Growth Analysis of Volttic’s Journey in Revolutionizing India’s EV Infrastructure
Volttic was founded in 2017 by Varun Chaturvedi, along with co-founders Shweta Chaturvedi and Surendra Singh They have since become a leading electric vehicle (EV) charging infrastructure developer in India, providing end-to-end EV charging solutions and services.
Vision and Mission:
Vision: Volttic envisions a future where electric mobility is accessible, sustainable, and convenient for everyone. They aim to contribute to a cleaner environment by promoting electric vehicles (EVs) and building a robust charging infrastructure.
Mission: Volttic’s mission is to accelerate the adoption of EVs by providing reliable, efficient, and user-friendly charging solutions. They strive to create a seamless experience for EV owners, ensuring that charging stations are readily available across India.
Services and Products:
Charging Infrastructure: Volttic offers a comprehensive charging infrastructure network. Their services include the installation, maintenance, and management of charging stations at various locations, including homes, offices, and public spaces.
🔌 VOLTTIC DC Fast CCS2 & CHadeMo Chargers
🔌 VOLTTIC Bharat DC01 Fast EV Chargers
Home Charging Solutions: Volttic provides residential charging solutions, allowing EV owners to charge their vehicles conveniently at home. These solutions are customizable based on individual requirements.
🔌 VOLTTIC AC Type 2 Charger
🔌 VOLTTIC Bharat AC01 Charger
Corporate Charging Stations: Volttic collaborates with businesses to set up charging stations at corporate offices, commercial complexes, and parking lots. Their charging points comply with industry standards.
🔌 VOLTTIC AC Type 2 Charger
🔌 VOLTTIC CCS2 EV Chargers
Fuel Outlets EV Charging: Volttic EV charging solutions for fuel outlets make your existing fuel station EV ready to cater charging demands of EVs and make your future-ready
🔌 VOLTTIC Bharat DC01 EV Chargers
🔌 VOLTTIC Super DC fast EV chargers.
Hotel & Hospitality EV Charging: Delight your guest with a seamless EV charging experience by installing Volttic EV charging solutions best suited for the hotel & hospitality industry
🔌 VOLTTIC AC Type 2 Charger
🔌 VOLTTIC CCS2 EV Chargers
Mobile App: Volttic’s mobile application helps users locate nearby charging stations, check availability, and monitor charging status. The app also provides real-time updates and technical information.
White-Label Platform: Volttic’s white-label platform allows other businesses to create their branded EV charging apps. It’s a turnkey solution for organizations interested in offering EV charging services.
Consultancy Services: Volttic provides consultancy services related to EV charging infrastructure planning, design, and implementation.
Achievements:
Network Expansion: They are the leading EV Charging service provider in India. Installed 950+ EV charge points including Bharat AC01 Type 2, Bharat DC01 & CCS2 EV Chargers.
✅ Volttic is a registered trade mark product of Tvesas Electric Solutions Pvt Ltd for Electric Vehicle Charging Services
Impact and Reach:
✅Impact: Volttic’s impact lies in promoting sustainable transportation by providing EV charging infrastructure. Their network of 950+ charging points across India contributes to reducing carbon emissions.
✅ Reach: Volttic’s presence extends to major cities, highways, and corporate hubs. Their charging stations are accessible to EV owners nationwide.
About Funding:
✅ Volttic is not supported by any form of venture capital (VC), private equity (PE), or external investors, it operates solely on its resources, whether it’s the founder’s personal savings, revenue generated from sales, or loans from traditional financial institutions.
Current Presence:
Expansion Plan:
✅ Phase-Wise Implementation: Volttic has a well-defined expansion plan. By 2027, they aim to deploy 10,000+ charging points.
Growth Metrics:
✅ From just a few numbers in 2019 with a total of 45 EV charging points now in 2024, they have 950+ EV charging points across India.
✅ Going forward, by 2025, there will be around 2000+ EV charging points where we will have a presence across all major cities in India.
✅ Going ahead in the long term they are looking to cover India with 10000+ EV charging points by the FY27 end and same time targeting to have 10X growth in their revenue figures.
Growth Drivers:
✅ Volttic is committed to building “Safe, Reliable & Efficient EV Charging Infra” across India.
✅ Their first installed machines are still running healthy and making revenue for Volttic, and they are as good as new machines.
✅ They are making a difference in operations reliability as part of our service offering and making charging infra users comfortable while driving an EV.
✅ Volttic is helping EV fleet clients to build EV charging infrastructure at their convenience.
Growth Challenges:
Volttic doesn’t have help from big investors like venture capitalists or private equity firms. This means they have to be really careful with their money. They can’t rely on outside funding, so they have to make smart decisions about where to spend their money.
Even though this makes things a bit harder for them, it also gives them more freedom to do things their own way. But because they don’t have big investors backing them, they might miss out on some useful resources and connections. Still, Volttic is doing really well and growing fast, showing that they can handle these challenges and succeed on their own terms.
Growth Opportunities:
They already have the largest base of EV fleet clients and expect to grow by 200% in FY25 as demand for EV fleets is soaring.
Conclusion
Volttic, founded in 2017, has become a prominent player in India’s EV charging infrastructure sector. Despite operating without external investors, their commitment to sustainability and innovation drives their comprehensive range of charging solutions. While the lack of external funding presents challenges, Volttic’s rapid growth showcases its ability to succeed independently. With a focus on reliable and efficient charging infrastructure, Volttic is poised for continued expansion and impact in the electric mobility landscape.