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India

CHARGE+ZONE Deploys 1600 EV Charging Stations, Raises $125M for Expansion

EV charging company CHARGE+ZONE has announced the successful completion of its initial phase of deploying a highway EV charging network in India. The company has successfully installed over 1600 EV charging stations across more than 450 locations, covering a distance of over 15,000 kilometres along major highways in the country. Building on this achievement, CHARGE+ZONE now plans to raise $125 million in equity as part of its Series A2 funding round to further accelerate its expansion plans. 

   

During the past few quarters, CHARGE+ZONE has experienced significant growth and profitability in its Highways and Urban charging divisions. Through strategic partnerships with leading Indian and global electric car, bus, and truck manufacturers, the company has successfully deployed fast chargers along key highways, ensuring electric vehicle owners have easy access to convenient and seamless charging solutions. 

  

Kartikey Hariyani, Founder & CEO of CHARGE+ZONE, expressed his excitement about completing the first phase of the highway charging network, emphasizing the company’s commitment to driving India’s transition to green mobility. With the next phase of expansion already underway, CHARGE+ZONE aims to secure additional investments that will help achieve its target of deploying 5,000 fast chargers on state and national highways by 2025. 

  

Hariyani highlighted the significance of CHARGE+ZONE’s high-speed supercharging network, which significantly reduces charging time and enables the company to cater to a large number of EVs, including buses, trucks, and cars. This advancement plays a crucial role in reducing carbon emissions and supporting India’s goal of achieving carbon neutrality by 2070. CHARGE+ZONE plans to roll out an additional 1,000 charging stations by the end of 2023, with a focus on specific regions, before expanding nationwide.