What Are The Business Opportunities That Come Hand In Hand With EV's?

Electric Vehicles Are Going To Be The Norm In The Coming Years

With climate change knocking on our doors, the world is waking up to the need of shifting to vehicles that come with environmental benefits. Electric vehicles are, therefore, the answer. They not only use fewer resources, which lessens our dependency on the planet but also keep the air clean. It is why EVs are expected to dominate the road in the coming years.

With electric cars becoming the norm, it opens up a plethora of business opportunities for you to cash in, especially in automotive hubs like Chennai. One example is the electric vehicle charging solutions in Chennai. There is a world of opportunities that come hand in hand with EVs. Let’s take a look at some of them.

EV charging solutions in Chennai:

The biggest and most apparent business that one can invest in with EVs is charging stations. Because the battery of an electric car takes a lot of time to charge, it opens up free time for the car owner, which you can leverage upon. Even at the fastest with superchargers in the mix, an EV will take 50 minutes to reach full charge.

It is these 50 minutes you can utilize by offering customers a lounge, café or shop where they have a snack and buy something while they wait for the car to charge. The beauty of setting up an EV charging solution is that not only do you earn from the battery recharge but also from the extra spending customers do to kill time!

Battery Scrapping & Final Mile Connectivity Businesses

Battery Re-utilisation:

Right now, the battery of a two-wheeler is expected to have 1000 charge cycles. This is an estimate for a well-cared lithium-ion battery. It means within two to five years, the owner of the bike or scooter will have to replace the battery.

Given that by 2030, EVs are evaluated to penetrate the global market in tens of millions. In India, there is going to a particular surge in two-wheeler EVs. What does that mean? There is going to be mountains of discarded batteries and here lies the business opportunity.

Most EV batteries, though not fit for vehicular use, are still not completely dead. They can be used in a power bank, which is like a farm where disused batteries are kept to store and house energy for other purposes. These power banks are utilized for applications like propping up the grid of wind or solar farms. Reusing the battery is not the end of the opportunity. EV batteries can also be scrapped to recycle metals such as aluminium, copper, and steel.

Final Mile Link:

There is no doubt electric vehicles come with a host of advantages, but there is one drawback to them. They are not meant for long trips, especially right now when EV charging solutions are too few and far between. The battery of an electric car doesn’t last for extended hours.

The easy solution is to take public transport to your destination city, state or country and for the last mile, you can hire an electric bike or car. Therefore, the business opportunity here is the final mile link. The trick to making a success of this business is to geo-fence the vehicles so that they are not taken beyond a specific range and misused.

Also Read: Evolution In EV Charging Infrastructure

Battery Swaps Instead Of Charging

The last business opportunity we discuss in this article that electric vehicles represent is battery swap hubs. While electric vehicle charging solutions are great, there are moments when you don’t have the time to wait for a battery to recharge. A quicker and more efficient method is to stop by a battery charging station, remove your discharged battery and replace it with a fully charged one.

Essentially, you are swapping batteries. There is a massive potential for battery replacement hubs in India because two-wheelers are more popular here. And it is bikes and scooters that come with batteries that can be replaced in a nifty second. All you will need is a station with a permanent stock of fully-charged batteries that you can rent for a given price. A few hurdles you’ll have to cross in this business, like with any other, is to keep battery design in mind. Battery manufacturers don’t use a standardized method, so each two-wheeler will need their specific brand of battery. As long as you keep a stock of all kinds of batteries, you can overcome this challenge.