ChargeZone Seeks $125M For EV Charging Growth, Eyes OEM Partnerships

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The company stated that collaborating with OEMs will enable electric vehicle owners to utilize public charging stations and support energy storage for automotive users.

ChargeZone, a key player in EV charging infrastructure, is set to collaborate with leading Indian automakers to enhance the country’s EV infrastructure. The company’s CEO, Kartikey Hariyani, announced upcoming MoUs with Tata Motors, Volvo-Eicher, Ashok Leyland, and Maruti Suzuki. Tata Motors is expected to disclose details for passenger vehicles and MHCVs soon. Recently, ChargeZone joined forces with MG Motors, adding to its past collaborations with Hyundai, Mercedes Benz, Kia Motors, and Audi.

The partnerships aim to improve public charging access for electric vehicle owners and support automotive energy storage. ChargeZone is also raising new funding, following a previous $50 million round, with a target of $125 million by next summer.

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ChargeZone caters to both passenger vehicles and MHCVs, requiring different charging capacities, with electric buses and trucks needing superchargers of around 180 kilowatts, compared to 30-60 kilowatts for cars. The company’s Billion Electric platform is working with Ashok Leyland to deploy electric trucks for mid-mile mobility, typically up to 500 km, with an announcement expected by year-end.

Hariyani acknowledges challenges in building robust EV infrastructure in India, such as site location, electrical load, and highway reliability, issues common globally. ChargeZone has expanded its reach beyond India, providing its Charge Cloud technology to ADNOC in Abu Dhabi.

ChargeZone’s proprietary technology, Charge+ Cloud, is designed to streamline and automate the charging process, enhancing user experience.

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