Magenta Power, the specialist in renewable power generation, battery storage system, and EV charging infrastructure has announced its plan of setting up 10,000 electric two-wheeler charging stations across the Mumbai-Pune region and other key urban centers in Maharashtra.
The Hindustan Petroleum, Shell, and Microsoft-backed company will set up 500 of the proposed 10,000 e-2W charging stations shortly across the Mumbai metropolitan region and all the stations will be set up in association with e-2W rental startup eMatrixmile confirmed Maxson Lewis, co-founder and managing director of Magenta Power.
"Our agreement with eMatrixmile is to provide ‘socket-to-software’ solutions for EV charging stations, which will come up both in AC and DC models,” Lewis said. “We plan to install 10,000 such charging stations for eMatrixmile, but they can be used by others as well.”
Currently, Magenta runs 64 charging states for four-wheelers across Mumbai, Navi Mumbai, Pune, Hyderabad, Chandigarh with a presence in Kochi and Nashik. In addition, the company has set up around 80 charging stations under a government scheme.
Lewis confirmed all the charging stations set up by Magenta have resumed services since September 15.
The company charges Rs 20 per unit from cars and a car needs 12-24 units to get fully charged. At this rate, a DC charging station that needs Rs 5-25 lakh of investment, can break even if there are seven charging every day for three years, Lewis added.
Set up in 2017, Magenta was among the first players in the EV charging space and set up its first charging station on the Pune-Bangalore highway in 2018. The company was seed-funded by state-owned Hindustan Petroleum in 2018 and incubated by Shell in 2019 and Microsoft Global Startup Fund came on board earlier in 2020.
