Acquisition strengthens India's largest charge point operator while Zerovolt plans ₹250 crore expansion into commercial fleet electrification
09 Sep 2025 | 3118 Views | By Shristi Ohri
ChargeZone has acquired the Wadala charging facility in Mumbai from Zerovolt in an all-cash transaction. The deal amount was not disclosed, but the acquisition marks a significant consolidation move in India's rapidly growing electric vehicle infrastructure sector.
The acquired facility represents Zerovolt's flagship charging hub, which has specialized in ...
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ChargeZone has acquired the Wadala charging facility in Mumbai from Zerovolt in an all-cash transaction. The deal amount was not disclosed, but the acquisition marks a significant consolidation move in India's rapidly growing electric vehicle infrastructure sector.
The acquired facility represents Zerovolt's flagship charging hub, which has specialized in serving heavy commercial electric vehicles including passenger buses and large-scale commercial fleets. Zerovolt, founded three years ago by Harshdeep Singh Virk and Priyesh Joshi, has established itself as a key infrastructure provider for commercial EV operations, notably supporting Chalo Mobility, India's first electric private intra-city bus operator.
ChargeZone, backed by BlueOrchard Finance and British International Investment, operates over 13,500 charging points across more than 1,200 locations in India and the UAE. The company is expanding toward a target of 15,000 fast DC charging points nationwide.
"India's EV ecosystem is entering a decisive growth phase, and the electrification of heavy commercial vehicles will be its true tipping point," said Kartikey Hariyani, Founder and CEO of ChargeZone. "By acquiring Zerovolt's flagship hub into our network, we are not only expanding our operational footprint but also reinforcing our commitment to building the backbone of sustainable transport for the country."
Following the asset sale, Zerovolt's founders are repositioning the company toward developing what they describe as India's first integrated EV ecosystem for commercial fleets. The company plans to invest over ₹250 crores over the next two years to expand electrification services across commercial transport and logistics sectors.
"This acquisition is not just a validation of our early vision but also a stepping stone towards building a full-fledged electric mobility platform for heavy commercial vehicles," said Harshdeep Singh Virk, Co-Founder of Zerovolt. "Our mission has always been to solve electrification where it matters most—large-scale commercial fleets and operations."
Co-founder Priyesh Joshi added that the partnership provides the scale needed to advance their broader electrification vision for commercial transport.
The transaction occurs as India's electric vehicle sector experiences accelerated growth, particularly in commercial applications where fleet operators seek to reduce operational costs and emissions. The logistics and heavy-duty transport sectors are among the most fuel-intensive segments of the transportation industry, making them priority targets for electrification initiatives.
Founded in 2022, Zerovolt has focused on heavy commercial EV charging solutions, developing infrastructure for urban mobility applications including public transport, logistics hubs, and industrial operations. The company has positioned itself to serve demanding sectors such as mining and intercity transport through integrated hardware, software, and operational support services.
ChargeZone, headquartered in Vadodara, Gujarat, operates charging infrastructure for electric cars, buses, and trucks across enterprise and retail segments. The company has stated an ambitious goal of establishing one million charging points to support India's EV adoption.
The acquisition represents a strategic consolidation that allows ChargeZone to expand its network while enabling Zerovolt to focus resources on developing broader commercial fleet services. Zerovolt's planned ₹250 crore investment will target the electrification of commercial transport and logistics operations, sectors that company executives identify as critical for achieving large-scale emissions reductions.
The deal reflects broader trends in India's EV infrastructure sector, where established operators are acquiring strategic assets while specialized companies pivot toward comprehensive service platforms. As commercial vehicle electrification accelerates, infrastructure providers are positioning themselves to capture growth opportunities in fleet operations, depot charging, and integrated mobility services.
The transaction is expected to enhance charging network coverage for commercial vehicles in Mumbai, one of India's largest commercial transport hubs, while supporting the broader transition toward sustainable freight and passenger transport operations.