May 24, 2024

  • Daily Motion

Relux Electric Powers Up South India with ₹250 Crore Funding for Hyper-Charging Stations

 

Relux Electric, a leading player in EV charging infrastructure, has secured a significant investment of ₹250 crore to expand its network of hyper-charging stations across South India. This funding, provenientes from a consortium of private real estate and infrastructure investors, will be used to establish 20 new stations along key highways within the next eight months.

The new hyper-charging stations will be strategically located on high-traffic routes like NH 44, NH 45, and NH 556. Each station will occupy a sizeable area of 1 to 1.5 acres and boast a capacity of at least 1MW, allowing for the simultaneous charging of a diverse range of electric vehicles, from small three-wheelers to large buses and trucks.

This expansion marks a significant step for Relux Electric, which currently operates over 100 charging stations primarily catering to private vehicles on highways and in urban locations. Importantly, the company has secured this funding through a revenue-sharing model, preserving its 100% equity stake.

“This investment is a testament to the growing demand for robust EV charging infrastructure in India,” said Dr. Karthikeyan Santharam, Managing Director and CEO of Relux Electric. “Our new hyper-charging stations will offer rapid charging times – just 10 minutes for three-wheelers and 18 minutes for four-wheelers – along with amenities like eateries and shopping centers, making long-distance electric travel a more convenient and attractive option.”

This move positions Relux Electric to capitalize on the burgeoning electric vehicle market in South India. By providing fast, reliable charging solutions on major highways, the company is helping to address a key concern for potential EV buyers and accelerate the adoption of electric mobility in the region.

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