EVRE Plans ₹200-250 Crore Investment for Commercial EV Charging Hubs

In a bold move towards bolstering India's electric vehicle (EV) infrastructure, third-party B2B charging solution provider EVRE has announced its ambitious plan to invest ₹200-250 crore in establishing 800-1,000 commercial EV charging hubs over the next two years. The company, which currently operates 120 charging hubs in eight cities, aims to significantly amplify its presence and contribute to the growing adoption of electric mobility in the country.

Founded in 2017, EVRE distinguishes itself as a 100% vertically-integrated EV charging company, functioning both as a charger Original Equipment Manufacturer (OEM) and a charge point operator. This unique positioning allows the company to provide end-to-end solutions in the EV charging ecosystem.

Co-Founder Chandresh Sethia shared insights into the funding strategy for this expansion, stating, "The funding will be a mix of debt and equity for this expansion. Going forward, the hubs that we are now creating are larger in terms of individual area, which would be greater than 25,000 sqft."

EVRE operates through two key business verticals. The first, as an OEM, involves selling chargers to government bodies, public sector units (PSUs), and government agencies such as distribution companies (discoms). The second vertical positions EVRE as a charge point operator, making it one of the country's largest fleet-charging players.

Chandresh Sethia emphasized the company's current focus on commercial three-wheeler logistics fleets and four-wheeler passenger fleets. EVRE aims to play a crucial role in supporting the transition of these fleets to electric power, contributing to a more sustainable and eco-friendly transportation landscape.

The company's comprehensive product portfolio includes both hardware and software solutions, emphasizing its commitment to delivering integrated and technologically advanced EV charging solutions. EVRE's ambitious expansion plans align with the broader national goal of fostering a robust and accessible EV charging infrastructure to accelerate the adoption of electric vehicles across the country.

HBL