Vadodara-based ChargeZone plans 1,000 EV charging stations on national highways

Vadodara: A city-based EV charging infrastructure company, ChargeZone, has secured long-term energy contracts worth more than $1 billion (around Rs 10,500 crore) across intercity electric buses, trucks and commercial car fleets, providing the company with demand visibility for its next phase of network expansion. The company plans to install 1,000 new supercharging stations along key national highway corridors. The contracted fleets are expected to support more than 15,000 electric vehicles (EVs) daily.

ChargeZone said the contracts will allow it to assess charging capacity requirements based on predictable commercial fleet routes and charging frequency, rather than relying largely on projected EV traffic.

The planned expansion will add 180 MW of charging capacity, taking the company’s total network capacity from the current 120 MW to 300 MW. Once fully deployed, the network is expected to deliver around 700 GWh of energy annually and support more than 15,000 charging sessions every day.

The company expects network utilisation to increase to around 30%, compared with the current 14%, as the new infrastructure will be backed by contracted fleet demand.

“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,” said Kartikey Hariyani, founder and CEO of ChargeZone.

ChargeZone CFO Manish Madhogaria said the long-term contracts provide better visibility into future energy revenues and enable the company to deploy capital against assets with a clearer demand profile. He added that the expansion will be funded through a mix of debt and equity while maintaining capital discipline.

The company also plans to integrate renewable energy sources, including solar power and battery energy storage systems (BESS), into its charging network. These systems will help increase renewable energy use, manage peak power demand and improve energy resilience at charging sites.

According to the company, ChargeZone currently operates more than 15,000 charging points across over 1,200 locations in India and the UAE. DeshGujarat