CHARGEZONE Secures Long-Term Charging Contracts for EV Fleets

CHARGEZONE has announced that it has secured long-term contracts for EV charging with a cumulative value of more than USD 1 billion (approximately INR 10,500 crore) across intercity electric buses, trucks and commercial car fleets. The contracted demand will support CHARGEZONE’s planned expansion, which includes the deployment of 1,000 new charging stations across key national highway corridors.

CHARGEZONE has secured USD 25 million (INR 250 crore) in debt financing from Indian banks. The company plans to raise an additional USD 100 million during 2026–27. The funds will be used for charging stations, micro-grid infrastructure, energy-management technology and network expansion. The planned expansion is expected to add 180 MW of charging capacity, taking CHARGEZONE’s cumulative network capacity from 120 MW to 300 MW.

At full deployment, the company expects the expanded network to deliver approximately 700 GWh of energy annually and support more than 15,000 charging sessions per day. Average network utilisation is projected to reach 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. According to CHARGEZONE, 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, which can provide 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. These systems are intended to increase the share of renewable energy used for charging, manage peak power requirements and support site-level energy resilience.

The company operates an EV charging network across India and the UAE, with over 15,000 charging points across 1,200+ locations. Its technology platform includes ChargeCloud and AutoCharge for network management and interoperable charging.

Also read: ChargeZone and TATA.ev launch Mega Charging Hub on Mumbai-Pune Expressway