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India needs IN-SPACe-like platform for EV charging infra, say experts

Economic Times

Economic Times · 5m ago

India needs IN-SPACe-like platform for EV charging infra, say experts

Experts emphasize the need for robust EV charging infrastructure as India's mobility market shifts towards electrification. Current challenges include inadequate chargers, land acquisition delays, and regulatory approvals. India requires 3.9 million charging stations by 2030, with a current ratio of one charger per 135 EVs, far below global averages. Suggestions include adopting single-window clearance systems, standardizing charging ports, and increasing investments in startups. Government initiatives aim to expand charging stations across highways and underserved cities.

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EV infra startup Bolt.Earth raises $20 Mn

Entrackr

Entrackr · 1y ago

EV infra startup Bolt.Earth raises $20 Mn

EV infrastructure and software company Bolt.Earth has raised $20 million in funding from investors including Union Square Ventures and Prime Venture Partners. The funding will be used for expanding the company's charging network, enhancing its products, developing its operating system, and expanding internationally. Bolt.Earth offers charging solutions for a wide range of needs and claims to have deployed over 30,000 EV charging points. The company plans to expand its business in Asia, Europe, South America, and Latin America. In the first nine months of 2023, the EV startup sector saw nearly 40 deals worth $631 million in funding.

EV players discuss development of battery charging, swapping infra with Piyush Goyal

Economic Times

Economic Times · 6m ago

EV players discuss development of battery charging, swapping infra with Piyush Goyal

Electric vehicle (EV) stakeholders discussed battery charging and swapping infrastructure with Commerce Minister Piyush Goyal and officials from the Department of Heavy Industries and DPIIT. Representatives from Tata, TVS, and Mercedes-Benz India raised concerns about the location and standards of swapping stations. The government aims to promote EV manufacturing through policy incentives and public charging stations. India's EV market is projected to achieve significant growth, with new jobs and public charging facilities planned under schemes like FAME-II and PM E-DRIVE.

EV charging infra startup Charge Zone scoops up $19 Mn

Entrackr

Entrackr · 1y ago

EV charging infra startup Charge Zone scoops up $19 Mn

Electric vehicle (EV) charging network Charge Zone has received a $19 million commitment from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor. In March last year, the Vadodara-based startup scooped up $54 million in its Series A1 funding round led by BlueOrchard Finance. Charge Zone will use the funds for expansion of its high-speed charging network for electric cars, buses, and trucks across key cities and highways in India, the company said in a press release. It also plans to roll out more than 1,500 supercharging stations over the next 18 months and reach a portfolio of over 10,000 charging stations by 2027. Led by Kartikey Hariyani, the six-year-old Charge Zone provides super-fast EV charging with more than 3,200 points across more than 400 locations in India and UAE. The firm has tied up with several OEMs and e-mobility companies including Hyundai, Mahindra & Mahindra, Ashok Leyland, Volvo Eicher, Tata Motors, Marriott, Hyatt, Fortune, and Landmark Group. Charge Zone added that the investment from BII is a part of their long-term plan to create a network of one million charging points for all 4W categories of vehicles including cars, buses and trucks by 2030. It will focus on key markets such as Delhi, Ahmedabad, Mumbai, Pune, Hyderabad, Bengaluru and Chennai. For the fiscal year ended in March 2023, the company reported nearly three fold jump in its operating revenue to Rs 46.93 crore, according to startup data intelligence platform TheKredible. During the period, its losses surged two fold to Rs 9.89 crore. In the rapid EV charging space, it competes with ElectricPe, Bolt.Earth, Ather Energy, BluSmart, Magenta Power, among others.

Macquarie Capital picks up minority stake in EV infra maker ChargeZone

VCCircle

VCCircle · 1y ago

Macquarie Capital picks up minority stake in EV infra maker ChargeZone

Macquarie Capital, the investment arm of Macquarie Group, has acquired a minority stake in ChargeZone, an electric mobility solutions company in India. The investment will support ChargeZone's development of its cloud-enabled EV charging network and drive the company's growth. ChargeZone specializes in building charging networks for electric buses, trucks, and cars and aims to reach one million charging points by 2030. Macquarie Capital continues to seek investment opportunities in the digital infrastructure and energy transition sectors in India and across Asia.

Union Square Ventures backs Indian EV infra startup Bolt.Earth in $20M funding

Startup News FYI

Startup News FYI · 1y ago

Union Square Ventures backs Indian EV infra startup Bolt.Earth in $20M funding

Indian startup Bolt.Earth has raised $20 million in a funding round to expand its electric vehicle (EV) charging infrastructure and software solutions. The funding came from existing and new investors, including Union Square Ventures and Prime Venture Partners. Bolt.Earth plans to use the funds to expand its charging network across India, which already covers over 50% of the country's EV charging infrastructure. Additionally, the startup aims to enter new markets in Asia, Europe, South America, and Latin America, enhance its product portfolio, and hire new talent.

Tata Power and Zoomcar collaborate for EV adoption

Startup News FYI

Startup News FYI · 1y ago

Tata Power and Zoomcar collaborate for EV adoption

Tata Power EV Charging Solutions and Zoomcar have signed an MoU to promote electric vehicle (EV) adoption in India. The collaboration will integrate Tata Power's EZ charge points with Zoomcar's platform, targeting existing customers and potential EV owners. This partnership aims to address EV charging infrastructure challenges by providing convenient access to Tata Power's extensive charging network. The collaboration is expected to encourage more EV owners to list their vehicles on Zoomcar and attract new customers to choose EVs. Tata Power plans to establish 25,000 charging points over the next five years to further develop the EV charging ecosystem in India.

EV charging startup IPEC bags $3 Mn from Gruhas

Entrackr

Entrackr · 3m ago

EV charging startup IPEC bags $3 Mn from Gruhas

EV charging startup IPEC has secured an investment of $3 million from Nikhil Kamath and Abhijeet Pai’s Gruhas. The proceeds will be used to strengthen its aim to consolidate its leadership status in the EV charging sector and accelerate growth in the broader power electronics domain, IPEC said in a press release. IPEC was founded in 2017 by the MEHER Group, together with DEKI Electronics & Sungho Electronics, with Zohra Khan as its CEO. The platform offers a range of EV charging products that include private, portable, and public chargers as well as EV Connectors and Vehicle Charging Inlets. These products are fully compliant with various national and international standards and the latest localisation regulations, including the PM E-Drive and PLI Scheme. Beyond hardware, IPEC also offers Cloud-based Charging Management Systems (CMS) and a user-friendly mobile app for real-time control and insights. IPEC is an approved supplier to leading EV OEMs like Ather Energy, Bajaj Auto, Greaves (Ampere), and more. The Bengaluru-based company aspires to drive energy transition in e-mobility with intelligent, reliable, and cost-effective charging solutions at scale that address India’s specific needs and the rising demand for locally manufactured alternatives. IPEC claims to have witnessed a 40% growth in revenue in FY25 and anticipates doubling its revenue in FY26. The company also plans to expand its avenues and capabilities into global markets. It claims to have delivered over 1 million EV charging products to the top EV OEMs in India and is gearing up to expand its manufacturing capacities to 50,000 units per month.

Jio-bp to set up 30,000 EV charging points by 2030

Inshorts · 5m ago

Jio-bp to set up 30,000 EV charging points by 2030

Jio-bp, a joint venture between Reliance Industries and global energy giant BP, reportedly plans to set up over 30,000 electric vehicle (EV) charging points in India by 2030. As per the report, Jio-bp EV charging stations will be powered by solar energy plants and nearly 70% of the electricity needs of these stations will come from green energy sources.

‘Marathon not a sprint’: Audi India head on EV adoption

Livemint

Livemint · 8m ago

‘Marathon not a sprint’: Audi India head on EV adoption

The slowdown in electric vehicle (EV) sales is temporary, according to the head of Audi India, Balbir Singh Dhillon. He believes the industry will continue to grow in the long run, but points to the need for extensive charging networks and supportive government policies. Dhillon highlighted the success of countries like Norway and Iceland, where strong charging networks and consistent government policies have aided EV penetration. In India, sparse charging infrastructure and weak resale value are seen as barriers for potential EV buyers. Dhillon called for government support in improving high-speed charging infrastructure across the country.

India needs to lead global tech transition, build jobs of the future: Ola Founder

YourStory

YourStory · 10m ago

India needs to lead global tech transition, build jobs of the future: Ola Founder

Ola Founder Bhavish Aggarwal is focused on positioning India at the forefront of the global tech transition by driving new-age technologies such as AI. He believes that the private sector should spearhead job creation, while the government must provide an enabling environment and address imbalances. Aggarwal supports the Indian government's move to incentivize global EV makers like Tesla in order to develop the EV ecosystem in the country. He emphasizes the importance of India inventing its own EV and energy transition paradigm, tailored to its specific needs. Aggarwal also underscores the need for India to become experts in future technologies to generate future jobs and supply chains.

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