CHARGE ZONE Secures $19 Million Investment to Accelerate Expansion of EV Charging Network in India
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.
Revamp Moto Partners with NACOF Oorja to Revolutionize Rural Mobility with Sustainable Electric Vehicles
In a significant step towards transforming rural and agricultural mobility in India, Revamp Moto, a leading modular electric two-wheeler manufacturer, has signed a Memorandum of Understanding (MoU) with NACOF Oorja, a prominent Renewable Energy developer and operator. The collaboration aims to introduce innovative, sustainable, and cost-effective electric vehicle solutions to rural and agricultural sectors, leveraging NACOF’s extensive farmer network. The MoU signing ceremony, held at a gala launch event, saw the presence of distinguished guests including Mr. Ram Iqbal Singh, Founder Chairman of NACOF, and Mr. P. Sureshbabu, Managing Director of NACOF Oorja Pvt. Ltd., alongside the three Co-Founders of Revamp Moto: Mr. Pritesh Mahajan, Mr. Jayesh Tope, and Mr. Pushkaraj Salunke.
Milestone Achieved: MG Surpasses 500 EV Charger Installations Across India
MG (Morris Garages), a renowned British automotive brand boasting a century-old heritage, has announced the successful deployment of 500 chargers within 500 days as part of its MG Charge initiative in India. This initiative aims to establish a sustainable and easily accessible electric vehicle (EV) charging infrastructure nationwide. Launched in mid-2022, the MG Charge initiative is dedicated to installing 1,000 charging points within 1,000 days, targeting apartments, condominiums, and residential societies to facilitate convenient charging for residents and visitors. Gaurav Gupta, Chief Growth Officer at MG Motor India, expressed the company’s commitment to not only providing advanced electric vehicles but also creating a robust EV ecosystem. The milestone of installing 500 chargers in as many days highlights MG Charge’s vision of enhancing the overall EV ownership experience for a sustainable future.
Hyundai Plans To Introduce 5 New Electric Vehicles By 2030, Advancing Its Previous Schedule By 2 Years
Hyundai Motor India has announced plans to unveil five new electric vehicles (EVs) by 2030, accelerating its previously scheduled timeline by two years. The company’s Chennai plant is set to produce its inaugural electric sports utility vehicle by the end of 2024, ahead of the original schedule of introducing five EVs by 2032. In collaboration with Exide Energy Solutions, Hyundai India and Kia have inked an agreement to explore local battery production for EVs. By 2030, Hyundai India aims to expand its network of EV charging stations to 485, utilizing its sales hubs for strategic placement. These initiatives were revealed during Hyundai Motor Group Executive Chair Euisun Chung’s visit to India, where he addressed the first overseas town hall meeting with Hyundai Motor India employees.
BMW Unveils First-Ever i5 M60 xDrive In India: A Fusion Of Performance And Sustainability
In a groundbreaking move, BMW unveiled the first-ever BMW i5 M60 xDrive in India. As the newest addition to the BMW M Performance lineup, this all-electric sedan sets a new standard for elegance, innovation, and dynamic performance. Available exclusively as a Completely Built-Up Unit (CBU) model, the BMW i5 M60 xDrive showcases a fusion of cutting-edge technology and sporty design features. The BMW i5 M60 xDrive is priced at INR 1,19,50,000 (ex-showroom) and offers a range of customizable options. Available paintworks include Alpine White, M Brooklyn Grey, M Carbon Black, and various metallic and BMW Individual options. Interior trims feature Carbon Fibre as standard, with additional upholstery options such as Alcantara/Vegansza | Black.
CESL Invites Bids For Electric Car Fleet Management Tender In India
Convergence Energy Services Limited (CESL), a government of India enterprise, has issued a tender inviting bids for the management of its electric car fleet. This initiative is a significant step towards promoting electric mobility in India.
Here are some key details of the tender:
Bid Submission Closing Date: May 14, 2024, at 2:30 PM IST
Application Fee: ₹25,000
EMD Value: ₹55,00,000
BluSmart’s Remarkable Growth: Crossing Rs 500 Crore Annual Run Rate Milestone
Homegrown electric vehicle (EV) company BluSmart announced on Tuesday that it has surpassed Rs 500 crore in annual run rate (ARR) for the fiscal year 2024, marking a 102 percent growth compared to the previous fiscal year. The company highlighted that its gross business value (GBV) has experienced a compound annual growth rate (CAGR) of 300 percent over the last three years. BluSmart boasted having the largest fleet of over 7,300 EVs in South Asia, having covered 460 million “clean kilometers,” thereby saving 34 million kilograms of CO2 emissions. Additionally, the BluSmart charging network has expanded significantly, extending across key locations in Delhi-NCR and Bengaluru.
Unlocking Electric Mobility: Piaggio’s New Battery Subscription Model For Three-Wheelers
Piaggio Vehicles Pvt Ltd (PVPL), a division of the Piaggio Group and a leading Indian producer of compact commercial vehicles, as well as trailblazers in electric three-wheelers (3EV), has launched a “Battery Subscription Model” for its Ape Elektrik electric three-wheelers. This subscription model offers more than just affordability; it addresses a significant concern – battery anxiety. Customers can now experience the advantages of electric mobility without fretting about battery maintenance, longevity, or replacement expenses. Piaggio has assumed full responsibility for battery health, providing reassurance for prolonged ownership of electric vehicles (EVs), as stated in a press release.
