Relux Electric’s Charging Station Expansion Gets INR 250 Crore Boost
The charging station provider Relux Electric has received a project investment of INR 250 crore from a group of individual infrastructure and real estate investors. As of right now, the business runs around 100 charging stations that are only available to private cars.
These are mainly found along important highways and metropolitan centres. The company wants to launch a new service vertical by offering specialized AC charging stations, aimed at fleet operators and commercial cars.
The 2009-founded company intends to install 20 hyper-charging stations across South India’s highways during the course of the following eight months with the help of its finances.
Relux Electric’s managing director and CEO, Dr. Karthikeyan Santharam, described the company’s expansion goals, including the purchase of property parcels near well-known routes like NH 44, NH 45, and NH 556. Every new charging station would have a minimum capacity of 1MW and span an area of one to 1.5 acres. This will allow many vehicles, including buses and trucks, to be charged simultaneously. In addition, these stations will have shopping malls and restaurants, guaranteeing quick charging periods (10 minutes for three-wheelers and 18 minutes for four-wheelers).
The expansion plan of the organization is predicated on a revenue-sharing model for project financing. It retains total control with 100% equity ownership, notwithstanding the expansion and ongoing talks about new funding alternatives with possible investors.
“Our focus on maximizing usage rather than just growing our network has enabled us to create operating profitability from day one,” Santharam said, highlighting the operational strategy.
Our use of self-designed original equipment for charging stations, together with our in-house R&D and operational teams, ensures low downtime and doubles the industry average asset utilization.
