Charging stations company Relux Electric has secured INR 250 crore in project funding from a consortium of private real estate and infrastructure investors. Currently, the company operates over 100 charging stations, primarily located along major highways and strategic urban locations, serving private vehicles exclusively. The company is planning to introduce a new service vertical aimed at fleet operators and commercial vehicles by offering dedicated AC charging stations.
Dr Karthikeyan Santharam, Managing Director and CEO of Relux Electric, detailed the expansion plans, noting the acquisition of land parcels along key highways including NH 44, NH 45, and NH 556. Each new charging station will cover an area between one to 1.5 acres and will boast a capacity of at least 1MW, accommodating simultaneous charging for a variety of vehicles from small cars to buses and trucks. Additionally, these stations will offer amenities like eateries and shopping centers and promise rapid charging times—10 minutes for three-wheelers and 18 minutes for four-wheelers.
The company's strategy for this expansion relies on a revenue-sharing model for project funding. Despite the expansion and ongoing discussions with potential investors for further funding options, it maintains full control with 100% equity ownership.
Highlighting the operational strategy, Santharam added, 'Our focus on maximising utilisation rather than merely expanding our network has enabled us to achieve operational profits from day one. Our in-house R&D and operations teams, along with our strategy of using self-designed original design equipment for charging stations, ensure minimal downtime and double the industry average asset utilisation.'
Also Read:
CHARGE ZONE Secures $19 Mn Investment To Expand EV Charging Infrastructure