CHARGE ZONE, the fastest-growing electric vehicle (EV) charging network, announced that it has secured a $19 million commitment from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor. This investment marks a pivotal milestone in CHARGE ZONE’s mission to revolutionise electric vehicle infrastructure in India.
With this fresh round of funding, CHARGE ZONE is well-positioned to accelerate the rollout of its high-speed electric vehicle (EV) network throughout major Indian cities and roads.
“Our partnership with British International Investment is integral to our mission of driving widespread adoption of electric vehicles in India,” expressed Mr. Kartikey Hariyani, Founder and CEO of CHARGE ZONE. “This strategic investment not only bolsters our capacity for network expansion but also serves as a testament to our shared vision for a sustainable future. With this infusion of capital, we will accelerate our efforts in deploying state-of-the-art charging stations, ensuring that EV drivers across the nation experience unparalleled convenience and reliability. This investment is not just about funding; it’s a catalyst for transformation, empowering us to usher in a new era of electric mobility in India.”
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This gives the corporation the ability to install more than 1500 super-charging stations in the upcoming 18 months, with a goal of having over 10,000 charging stations in its portfolio by 2027. This is a component of their long-term strategy to build a million charging stations by 2030. CHARGE ZONE has successfully raised $54 million from investors to finance the development.
Srini Nagarajan, Managing Director and Head of Asia, at BII commented: “As the UK’s DFI with a focus on providing climate finance, we continue to play a key role in accelerating India’s clean energy transition. Our support of CHARGE ZONE’s expansion will address the challenge of an underdeveloped EV charging infrastructure, facilitate a more sustainable transportation system and make EVs a viable and accessible option for many across the country.”
About Charge Zone
CHARGE ZONE is a tech-driven EV Charging infrastructure company specializing in B2B and B2C charging services on both dedicated and opportunity based charging using smart-grid network.
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