Chennai’s EV company plans 500 charging station network pan-India
The Chennai-based Relux Electric, a fast-growing EV charging infrastructure provider in south India, is all set to invest Rs.330 crore on developing ultra-fast charging hubs in Tamil Nadu in the next five years.
The company has signed an MoU with the Tamil Nadu State Government at the Global Investors Meet 2024 to set up 150 fast charging Stations and 5 ultra-fast charging hubs with each 500kW capacity.
Relux Electric is planning to take the strength of its pan-India network to 500 during the same period, taking the capacity of its charging infrastructure to 50 MW and the valuation of the company to about Rs.150 crore.
Relux Managing Director Karthik said on 9 Jan, “We are committing to invest Rs.330 crore within the next five years in Tamil Nadu and be a part of its growth story in this sector.
“Having started off from Tamil Nadu, we are a home-grown player in the state’s EV charging infrastructure sector.”
Karthik, who is also a board member of Charge Point Operators Society of India, continued, “With the state’s enviable position as the largest automotive hub in the country, and the state government’s encouraging policies for the EV industry, we see a huge scope for growth for anything that has something to do with green mobility.”
Relux Electric has strategic partnerships with Audi and Kia that paves the way for the customers of these auto majors to charge their EVs for free. The company is in talks with other automobile brands also for the same to replicate the model that will go a long way in boosting the sale of electric vehicles in India.
Founded in 2019 with the objective of promoting green mobility, Relux Electric has already invested around Rs.25 crore in setting up charging infrastructure in the last three years. The only Charge Point Operator (CPO) in India which is operationally profitable, the company currently runs 80+ fast charging stations, with capacities ranging from 30 to 120 kW, in the south Indian states of Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Karnataka, and Puducherry. Fiinews.com
