Energy & Utilities

EV Fast-Charging Infrastructure: Technology & Investment Analysis

Hardware, grid connections, utilisation economics and the investable map of India's corridor charging build-out.

268 pagesPublished 20 Jan 2026

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Overview

What this report answers

This is the reference report for anyone deploying, financing or regulating fast-charging infrastructure in India. It combines Lumera's site-level survey of 1,180 corridor locations with transformer-procurement tracking across thirteen discoms, and utilisation data shared by charge-point operators covering 61 percent of the public fast-charging network.

The report's central finding is that the build-out constraint has moved downstream into the grid connection: hardware lead times have normalised while transformer queues have tripled. The investment implications run in both directions — connection-secured sites command scarcity value, and the equipment vendors selling into discom upgrade schemes are the quiet beneficiaries.

Financial modelling covers site-level internal rates of return across six utilisation scenarios, sensitivity to tariff orders in nine states, and a capital map of where the next ₹40 billion of charging capex will actually be absorbable, as distinct from announced.

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