The Indian Wire » Startups » EV Motors India plans to raise ₹1,400 crore to set up 6,500 electric vehicle charging outlets

EV Motors India plans to raise ₹1,400 crore to set up 6,500 electric vehicle charging outlets

Noida-based electric mobility startup EV Motors India is looking to raise around ₹1,400 crore ($200 million), in order to build a network of over 6,500 electric vehicle outlets in India in the next five years. The charging outlets will be built in partnership with DLF, ABB India, and Delta Electronics.

The news comes the startup inaugurated its first charging outlet named “PlugNgo”, in Gurugram on November 28. It will be installed at businesses and residential complexes across cities and will be networked and connected to its cloud-based integrated software platform.

Over the next year, it plans to set up 20 outlets in the Delhi NCR region, later expanding to other cities including Bengaluru, Chandigarh, Jaipur, Ahmedabad, Kanpur, Kolkata, Mumbai, Pune, Hyderabad, Amritsar, Bhubaneshwar, Cochin, Indore, and Chennai.

Talking about expansion plans supporting EV adoption in India, Vinit Bansal, Managing Director, EV Motors India, said, “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.”

As the Indian government pushes for the adoption of hybrid and electric vehicles in India, with a target of 6-7 million sales year on year, starting 2020. The charging stations will play a crucial role in boosting the adoption of EVs in the country, providing a robust infrastructure.

With the aim of delivering customised installation support, a 24×7 service, maintenance support and remote vehicle charging monitoring and e-payments through the PlugNgo mobile application based on iOS and Android platforms, the startup will also support all kinds of vehicles including two-wheelers, three-wheelers, cars, and buses.

Check out the list of top 10 startups accelerating the growth of electric vehicles in India.

Reach out to The Indian Wire!

Want to work with us? Looking to share some feedback or suggestion? Have a business opportunity to discuss?

You can reach out to us at [email protected] and we will get back in minutes.

Like us on Facebook!