The rising sales of EVs are largely impacted by the lack of charging infrastructure, particularly in high-rise apartments built by real estate developers. Some companies even refuse to sell an EV if the buyer’s housing society doesn’t have proper provision of charging the vehicle. To solve this key problem, Radius has come up with a state-of-the-art device, called EVCD, which is sure to prove a win-win for both the real estate sector as also the EV industry.
The rapid popularity of electric vehicles has opened new business avenues, as also challenges, for many sectors, including the real estate. EVs are gaining popularity because of the host of advantages they offer over the internal combustion engine-based vehicles. An electric vehicle is not only economically beneficial for the consumers, but it also helps the cause of a clean environment.
Despite this, the EV sales have not picked at a pace it should have. One of the main reasons for this is the lack of EV charging infrastructure in the country besides, of course, the low awareness among the masses about the benefits of EVs. It is in the absence of, or in their attempts to set up, charging infrastructure that the real estate sector is encountering fresh problems.
- It is in the absence of, or in attempts to set up, charging infrastructure in their projects that the real estate sector is encountering fresh problems.
- If it is not possible to connect the prospective buyer’s electricity meter to the parking slot, the companies deny him/her the sale of an electric vehicle.
- It is paramount that housing societies have a system that can manage the peak load at a given time and also safeguard, not only the EVs, but also their own electricity requirements.
- Radius has come up with a product which is tailor-made for the real estate sector. Its EVCD is a patent-pending billing and safety module for group housing societies and commercial buildings.
Nowadays, if a buyer plans to purchase an EV, particularly from MG or Tata Motors, these companies depute their engineers to check if an electric wire can be stretched from the buyer’s flat/house to the assigned parking (indoor/outdoor) slot. If it is not possible to connect the prospective buyer’s electricity meter to the parking slot, the companies deny him/her the sale of an EV. This provision has turned out to be a hurdle, at least partially, in boosting the sales of EVs as a majority of the urban population in metropolitan cities lives in high-rise apartments built by various realty firms.
In the not-so-distant future, as the demand and the sale of EVs rise further, the issue of charging EVs in housing societies will also escalate. The old infrastructure of a majority of apartments is just not capable of handling charging needs of multiple cars at one time. Suppose a society has about 300 EV owners and all these vehicles are charged at the same time, the system won’t be able to withstand the load and will shut down. Therefore, it is paramount that housing societies have a system that can manage the peak load at a given time and also safeguard, not only the EVs, but also their own electric requirements.
To solve this critical problem, Radius has come up with a state-of-the-art product which is tailor-made for the real estate sector. Radius’ Electric Vehicle Charging Dock (EVCD) is a patent-pending billing and safety module for group housing societies and commercial buildings. EVCD is a hassle-free method for charging and billing an EV in a society/high-rise with a custom mobile app. Consumers have the option of controlling and managing their EVCD through the Xenius mobile app or the Energybite app, depending on their convenience.
The real estate sector can make good use of the EVCD to fulfill the new requirements of the urban population, which is increasingly veering towards electric mobility. It is bound to prove a win-win, not only for the sector, but also for the EV industry, in boosting their sales in the country.