Chandresh Sethia, Co-Founder and CBO of EVRE, has embarked on a mission to enhance the electric vehicle (EV) charging infrastructure in India, focusing on commercial vehicles. Since its inception in 2017, EVRE has been at the forefront of developing innovative charging solutions and infrastructure, addressing some of the most pressing challenges in the EV sector.
EVRE's journey began with a clear vision to decarbonise the motor vehicle sector in India, aiming to transition the movement of goods and people to electricity. This vision has translated into a dual-focus business model: selling in-house developed charging stations and operating as a charging infrastructure player. The strategic decision to concentrate on commercial vehicles, rather than private or public charging, is driven by the substantial energy consumption and operational frequency of these vehicles, presenting a lucrative opportunity for value creation in the charging network. The patented technology enhances the efficiency of slow charging by providing precise data on charging patterns, which is crucial for fleet management and operational optimisation.
Geographically, EVRE's operations are concentrated in India's major cities, with over 55 charging hubs dedicated to commercial vehicles. These hubs vary in size, reflecting the evolution of the commercial EV market in the country. The largest hub, located in Whitefield, Bangalore, serves as a testament to EVRE's capacity to cater to both logistics and passenger vehicle segments.
The establishment of these hubs faces challenges, such as acquiring suitable real estate and securing reliable electrical connections. However, EVRE's commitment to overcoming these obstacles is evident in its proactive approach to improving the reliability and efficiency of its charging infrastructure. The company's focus on technological innovation is aimed at developing scalable solutions that can adapt to different vehicle requirements, enhancing asset utilisation and operational efficiency.
Internationally, EVRE eyes the European, Southeast Asian, and Middle Eastern markets for their product exports. Their commitment to producing competitively priced, high-quality products positions them as a strong contender against predominantly Chinese-made chargers. Regulatory compliance and certification are crucial steps in this expansion, underscoring EVRE's dedication to meeting international standards.
A significant aspect of EVRE's vision is the integration of clean energy sources into their charging infrastructure, aligning with global sustainability goals. While currently reliant on grid electricity, the company's roadmap includes transitioning to cleaner power sources, particularly for their larger hubs, further solidifying their commitment to environmental stewardship.
With an investment of approximately INR 48-49 crore in equity and debt and an impending infusion of INR 200 crore, EVRE is poised for substantial growth. This financial backing will enable the company to expand its charging infrastructure and continue innovating in the EV charging space, especially for commercial vehicles.
EVRE's journey, underpinned by a strong environmental ethos and a strategic focus on commercial vehicle charging, significantly contributes to India's EV landscape. By addressing the specific needs of this segment and committing to technological and sustainable advancements, EVRE is setting a new standard for the EV charging industry in India and potentially on a global scale.
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