Charge+Zone installs 1600 EV charging stations over 15,000 km of highways

Vadodara-based electric vehicle charging company, Charge+Zone has announced the installation of over 1,600 EV charging stations across 450 locations in the country. The charging stations cover more than 15,000 km of highway. With the new milestone achieved, Charge+Zone now plans to aggressively accelerate expansion plans and is looking to raise $125 million in equity as part of its Series A2 round of funding.

Charge+Zone says the fresh investment will be deployed to expand its retail network in the state and national highway charging infrastructure, and product R&D and make “a strategic investment in e-mobility companies." The company says that highway and urban charging have emerged as the fastest-growing and most profitable business verticals over the last three quarters. It now plans to install fast chargers across key highways across India for seamless and accessible charging for EV owners.

Commenting on the development, Kartikey Hariyani, Founder & CEO - Charge+Zone said, “The completion of the first phase of our highway charging network is a testament to our vision of accelerating India’s transition to green mobility. Since our inception, our goal has been to build a robust EV charging infrastructure all across the country and we have been fortunate to have a team of investors and industry stakeholders to back us in this journey. With the next phase of expansion underway, our aim is to raise a fresh round of investments that will enable us to achieve our target network size of 5,000 fast chargers on the State and National highways by 2025."

Charge+Zone aims to have over one million EV charging stations by 2030, most of which powered by renewable energy

“Our high-speed supercharging network will significantly reduce charging time, enabling us to serve more than 75,000 EVs including e-buses, e-trucks, and e-cars per day, reducing carbon emissions and supporting India's carbon neutrality goal by 2070. We will also roll out another 1000 charging stations by the end of CY 2023, focusing on selected regions and expanding nationwide, " he added.

Charge+Zone has so far raised $54 million from investors through equity and debt. The company says it has contributed towards savings of over 25,000 tonne of CO2 emissions, while actively utilising renewable energy sources to power its charging stations. The start-up aims to have a “significant" number of charging stations powered by renewable energy by 2030. About 80 per cent of its charging stations are company-owned.

At present, Charge+Zone has over 3,500 charging points across more than 1,500 charging stations located in 37 cities. The company aims to reach one million charging points by 2030. The start-up has also partnered with OEMs including Audi, Hyundai, Mahindra, Ashok Leyland, Volvo-Eicher, Tata Motors, BluSmart, and more, to accelerate charging infrastructure development.