iCreate Facilitates Rs 2,250 Cr Investment Deal between Gujarat Govt, Charge+Zone to Set up 50,000 EV Chargers

iCreate has facilitated a partnership between its supported EV charging start-up Charge+Zone and Gujarat Government for investment worth Rs 2,250 crore ($300 Mn) in an endeavour to set up a network of un-manned, app-driven 10,000 charging stations within Gujarat on national and state highways, and scale it up to 50,000+ chargers to cover pan-India.

December 20, 2021. By Manu Tayal

Startup incubator iCreate has facilitated a partnership between its supported electric vehicle (EV) charging start-up Charge+Zone and Gujarat Government for investment worth Rs 2,250 crore ($300 Mn) in an endeavour to set up a network of un-manned, app-driven 10,000 charging stations within Gujarat on national and state highways, and scale it up to 50,000+ chargers to cover pan-India.

The MoU was signed between both the parties as part of the Investment Promotion Activity for the Vibrant Gujarat Global Summit 2022 with an objective to further electrify 10,000 kms of National and State Highways in the next 3-5 years with super-fast charging stations and will lay the foundation in creating a robust charging infrastructure model for the country, thereby helping enable e-mobility for the consumers.

Gujarat Government will facilitate Charge+Zone to obtain necessary clearances and approvals from the concerned departments of the State as per the existing policies of the State Government.

Commenting on the development, Anupam Jalote, CEO of iCreate, said “when PM Modiji was conceptualising iCreate as an engine of producing job creators, he might have had Baroda’s Kartikey Hariyani in mind! Kartikey’s own brilliant insights and drive, coupled with iCreate’s incubation support (starting in early part of 2019) helped him create Charge+Zone - a company that has gone on to become the reference point in the EV Charging industry. The founders of iCreate, it's Chief Mentor Parag Amin and I, all are very proud that a start-up that was an idea in the summer of 2018 is now strong enough to help make the State of Gujarat a leader in Indian EV Charging infra. This vindicates iCreate’s vision of being the place to be for tech innovators. This MoU with the Government of Gujarat coupled with the very successful magnetless EV motor project with Sona Comstar and our EVangelise EV Innovation program have made iCreate a reference point for EV innovators in India.”

The national and state highways would be deployed with super-fast charging stations.

Commenting on the announcement, Kartikey Hariyani, Founder & CEO of Charge+Zone, said, “It is an honour for us to partner with the Government to electrify the roadways with EV charging points in the country. With this, we have taken a step closer towards achieving our mission of setting up one million charging points in the country and consequently, accelerating the adoption of EVs in the country. Having achieved this milestone, I would like to extend a big token of gratitude to iCreate for empowering us with the required resources and representing us with various stakeholders in Government PSUs, Central Government as well as state Government to achieve our mutual mission to revolutionize the EV industry.”
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