India's increasing EV adoption rates have created significant demand for accessible charging stations[1] . This demand provides businesses with a perfect opportunity to meet EV-owning employees’ and customers’ needs by installing commercial electric vehicle charging stations on their premises. By doing so, businesses can boost employee satisfaction, enhance their image by demonstrating their commitment to sustainability, generate a reliable stream of near-passive income, and secure increased revenue and customer loyalty by providing EV-owning visitors with convenience and peace of mind.
Enhanced Employee Satisfaction and Retention
According to Adobe’s recent survey[2] , an astounding 71% of Indian employees strongly prefer working for businesses that prioritize sustainability, and regard sustainability as a crucial component of company culture. Furthermore, as EV adoption continues to rise, current or prospective EV owners appreciate the convenience of having on-site electric vehicle infrastructure to facilitate their commutes and alleviate range anxiety[3] . As a result, installing chargers to corporate parking areas can help businesses attract and retain environmentally conscious employees.
Eco-Friendly Corporate Image
Far from being a mere buzzword, sustainability is a major consideration in today's business landscape; businesses must acknowledge that modern customers expect sustainable practices[4] . By setting up corporate park charging stations, businesses can enhance their public image and align themselves with their customers’ values. They can also give themselves the opportunity to garner recognition and awards for their environmental efforts, thereby bolstering their corporate reputation.
Extended Customer Engagement
Customer dwell time–the amount of time that customers linger in a commercial setting–is strongly correlated with increased sales. As a result, retailers, hospitality operators, and mall owners constantly seek ways to boost foot traffic and encourage customers to remain in their establishments for longer. Installing commercial charging stations constitutes an ideal strategy for increasing dwell time among EV-owning customers; customers who are waiting for their EVs to charge will remain on the business’ premises for a significant amount of time, and will therefore be more likely to make a purchase.
Installing charging stations also puts the business on the EV charging network map–both literally and figuratively! The ensuing heightened brand exposure drives preference and fosters loyalty among EV owners, offering unparalleled marketing opportunities.
Revenue Generation
Installing commercial EV charging stations can increase business revenue in several different ways.
- Direct payment. By establishing pay-as-you-go or subscription models, businesses can collect revenue directly from EV owners who are using on-site charging facilities.
- Advertising. Businesses can offer their charging stations as a platform for digital out-of-home advertising, and then collect revenue from the advertisers rather than from customers.
- Charging provider partnerships [6] . Businesses and EV charging providers can establish partnerships whereby the charging provider owns and operates equipment on the business’ premises, and shares profits with the business owner.
Government Incentives and Tax Benefits
Business owners can maximize their EV charging station revenue by using governmental incentives to offset purchase and installation costs. Phase II of the FAME India scheme[7] has reduced GST on chargers and charging stations from 18% to 5%. Furthermore, several cities and states have implemented a wide variety of additional incentives[8] . For example, in keeping with India’s commitment to sustainability, many states offer subsidies, tax exemptions, or grants to encourage and facilitate the establishment of corporate EV charging infrastructure.
Join the EV Revolution!
Overall, installing commercial electric vehicle charging stations unlocks a variety of benefits, both direct and indirect, for business owners. Not only does it provide valuable opportunities to increase revenue, bolster employee satisfaction, and secure customer loyalty, it also enables businesses to publicly position themselves at the forefront of the ever-growing movement towards sustainability. In light of current government incentives and societal priorities, today is the perfect time for business owners to simultaneously take their profits to the next level and do their part to create a greener future!
