CHARGEZONE has secured long-term EV charging contracts with a cumulative value of more than USD 1 billion (approximately INR 10,500 crore) across intercity electric buses, trucks and commercial car fleets, supporting its planned deployment of 1,000 new charging stations across key national highway corridors.
The company has also secured USD 25 million (INR 250 crore) in debt financing from Indian banks and plans to raise an additional USD 100 million during 2026–27. The funds will be used to develop charging stations, micro-grid infrastructure, energy-management technology and expand its charging network.
The planned expansion is expected to add 180 MW of charging capacity, increasing CHARGEZONE’s cumulative network capacity from 120 MW to 300 MW.
At full deployment, the expanded network is expected to deliver approximately 700 GWh of energy annually and support more than 15,000 charging sessions per day. Average network utilisation is projected to increase to approximately 30%, compared with the current utilisation of 14%.
The company expects the new charging stations to support more than 15,000 EVs daily across the contracted fleets. CHARGEZONE said the predictable routes and recurring charging requirements of commercial fleets provide greater visibility into expected energy demand and charging capacity requirements.
Kartikey Hariyani, Founder and CEO, CHARGEZONE, said “India’s EV charging market is entering a phase where scale will be measured not only by how many chargers are deployed, but by how much energy is delivered and sold through them and how consistently those assets are utilised. With long-term demand contracted across buses, trucks and fleets, we can build new capacity against visible energy consumption rather than wait for demand to emerge after deployment. That improves the economics of every station and creates a stronger foundation for bringing long-term capital into charging infrastructure at scale.”
Manish Madhogaria, Chief Financial Officer, CHARGEZONE, said “EV charging is a capital-intensive infrastructure business, so the quality and visibility of demand behind every asset becomes critical as the network scales. These long-term contracts give us greater visibility into future energy revenues and allow us to deploy capital more selectively against infrastructure with a clearer demand profile. As we raise the next pool of capital, our focus will be on building the right mix of debt and equity to fund this expansion while maintaining capital discipline.”
The company said the expansion is being planned around long-term fleet demand rather than projected EV traffic. Buses and trucks operating on defined routes have recurring charging requirements, providing greater visibility into expected station utilisation before infrastructure is deployed.
CHARGEZONE also plans to integrate renewable energy sources, including solar power generation and battery energy storage systems (BESS), across its charging infrastructure. The systems are intended to increase the share of renewable energy used for charging, manage peak power requirements and support site-level energy resilience.
CHARGEZONE operates an EV charging network across India and the UAE, with more than 15,000 charging points across 1,200+ locations. Its technology platform includes ChargeCloud and AutoCharge for network management and interoperable charging.
