Charge Zone Secures USD 19 Million for EV Charging Expansion
By Rediff Money Desk, NEWDELHI Apr 30, 2024 16:36
Charge Zone, an Indian EV charging company, receives USD 19 million from British International Investment to expand its network and reach 10,000 charging stations by 2027.
New Delhi, Apr 30 (PTI) Gujarat-based Charge Zone on Tuesday said it has secured a financial assistance of USD 19 million (about Rs 160 crore) from British International Investment.
It will utilise the proceeds to roll out more than 1,500 super-charging stations over the next 18 months to reach a portfolio of over 10,000 charging stations by 2027, the company said in a statement.
"Charge Zone has secured a USD 19 million commitment from British International Investment (BII), the UK's development finance institution (DFI) and impact investor," the statement said.
Charge Zone operates fast-charging stations at more than 400 locations in India and the UAE. The company plans to create a network of 10 lakh charging points by 2030. To fund the expansion, it has successfully raised a total of USD 54 million from investors.
British International Investment is the UK's development finance institution and impact investor.
It will utilise the proceeds to roll out more than 1,500 super-charging stations over the next 18 months to reach a portfolio of over 10,000 charging stations by 2027, the company said in a statement.
"Charge Zone has secured a USD 19 million commitment from British International Investment (BII), the UK's development finance institution (DFI) and impact investor," the statement said.
Charge Zone operates fast-charging stations at more than 400 locations in India and the UAE. The company plans to create a network of 10 lakh charging points by 2030. To fund the expansion, it has successfully raised a total of USD 54 million from investors.
British International Investment is the UK's development finance institution and impact investor.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.17 ( -6.43)
- 52239743
- G V Films
- 0.90 ( -4.26)
- 31710216
- Srestha Finvest
- 0.93 (+ 4.49)
- 25581964
- Spicejet Ltd.
- 59.30 ( -5.56)
- 17155667
- Gennex Laboratories
- 20.64 ( -4.97)
- 12910193
MORE NEWS
Mylan Settles Patent Suit with Novo Nordisk...
Mylan Pharmaceuticals Inc. and Novo Nordisk have reached a settlement in the US over a...
India-UAE Investment Treaty in Effect: Key...
India and UAE's Bilateral Investment Treaty (BIT) came into effect on August 31, 2024,...
Sensex, Nifty Rise in Early Trade: Global...
Indian stock markets rebounded in early trade on Monday, mirroring a global rally....