Magenta to deploy EVs for govt use in Telangana for Go Electric Campaign

Telangana State Renewable Energy Development Corporation Limited (TSREDCO) has signed an agreement with Navi Mumbai-based electric vehicle solutions company Magenta, under which TSREDCO will coordinate the transition of government officer transport from ICE (Internal combustion Engines) vehicles to EVs across the state departments of Telangana.

TSREDCO is the nodal agency for the state of Telangana for the promotion of energy conservation initiatives and renewable energy programmes and projects such as adoption of electric vehicles. It has been working towards delivering the mission of the ‘Telangana Electric Vehicle & Energy Storage Policy 2020-2030’ to make Telangana a hub for electric vehicles & energy storage systems.

As part of this initiative, Magenta will deploy electric vehicles under its EVET (Electric Vehicle Enabled Transport) platform and associated charging infrastructure across the state and strive to achieve substantial reduction in total cost of transportation for personal and commercial purposes, supported by a strong charging infrastructure. The EVET platform is a tech-enabled EV deployment platform which allows for optimizing and managing EVs through a centralized system and network management. This in tandem with their existing ChargeGrid platform which allows for a fully integrated EV deployment solution for corporates and governments.

Incorporated in 2017, Magenta was founded by Maxson Lewis and Darryl Dias. The duo have combined global experience of over 3 decades in management consulting, automotive & renewables industries. Over the last three years, Magenta has established itself as a key player in the EV charging market under the ChargeGrid brand. This agreement with TSREDCO marks the launch of Magenta in the EV mobility sector under their EVET brand.

Mr. Maxson Lewis, MD of Magenta said on the occasion, “Magenta is committed to solving EV challenges. We started solving the EV charging challenges with made in India, made for India solutions.

With the launch of our EVET platform, we are now targeting to make electric mobility smart & affordable. We are extremely delighted to partner with Telangana state government to make it an EV amenable state under its GO ELECTRIC campaign spearheaded by TSREDCO. We are committed to spearheading the EV growth in India by aggressively deploying charging stations while leveraging our advanced technology platform for deploying the mobility solutions.”

Seed-funded by HPCL in 2018 & incubated by Shell in 2019, Magenta is also backed by the Microsoft Startup Program to further boost its advanced technology platform for electric mobility.

In 2020 Magenta raised a pre series funding from JAN (JITO Angel Network) and LetsVenture. In May 2021, Magenta announced that it had closed its Series A funding by renowned Indian-American philanthropist, billionaire and serial entrepreneurs.