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India Investment

Relux Electric Gets INR 250 Crore in Project Funding

Relux Electric has received INR 250 crore in project funding from a consortium of private real estate and infrastructure investors.

At present, the company operates more than 100 charging stations, primarily situated along major highways and key urban areas, catering exclusively to private vehicles. The company aims to introduce a new service vertical targeting fleet operators and commercial vehicles by providing dedicated AC charging stations.

Dr. Karthikeyan Santharam, Managing Director and CEO of Relux Electric, outlined the expansion plans, mentioning the acquisition of land parcels along prominent highways such as NH 44, NH 45, and NH 556. Each new charging station will cover an area ranging from one to 1.5 acres and will have a capacity of at least 1 MW, enabling simultaneous charging for various vehicles, from small cars to buses and trucks. Moreover, these stations will offer amenities like eateries and shopping centers, ensuring rapid charging times—10 minutes for three-wheelers and 18 minutes for four-wheelers.

The company’s expansion strategy is based on a revenue-sharing model for project funding. Despite the expansion and ongoing discussions with potential investors for additional funding options, it maintains complete control with 100 percent equity ownership.

Emphasizing the operational strategy, Santharam stated, “Our focus on maximizing utilization rather than solely expanding our network has enabled us to achieve operational profits from day one. Our in-house R&D and operations teams, coupled with our use of self-designed original equipment for charging stations, ensure minimal downtime and double the industry average asset utilization.”