised draft EV policy (2023-28), which aims to attract ₹50,000 crore in investment while creating job opportunities for one lakh people.In Karnataka, the registered number of EVs has increased from 9,703 in 2020 to 33,306 in 2021, 95,892 in 2022, and 1.52 lakh in 2023.

City which is responsible for flourishing startup ecosystem

Bangalore is a hub for EV startups, established manufacturers, and service providers.It is a dynamic mix of entrepreneurs, investors, mentors, and incubators. This city provides co-working spaces, accelerators, and networking events that foster innovation and collaboration between startups.Companies like Ola Electric and Ather Energy are setting up production facilities in and around Bangalore.Karnataka is already home to prominent electric vehicle manufacturers such as Ola Electric, Ather, Altigreen, and Bounce.

Karnataka’s new EV policy 2023-28 with buyers centric subsidies

The Karnataka government revealed a revised draft electric vehicle policy (2023-28) on November 11 to attract ₹50,000 crore in investment and create one lakh jobs.This new policy is still under development, with a revised draft being unveiled in 2023.There is lot of expectation like Implementation of direct subsidies for EV buyers, which means making EVs more affordable, especially for commercial vehicles like taxis and autos.Addressing financial hurdles, the proposed GST reduction to 5% for components aims to support smaller companies.Key provisions proposed in a draft as follows

15% subsidy on the value of fixed assets for EV manufacturing units over five years.

Mandated installation of charging stations at regular intervals on highways and public spaces.

Support for programs to create a skilled EV workforce.

Encouragement for research in battery technology, charging infrastructure, and other EV-related fields.

Attract ₹50,000 crore (approximately $6 billion) in investments.

Create 1 lakh (100,000) jobs in the EV sector.

Development of EV-focused cities in Kalaburagi, Belagavi, Hubballi-Dharwad, and Mysuru.

Other supportive measure to increase EV adoption

The government supports skill development programs to create a skilled workforce for the EV industry.The government provides land allotments and other support measures to EV manufacturers setting up facilities in the state.

The policy mandates setting up charging stations at regular intervals on highways and in public spaces, including government buildings and residential complexes. This aims to address range anxiety, a major concern for potential EV buyers.EVs benefit from reduced registration fees and road tax compared to internal combustion engine (ICE) vehicles.

Summing Up

Bangalore’s graph of EV revolution is going exponential.With government support ,private sector funding and technological advancements this silicon city is ready to be a global leader in the EV industry.Karnataka is home to a vibrant EV ecosystem, attracting leading startups and established manufacturers ,further propelling the state's EV growth.