ChargeZone to invest USD 360 million over four years for EV charging network

Charge Zone has announced that it will invest USD 360 million in four years for its EV charging network, as it looks to widen its reach of supercharging infrastructure to cater to electric buses, trucks, and personal mobility vehicles nationwide. 

This fiscal year, the company plans to establish 25 new supercharging stations, with the target of 500 such stations of capacity ranging from 360KW to 1.2MW, the company noted without giving a timeline. 

"Our new supercharging network marks a significant step towards a sustainable and electrified future integrated with micro-grids comprising of Solar PV and energy storage," affirmed Mr. Kartikey Hariyani, Founder and CEO of ChargeZone. 

Kartikey Hariyani stated, "Our six-month pilot roll out of the supercharging network yielded remarkable results with the strong utilisation by inter-city electric cars and electric buses as the prime customers.  We received excellent customer feedback, with power utilisation exceeding previous levels and significant traffic volumes recorded. During the first pilot of commercial rollout, we covered nearly 1500 kilometers, showcasing the network's efficiency. 

The average charging time at the new supercharging stations is between 15 to 20 minutes, significantly shorter than the 45 minutes  required at fast DC charging stations, which enhances user convenience and process efficiency."