The Climate Pledge is a commitment to achieve net-zero carbon emissions by 2040, 10 years ahead of the Paris Agreement.
The Climate Pledge announces a new joint action project - JOULE (Joint Operation Unifying Last-mile Electrification) - with its signatories and industry partners to build a new network of shared electric vehicle (EV) charging stations in Bengaluru, the release said.
Powered by renewable energy, the charging stations will support 5,500 electric vehicles in Bengaluru by 2030, it stated.
As part of this project, the first EV charging station is fully operational in Bengaluru with plans to build five more charging stations in the capital city by the end of this year and to expand them further to meet the growing demand for local EV infrastructure, as per the release.
It said that while Amazon, Mahindra Logistics, Uber, HCLTech and Magenta Mobility will work together to optimise the usage of the EV charging stations, combining the charging needs of their EV fleets to ensure the infrastructure is well utilized, domestic EV charging platform Kazam will build the network of shared charging stations.
While the project is estimated to support about 5,500 EVs in Bengaluru by 2030 (based on expected demand), it is also expected to service about 9,500 EVs at full capacity, the release said, adding to maximize utilisation, the infrastructure will also be available for other companies to charge their fleet vehicles during the day.
The entire electricity to be used by the charging stations (projected to reach 22,700 megawatt-hours of power) will be matched with 100% renewable energy, amounting to an estimated 6.2 megawatt of renewable energy capacity by 2030.
By the same year, the project is also expected to save over 11.2 million litres of fuel and abate an estimated 25,700 tonnes of carbon-dioxide, it said.
"Together with the Pledge signatories, we are launching this joint action initiative which will support India's transition to electric vehicles, including Bengaluru's goal of having 100% EVs for three-wheelers, cab services, and corporate fleets by 2030," said Sally Fouts, Global Leader, The Climate Pledge.
"This project not only addresses some of the current challenges in India's charging infrastructure to support greater electric vehicle adoption, but also sets a new standard for corporate climate collaboration," Fouts added.
According to a new Deloitte whitepaper, for India to achieve its goal of having EV sales account for 30% of all new vehicle sales by 2030, the country will require one station for every 20 vehicles as against the current ratio of 1:135, which is significantly lower and hinders the country's transition to EVs, according to the release.
It said the project addresses key challenges towards EV adoption, such as the lack of charging stations, uncertainty in utilisation rates, range anxiety, coupled with hesitance from businesses to install charging stations due to high capital costs and the lack of awareness of benefits.
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