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Home News India EV News

ChargeZone Commits $360M for EV Charging Network Expansion Over 4 Years

AutoEV Times by AutoEV Times
July 10, 2024
in India EV News, News
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ChargeZone Commits $360M
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Although no timeframe has been given, the corporation has stated that it intends to build 500 stations with capacities ranging from 360KW to 1.2MW, of which 25 will be added within this fiscal year.

In order to improve the supercharging infrastructure that supports electric buses, lorries, and personal mobility cars across the country, Charge Zone has pledged to invest USD 360 million over the course of the next four years in expanding its network of electric vehicle charging stations.

Charge Zone has set a goal to eventually build 500 stations with varied capacities ranging from 360KW to 1.2MW, though the firm has not specified a timescale for this expansion. In the current fiscal year, the company expects to install 25 new supercharging stations.

ChargeZone’s CEO and founder, Mr. Kartikey Hariyani, emphasized the new supercharging network’s strategic importance, calling it a critical step toward a sustainable, electrified future that combines energy storage and solar PV with micro-grids.

He also spoke about the network’s early success, emphasizing that the six-month trial rollout had great outcomes, namely for intercity electric buses and autos. Mr. Hariyani said that strong traffic volumes and usage levels that exceeded early expectations were noted, along with very excellent customer feedback. He continued by saying that the network effectively covered close to 1500 kilometers during its first commercial trial, demonstrating its dependability and effectiveness.

Additionally, he pointed out that these new supercharging stations normally take 15 to 20 minutes to fully charge, which is significantly less time than the 45 minutes that fast DC charging stations typically require. This improves both user convenience and operational efficiency.

Tags: ChargeZoneelectric vehicle charging stationselectric vehiclesEV ChargingEV newsev times
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