Boosting high speed EV infrastructure across India

Boosting high speed EV infrastructure across India

Our investment is helping expand reliable charging infrastructure, accelerating the shift to electric vehicles

 

The transport sector is India’s third-largest source of energy-related greenhouse gas emissions, with road transport accounting for the majority. As India works towards its target of net-zero emissions by 2070, electric vehicles (EVs) replacing conventional internal combustion engine (ICE) vehicles on India’s roads is critical. However, one of the challenges impeding widespread adoption of EVs in India is the lack of reliable, accessible charging infrastructure.

ChargeZone is one of India’s fastest-growing EV charging network operators. It develops and operates open access EV charging hubs which can be used by any type of vehicle, including buses, trucks, cars and taxi fleets. ChargeZone hubs are powered by its own tech platform which offers users real-time monitoring, app-based access and advanced safety features. The service is particularly cost-effective for businesses that lack the upfront capital needed to set up their own EV hubs.

In 2024, we invested $19 million to support ChargeZone’s expansion across key cities and major transport corridors in India. This financing will help to support the rollout of more than 1,500 super-charging stations, towards a total of 10,000 charging stations by 2027. The company is already progressing towards that goal: in 2025, ChargeZone opened India’s largest EV charging hub in Bengaluru, with capacity to charge more than 200 vehicles at once.

Investment name: ChargeZone
Location: India

Investment type: Growth Portfolio

For many years, we used only petrol and diesel [stations]. But now, using ChargeZone, it’s the best experience.”

Prakash

ChargeZone customer

 

It feels good to drive an EV vehicle. You can cover long distances at very low cost.”

Subhajit

ChargeZone customer

 

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.”

Kartikey Hariyani

Founder and CEO, ChargeZone

 

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