Before discussing the main topic, let me share a few facts and stats on the EV Market so you can stay updated with what’s trending. According to the latest trade reports on the EV Charging as a Service Market published by MarketDecipher.com, this trade is forecasted to be worth 28.2 Billion USD between 2022-2032, at a growing CAGR of 21.4%. Also, to encourage the growth of this service, the Indian government has offered state-wise attractive subsidies to anyone interested in setting up an EV charging station. What’s more, the government of West Bengal has recently announced that it will set up around a thousand EV charging stations across the state by 2024.
Lastly, according to the recent forecast report, India will require an investment of Rs 296 crores to install electric vehicle charging stations within the next five years and an investment of Rs 1.05 lakh crores by 2032 with an annual growth of 39% CAGR. The country requires at least 2.30 lakhs of electric vehicle charging stations. Now coming back to our topic, let’s first understand EV charging as a service in detail.
EV Charging as a Service ( a.k.a EV CaaS) explained:
EV CaaS is a service that helps you install and operate an EV charging station at a minimal investment cost of a monthly or annual fee to the service provider. The EV Charging as a Service provider will guide and assist you throughout the whole process, starting from installing the charging station, operating and managing its software, customers, tracking payments or billing, etc.
What role does EV Charging as a Service (EV CaaS) play?
It’s an interesting role that EV Charging As A Service plays; let me simplify the understanding with an example; let’s assume that you own a fleet management company and wish to switch your ICE vehicles to EVs and install an electric vehicle charging station. Now to do this, you realise that fleet management of EVs is way different and more advanced than that of the regular vehicle fleet. What would be the first things that would come to your mind? Calculate the costs, time and workforce required to run and operate the service, right?! Other than this, you also need to gather ample information on what and how this service runs because it is a trending business opportunity. During this time, an EV Charging as a Service provider comes in.
The service provider would assist you with knowledge transferring, picking out locations and properties to set up EV Charging stations until the business starts before handing it over to you. YoCharge EV CaaS is one of the rapidly growing EV CaaS providers in India that charge a one-time cost and subscription fee and guides you to streamline the business process.
How does an EV Charging as a Service (EV CaaS) work?
An EV Charging as a Service looks after the entire process on your behalf to save you time and effort. An expert from YoCharge would get in touch with you. YoCharge will walk you through the whole process. A professional will assist you in locating apt properties to set up the EV charging station. Suggestions would be made on what type of chargers you need, develop a blueprint plan, install the EVSE (Electric Vehicle Supply Equipment) and EV CMS (Charging Management System), and manage the workforce until the contract lasts. This means you get to avoid all the stress and hassle of going through the whole process by paying a one-time fee and subscription.
What duties does an EV CaaS provider perform?
Further to our discussion, I just wanted to give you a fairer idea of what roles an EV CaaS takes care of
EVSE Installation and Project Management
The service providers hire a workforce to install EVSE and charging management software, calculate the costs according to the budget and subscription chose, operate and control other operations and deliver the finished product.
Operate the EV Charging Software
Depending upon your chosen service, YoCharge would either develop and customise the entire EV CMS for you or install its existing software. Our EV CaaS provider operates software as a whole on your behalf. The charging management software not only tracks and manages your fleet and power consumption but also runs other operations, such as
- Monitor EV charging operations
- Handle EV charging billing
- Distribution of energy management for EV charging
- EV driver management
- EV fleet management
- Integration with other Charging Software & Platforms
Handles Customer Management
Our service provider would manage your customers by supporting them, from answering their queries to assisting them in charging their EVs and solving any billing issues.
Provide support 24/7 and Security
Our EV CaaS users are provided 24/7 support from our providers. They solve any issue related to software, network signals, answer FAQs, etc.
What is the difference between EV CaaS Provider and User?
The EV CaaS provider owns the charging stations for which he provides the services to the user. Whereas EV CaaS user hosts the charging network for which he is availing the benefits from the provider. When the contract ends, the EV CaaS host or user, if they wish, can extend the duration of the contract and upgrade the charging stations, or they can replace the EV CaaS provider with a different one. The host can buy the EV charging stations & electric vehicle CMS platform, or the service contract can be extended. If either of the parties (service provider or the host) wishes to terminate the services before the contract ends, they can do so according to the terms and penalties agreed upon.
How can you best use YoCharge’s EV Charging as a Service?
There are several ways you can benefit from using YoCharge’s electric vehicle charging as a service through business and good networking. This service is budget-friendly and proposes an approach with lower risk factors which is why many countries claim that EV CaaS will help promote the global sale of EVs. The following are some of the business-related benefits you can reap using EV Charging as s service:
As an EV CaaS user, you will only pay a one-time cost and subscription fee to us. There won’t be any other costs associated with this.
We have calculated all the investments and rates so that you will have to pay only the monthly or annual fee without any hidden charges.
Our staffing, time and efforts
By availing our EV CaaS, you can sit back and relax as our team of experts will take care of all the nitty gritty involved, from finding an apt location, processing the documentation, installing the EVSE until the final delivery of running the operations within the agreed duration agreed upon. You will not be required to hire extra employees, nor will you have to wait beyond the agreed period of the project.
Minimal operations and maintenance
The panel of YoCharge’s professionals would take charge of all the EV Charging operations and maintenance. Therefore, you need not worry about the hassles of software, billings or customer handling.
Regular updates and upgrades
The software geniuses of YoCharge will be administering timely updates to the EV charging management software. If you want us to customise certain features for the CMS, we can get that done for you as well depending upon our agreement. In cases of contract renewal, you can also purchase additional or improved features from us.
Build a chain of Happy and Loyal Customers
Our trained service providers ensure that the services availed by your customers are seamless at all times. At YoCharge, customer satisfaction is considered significant when building our network of supportive and loyal customers.
Generate revenues, in the long run,
YoCharge’s EV CaaS can help generate long-term revenues and pay for the monthly or annual subscription fee, depending upon the set of services you have chosen.
Promoting sustainability and building a socially responsible brand image
According to a recent study, about 88% of customers are loyal to a brand that promotes more sustainable and environmentally friendly products and services. Therefore, Using EV Charging as a Service would help boost the EV charging industry in the coming years, leading to decreasing GHG Emissions in the long run. Moreover, it establishes a brand image for being socially responsible, which works well for the business.
Get noticed on the E-mobility Map
Establishing YoCharge’s charging points at your property will put you in online EV Charging databases. It would help generate EV drivers by reflecting your charging station on their maps.
Who is eligible to use EV CaaS?
Anybody and everybody can use EV CaaS, provided they possess the budget and property to establish EV charging stations in India. It is easy to install charging points as they do not require permits. However, they must follow the guidelines and practices the Central and State governments set to sustain the business.
For starters, Businesses from the fleet and logistics industry must invest in the EV CaaS as it would make it easier for them to track their vehicles and the energy requirement and manage power supply effectively. Furthermore, business owners with commercial properties like hotels, restaurants, libraries, malls, supermarkets, hostels, highway diners, workplaces, etc., should invest in the EV CaaS industry since everybody has begun to switch to EVs. It will help generate significant revenues as these places gather lots of people.
What services do we provide at YoCharge?
Our EV CaaS speciality consists of Fully Managed Fast Charging based on Pay-Per-Usage Basis. We set up EV charging stations which consist of 30+ kW DC chargers. YoCharge’s Fast Charging Stations can be availed by
- Public Charging Stations
- EV Fleet Operators
- Hotels & Resorts
- Malls & Supermarkets
Other than EV CaaS, we also offer additional services, such as
- Providing EV Chargers
- CMS as a Service