2019-02-18
EV Charging Stations In India: EVI Technologies To Install 20,000 Electric Vehicle Charging Location

Electric vehicle (EV) charging stations in India will soon grow in number by a good margin. EVI Technologies aims to set up 20,000 charging stations at key locations across the country, within the next one-and-a-half years. The company will invest Rs 100 crore in the project in a bid to promote electric mobility.

EVI Technologies, incubated at the Electropreneur Park (funded by the Ministry of Electronics and Information Technology), has tied up with BSES Rajdhani Power Ltd to install 3000 EV charging stations in Delhi alone. The charging stations will require an investment of Rs 15,000-20,000 per head and BSES will charge a tariff of Rs 5 per unit of electric power.

Rupesh Kumar, CEO of EVI Technologies shared, "We have a target to create a network of around 20,000 EV chargers in the next one and a half years. This will include home and public charging stations. It will be around Rs 100 crore. We are tying up with some finance partners, who are already providing finance for the leasing model. We are already in discussion with some of them."

"Initially, we had seed funding for the government order. We are now in talks with some angel investors for funding. Looking to raise around Rs 5 crore. These will be set up in locations where heavy e-rickshaw charging takes place. Our stations can even charge electric four-wheelers," he further added.

The company currently operates in 16 locations across 10 Indian states. Started in June 2017, EVI Technologies are pioneers in the field of electric-vehicle supporting infrastructure and leases charging stations to private users. In December 2017, the company got orders for 50 charging stations from EESL.

To start off, 3000 charging stations with an investment of Rs 15,000-20,000 per head, is in the plans. Recent analysis proved that the demand for electric vehicles has increased a lot, especially in urban markets. Major EV brands such as Mahindra Electric and Ather Energy have been witnessing better response from the market, thanks to the improved popularity of electric vehicles in India.

Source- Drive Spark