BII Invest $19 Mn To Expand CHARGE Zone Network In India

BII Invest $19 Mn To Expand CHARGE Zone Network In India

CHARGE ZONE, secured a $19 million commitment from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor. 

CHARGE ZONE, is an Indian electric vehicle (EV) charging network provider, and DFI is the UK’s development finance institution. This collaboration forms part of their long-term plan to create a network of one million charging points by 2030. To fund the expansion, CHARGE ZONE has successfully raised a total of $54 million from investors. CHARGE ZONE’s expansion strategy will focus on key markets such as Delhi, Ahmedabad, Mumbai, Pune, Hyderabad, Bangalore, and Chennai where the demand for EV charging infrastructure is rapidly growing. By deploying open-access hubs for fleet charging, CHARGE ZONE aims to facilitate the seamless transition to electric mobility for commercial fleets operating in urban centers.

“Our partnership with British International Investment is integral to our mission of driving widespread adoption of electric vehicles in India,” expressed Kartikey Hariyani, Founder and CEO of CHARGE ZONE. “This strategic investment not only bolsters our capacity for network expansion but also serves as a testament to our shared vision for a sustainable future. With this infusion of capital, we will accelerate our efforts in deploying state-of-the-art charging stations, ensuring that EV drivers across the nation experience unparalleled convenience and reliability. This investment is not just about funding; it’s a catalyst for transformation, empowering us to usher in a new era of electric mobility in India.”

Srini Nagarajan, Managing Director and Head of Asia, at BII, commented: “As the UK’s DFI with a focus on providing climate finance, we continue to play a key role in accelerating India’s clean energy transition. Our support of CHARGE ZONE’s expansion will address the challenge of an underdeveloped EV charging infrastructure, facilitate a more sustainable transportation system, and make EVs a viable and accessible option for many across the country.”

The investment from BII not only accelerates CHARGE ZONE’s growth trajectory but also reinforces its position as a leader in India’s evolving EV landscape. By providing reliable, accessible, and sustainable charging infrastructure, CHARGE ZONE is driving positive change and laying the groundwork for a cleaner, greener future.