EV Motors,DLF,Delta & ABB to invest US$ 200m in charging stations

Mumbai: EV Motors India Wednesday said it plans to set up 6,500 electric vehicle (EV) charging stations over the next five years in partnership with DLF, ABB India and Delta Electronics, and will invest up to USD 200 million in the project.

The charging outlet named PlugNgo will be installed at businesses and residential complexes across cities, and will be networked and connected to its cloud-based integrated software platform, the company said in a release.

"Towards the vision of a large fleet of EVs across the country, a co-ordinated approach between real estate developers, vehicle OEMs and charger manufacturers is necessary," said Vinit Bansal, managing director, EV Motors India.

PlugNgo plans to set up 20 outlets in Delhi-NCR in the next one year, followed by expanding its reach to other cities such as Bengaluru, Chandigarh, Jaipur, Ahmedabad, Kanpur, Kolkata, Mumbai, Pune, Hyderabad, Amritsar, Bhubaneshwar, Cochin, Indore, and Chennai over the next one year, the release said.

Besides, the Delhi-based startup will also be setting up service centres at each of these cities, it added.

"The company along with its partnership strategy will further introduce 6,500 charging outlets over the next five years with a total estimated investment requirement of USD 200 million," the company said.

The company aims to deliver customised installation support, a 24x7 service, maintenance support and remote vehicle charging monitoring and e-payments through the PlugNgo mobile application based on iOS and Android platforms.

In addition, it will also have a range of charging equipment for all kinds of two wheelers, three wheelers, passenger cars and buses, the release said.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.