Charge Zone Secures US$ 19 Million for EV Charging Expansion - News

Vadodara-based electric vehicle (EV) charging company, Charge Zone, has secured a US$ 19 million commitment from the UK’s development finance institution and impact investor, British International Investment (BII). This follows the company’s successful US$ 54 million Series A1 funding round in 2023, led by BlueOrchard Finance Ltd. 

This investment will be used to expand the company’s long-term strategy to establish a high-speed charging network of 1 million charging points for electric cars, buses, and trucks by 2030, focusing on key markets like Delhi, Mumbai, Ahmedabad, Pune, Hyderabad, Bengaluru, and Chennai. Additionally, the company plans to roll out over 1,500 supercharging stations in the next 18 months, with a target of exceeding 10,000 charging stations by 2027. 

Kartikey Hariyani, Founder, Charge Zone, mentioned that the company currently operates more than 3,200 super-fast EV charging points across 400 locations in India and UAE. The company has partnerships with major original equipment manufacturers (OEMs) and e-mobility firms such as Hyundai Motor India Ltd, Tata Motors Ltd, Ashok Leyland Ltd, and more. The company continues to thrive alongside industry leaders such as ElectricPe, Bolt.Earth, and Ather Energy in the dynamic EV charging sector.