ElectiVa, an electric vehicle (EV) charging company, has won the contract to develop and operate 100 EV charging stations in Delhi.
The contract given by Delhi’s local urban bodies covers crucial localities such as South Ex, RK Puram, Lajpat Nagar, Dhaula Kuan, and Vasant Vihar, as well as other major commercial areas on the ring road that runs through South Delhi.
ElectriVa is now one of India’s major independent EV charging station operators. Sumit Dhanuka, a New Delhi-based entrepreneur with experience in renewable energy, founded the firm early this year.
Dhanuka said that the business is also interested in contracts from other government agencies and utilities.
According to him, there are three key areas for an EV charging firm to focus on in order to expand, the first being the contracts awarded by municipal corporations for intra-city set-ups. The other is to build infrastructure along major roadways, along with decentralized charging stations in housing societies and RWAs.
“We’re accessing all three categories and expect nearly tenfold growth by the end of this fiscal year,” Dhanuka added.
The founder, when asked about ElectriVa’s business plan, stated that the firm will focus on the key income part, which is the fee for charging. However, given the availability of critical sites, it would also investigate other non-core revenue streams.
The EV startup hasn’t raised any funds yet. The firm is expected to be self-sufficient at its current magnitude, Dhanuka said, however, in the long run, the firm may consider raising capital.
ElectriVa has already completed the installation of ten stations along the ring road.
The startup is swift in its actions of installing a robust charging network amidst the estimation that by 2030, India is expected to experience a significant EV surge. According to industry projections, around 50,000 charging points will be installed across the country during the next four to five years.
