CHARGE ZONE Raises $19 Million From BII To Set-up 1500 Charging Stations In 18 Months

ENA Sectors 2024-04-30 17:20:28 New Delhi, Apr 30 (KNN) In a major boost for India's electric mobility ambitions, CHARGE ZONE, a pioneering EV charging network company, has secured a commitment of USD 19 million from British International Investment (BII), the United Kingdom's development finance institution and impact investor. This substantial financial commitment from BII will accelerate CHARGE ZONE's expansion plans, with the company aiming to roll out over 1,500 high-speed charging stations for electric cars, buses, and trucks across India in the next 18 months alone. The ultimate goal is to establish a formidable network of over 10,000 charging points by 2027, aligning with CHARGE ZONE's vision of deploying one million charging stations nationwide by 2030. Our partnership with British International Investment is integral to realising our mission of driving widespread EV adoption in India, remarked Kartikey Hariyani, Founder and CEO of CHARGE ZONE. This strategic investment not only bolsters our capacity for rapid network growth but also underscores our shared commitment to a sustainable future, Hariyani added. BII's investment forms part of the UK institution's concerted efforts to provide climate finance and support India's pivotal clean energy transition. Srini Nagarajan, Managing Director and Head of Asia at BII, emphasised the criticality of this commitment, stating, Underdeveloped charging infrastructure remains a key impediment to accelerating EV uptake in India. Our partnership with CHARGE ZONE directly addresses this challenge, facilitating a more sustainable transportation ecosystem. (KNN Bureau) 37617 https://knnindia.co.in/news/newsdetails/sectors/charge-zone-raises-19-million-from-bii-to-set-up-1500-charging-stations-in-18-months 2024-04-30 17:20:28 knnindia.co.in CHARGE ZONE Raises $19 Million From BII To Set-up 1500 Charging Stations In 18 Months