Magenta, a Navi Mumbai-based company that provides EV charging solutions, announced Tuesday that it has installed the country’s largest public EV charging station in its plan to provide 4,000 charging stations by March next year.
It also plans to expand to overseas markets by the March quarter of this fiscal year, as Magenta provides end-to-end hardware, software, installation, operations, and maintenance of electric vehicle charging solutions. The company had recently closed its round of Series-A funding of Rs 120 crore from American philanthropist Kiran Patel and intends to pump in Rs 30 crore to build its charger development and manufacturing facility for India and for exports.
The company said that this integrated charging plus development plus manufacturing unit would cater to the development and production of AC chargers as well as street lamp chargers.
According to Magenta, the integration of charging, development, and manufacturing will enable it to be an end-to-end ‘Socket-to-Software’ solution provider for EV charging.
Maxson Lewis, Co-founder and Managing Director, Magenta Group, told PTI that the Magenta Group is investing close to Rs 55 crore in CAPEX for the installation of 4,000 chargers this year. In addition to the 4,000 such facilities, about 1,000 are being built in conjunction with the public sector oil marketing company HPCL, he said.
Minister of Industries and Mining, Subhash Desai, said, “Our draft EV Policy 2021 aims to bring 1,46,000 battery-operated electric vehicles (BEVs) to the road by 2025, estimated to comprise about 10 per cent of all new vehicle registrations by that time”.
Description of the Charging Station
As the latest state to announce an EV policy, Maharashtra proposes to offer incentives to early adopters of electric vehicles in addition to benefits provided by the FAME II scheme. Gujarat and Delhi are other states that have EV policies.
The charging station, which is available 24 hours a day, has 21 chargers, including four DC chargers (15-50 kW) and 17 AC chargers (3.5-7.5 kW). The AC chargers were developed and manufactured in India.
A vehicle can be charged in less than an hour depending on its usage. A parking bay can be used for overnight charging of vehicles that need AC slower charging. Using Magenta’s ChargeGrid App for online remote monitoring that includes an integrated payment gateway, these chargers can be operated.
This public EV charging station has been established in Navi Mumbai by the government’s plan to install 4,00,000 charging stations over the required number of EVs by 2026. The India SMEV market stats show 1,800 charging stations with 16,200 electric vehicles, including fleet vehicles (March 2021).
Adoption of EVs in India
The Indian market is slowly beginning to embrace electric vehicles, but there are still limited options for four-wheelers. Among the most popular mainstream electric cars are the Tata Nexon, MG ZS and Hyundai Kona. Mahindra currently has two electric vehicles, the all-electric eKUV and the all-electric eXUV300, slated for the Indian market, offering buyers a wider array of choices in the near future. Among the luxury cars in this segment, buyers can choose between the Mercedes EQC, Jaguar I-Pace and Audi’s e-Tron and e-Tron Sportback in the coming weeks.