CHARGE ZONE, a prominent electric vehicle (EV) charging network in India, has announced a significant milestone with a $19 million commitment from British International Investment (BII), a UK-based development finance institution. This investment marks a crucial step in CHARGE ZONE’s mission to revolutionize electric vehicle infrastructure across India.
With the infusion of this capital, CHARGE ZONE plans to rapidly expand its high-speed charging network for electric cars, buses, and trucks in key cities and highways across the country. The company aims to deploy over 1500 super-charging stations within the next 18 months and achieve a portfolio of more than 10,000 charging stations by 2027, aligning with its long-term goal of establishing a network of one million charging points by 2030. The total funding raised by CHARGE ZONE now stands at $54 million.
The expansion strategy will prioritize key markets such as Delhi, Ahmedabad, Mumbai, Pune, Hyderabad, Bangalore, and Chennai, where the demand for EV charging infrastructure is rapidly increasing. By focusing on open-access hubs for fleet charging, CHARGE ZONE aims to facilitate the seamless transition to electric mobility for commercial fleets operating in urban centers.
Mr. Kartikey Hariyani, Founder and CEO of CHARGE ZONE, emphasized the significance of the partnership with BII, stating that it not only strengthens their capacity for network expansion but also aligns with their vision for a sustainable future. The investment will enable CHARGE ZONE to accelerate the deployment of state-of-the-art charging stations, ensuring unparalleled convenience and reliability for EV drivers across the nation.
Srini Nagarajan, Managing Director and Head of Asia at BII, highlighted the institution’s focus on climate finance and its role in accelerating India’s clean energy transition. The investment in CHARGE ZONE’s expansion aims to address the challenge of underdeveloped EV charging infrastructure, facilitating a more sustainable transportation system and making EVs a viable option for many across the country.
The investment from BII not only propels CHARGE ZONE’s growth trajectory but also solidifies its position as a leader in India’s evolving EV landscape. By providing reliable, accessible, and sustainable charging infrastructure, CHARGE ZONE is driving positive change and laying the groundwork for a cleaner, greener future.
