ChargeZone has secured long-term energy contracts worth more than $1 billion, or around Rs 10,500 crore, across electric buses, trucks and commercial car fleets, providing greater demand visibility for its planned expansion of EV charging infrastructure.
The company plans to deploy 1,000 new supercharging stations across key national highway corridors. The contracted fleets are expected to support more than 15,000 electric vehicles daily, allowing ChargeZone to plan charging capacity based on predictable commercial fleet routes and charging requirements.
The planned expansion will add 180 MW of charging capacity, taking ChargeZone’s cumulative network capacity from 120 MW to 300 MW. At full deployment, the company expects to deliver around 700 GWh of energy annually and support more than 15,000 charging sessions each day.
Network utilisation is expected to increase to around 30 per cent from the current 14 per cent, supported 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, ChargeZone.
ChargeZone has also secured $25 million, equivalent to Rs 250 crore, in debt financing from Indian banks and plans to raise an additional $100 million during 2026-27. The funds will be used for new supercharging stations, microgrid infrastructure, energy-management technology and network expansion.
ChargeZone CFO Manish Madhogaria said the long-term contracts provide greater visibility into future energy revenues and allow the company to deploy capital against assets with a clearer demand profile. The company plans to use a combination of debt and equity to fund the expansion while maintaining capital discipline.
The company will also integrate renewable energy sources, including solar power and battery energy storage systems, across its charging infrastructure. These systems are intended to increase renewable energy use, manage peak power requirements and improve energy resilience at charging sites.
ChargeZone currently operates more than 15,000 charging points across over 1,200 locations in India and the UAE, according to the company.
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