EV charging solution provider Volttic plans to set up about 12,000 charging points by 2025-26, as it aims to cover all Indian state capitals and metro cities in a phased manner. Volttic was founded in 2016, but started operations in 2019 after the government announced the FAME II scheme.
Varun Chaturvedi, Founder and CEO, Volttic Electric Vehicle Charging Solutions said the company, in the first two to three years, will focus on all capital cities across the states and metro cities, and will follow that up with targeting Tier II cities in the next phase.
Chaturvedi is of the view that there is not enough demand for charging stations as of now. “People are waiting for charging infrastructure to develop, while the EV charging solution providers are waiting for the EV demand to pick up. As the demand for EVs go up the number of charging stations across cities, highways and metros will also increase,” he said.
He said by the next four or five years, we will have a good number of charging stations all across the country. Volttic has invested INR 2 crore for now, and is planning to invest another INR 15 crore this year.
“We have a plan to invest at least $ 2 million. That is where we are having lots of discussions. It is all driven by the demand in the market,” Chaturvedi added.
Volttic currently operates about 200 charging stations across India with Bharat AC01, Bharat DC01, CCS2 and CHAdeMo EV charger types. It is focused on providing charging infrastructure for both personal and commercial use, including corporate offices and housing societies. On the commercial side, they are providing chargers to fleet operators across their hubs.