CHARGEZONE Secures USD 1 Billion EV Charging Contracts, Plans 1,000 New Stations

CHARGEZONE, an EV supercharging network, has announced that it has secured long-term energy contracts for EV charging with a cumulative value of more than USD 1 billion (approx INR 10,500 crore) across intercity electric buses, trucks and commercial car fleets. The contracted demand will underpin the next phase of CHARGEZONE's supercharging expansion, with the company planning to deploy 1000 new stations across the key national highway corridors. 

Across these contracted fleets, CHARGEZONE expects the new EV charging stations to support more than 15,000 EVs on a daily basis. Their predictable routes, higher charging frequency and recurring energy requirements across these segments give the company greater visibility into where and how much charging capacity will be required before infrastructure is deployed. 

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.” 

To support this expansion, CHARGEZONE has additionally secured USD 25 million (INR 250 crore) through Indian banks in debt financing and plans to raise an additional USD100 million during 2026-2027. The capital will be deployed towards new supercharging stations, micro-grid infrastructure, energy-management technology and the broader expansion of the network. The long-term fleet contracts provide greater visibility on future energy demand and utilisation, strengthening the investment case for new charging assets. 

The expansion will add 180 MW of charging capacity taking CHARGEZONE's cumulative network capacity from the current 120 MW to 300 MW. At full deployment, the company expects to deliver approximately 700 GWh of energy annually, support more than 15000 charging sessions per day, and operate at an average network utilisation of approximately 30 percent, up from CHARGEZONE's current utilisation of 14 percent. 

Unlike network expansion based primarily on projected EV traffic, CHARGEZONE's next phase of deployment is being anchored in long-term fleet demand. Commercial fleets such as buses and trucks operate on more predictable routes and consume significantly more energy per vehicle, giving CHARGEZONE clearer visibility into expected throughput at a station before capital is deployed. This demand-backed approach is designed to improve utilisation and strengthen the economics of each new charging asset. 

As part of the expansion, CHARGEZONE continues to integrate renewable energy sources, including solar power generation and Battery Energy Storage Systems (BESS), across its high-speed charging infrastructure to increase the share of renewable energy used for charging, manage peak power requirements and strengthen site-level energy resilience.