EVI Technologies to set up 20,000 EV charging stations in Delhi

The company, in collaboration with BSES, will initially install 3,000 EV charging stations in the capital city with fares starting at Rs 5/unit.

Delhi-based electric vehicle (EV) charging infrastructure provider, EVI Technologies Pvt. Ltd. has recently announced plans to invest Rs 100 crore in the next one and a half years to set up 20,000 EV charging stations in India.

According to Business Line, Rupesh Kumar, CEO, EVI Technologies, said that the company aims to create a network of around 20,000 EV chargers located at several homes and public places. He said that the investment required for the strategic plan would be around Rs 100 crore for which the company is in talks with finance partners who have already financed its leasing model.

Speaking on the funding, Kumar said that the company already owns seed funding for its government orders, however, it is now in talks with angel investors for further funding as it seeks to raise around Rs 5 crore.

As per reliable sources, EVI Technologies, located at the Ministry of Electronics and Information Technology funded Electropreneur Park, has also partnered with BSES Rajdhani Power Ltd. to set up around 3,000 charging stations in Delhi.

Commenting on the move, Kumar said that the company’s plan to set up around 3,000 EV charging stations will require an investment of around Rs 15,000 to Rs 20,000 per charging station in Delhi.

Sources claim that EVI, under this partnership, will invest in setting up charging stations for lease, while BSES will offer charging services with fares at Rs 5/unit in the capital. Kumar added that the charging station in the capital will mainly be located in areas with a large number of e-rickshaw. However, the stations can also be used for charging electric cars, he said.

Founded in 2017, EVI Technologies offers its charging stations on lease to private users. In December 2017, the company won orders for 50 charging stations which are currently being installed in several ministry complexes. Moreover, EVI now has presence in 16 locations across 10 Indian states.