EVRE Announces ₹200-250 Crore Investment for Establishment of Commercial EV Charging Hubs

In a strategic move to bolster its presence in the electric vehicle (EV) charging sector, third-party B2B charging solution provider EVRE has unveiled plans to invest between ₹200-250 crore in establishing 800-1,000 commercial EV charging hubs over the next two years. The company, founded in 2017, has already made significant strides with its current network of 120 charging hubs across eight cities.

EVRE stands out as a 100% vertically-integrated EV charging company, functioning as both the charger original equipment manufacturer (OEM) and the charge point operator. The upcoming expansion aims to capitalize on the growing demand for EV charging infrastructure and enhance the accessibility of charging facilities for electric vehicle users.

Co-Founder Chandresh Sethia shared insights into the funding strategy for this ambitious expansion, stating that the investment would be a combination of debt and equity. Sethia emphasized the evolving nature of the new charging hubs, noting that they would boast larger individual areas, each exceeding 25,000 square feet.

As EVRE positions itself as a key player in the rapidly expanding EV charging market, this substantial investment underscores its commitment to driving the adoption of electric vehicles and addressing the evolving needs of the eco-conscious consumer base.

HBL