1. Jio-BP to install EV charging stations at Nexus Malls in 13 cities.
Jio-BP has signed an agreement with Nexus Malls to install EV charging stations at 17 malls in 13 cities. These charging stations will be open 24/7 for 2 & 4-wheelers. Battery swapping facilities will also be available. In the 1st phase, Jio-BP Pulse EV charging stations will be installed at Nexus properties in Navi Mumbai, Bangalore, Pune, Hyderabad & Ahmedabad. These charging stations will also reflect on the Jio-BP Pulse mobile app.
2. Electric two-wheeler manufacturer ‘Komaki’ to set up charging points across the country.
EV maker ‘Komaki’ has allocated Rs.25 crore to set up charging points in the next 18 months. The company claims it will be the largest P2P (peer-to-peer) EV charging network equipped with smart features. Komaki will be offering two EV charging point options to its consumers for free, on purchase of any electric vehicle. The customers will be able to deploy these charging points anywhere as per their preference. These chargers will be capable of charging any type of EV (2,3 & 4-wheeler) and the customer will also be able to make a profit out of it. The concept is already in testing phase and Komaki aims at further spreading its EV charging network.
Ankita Sharma, Head of Sales & Marketing, Komaki said, “EV owners will be able to track the nearest charger using Komaki mobile app. It is an earning opportunity as well. Customers, by making their charger public, can earn as per booking.”
3. Okinawa launches a huge manufacturing plant in Rajasthan.
Electric scooter manufacturer ‘Okinawa’, has announced its new manufacturing plant, a huge facility in Karoli, Rajasthan, with a capacity of 1 million units a year!
This will be Okinawa’s third plant. It will be spread across 30 acres and will provide employment to more than 5000 people. Okinawa has announced an investment of Rs.500 crore for this facility and expects it to be fully operational October 2023 onwards.
Last month, Okinawa signed an agreement with Tacita, an Italian company which manufactures electric motorcycles. The joint venture will be based in India and will begin production from next year.
4. Tata Power installs 150 ‘green’ EV charging stations in Mumbai.
Tata Power has installed 150 clean energy-powered EV charging stations across Mumbai
These stations have been set up across residential societies, malls, commercial buildings & petrol pumps in Mumbai.
These charging stations are powered by renewable energy sources like wind, solar and hydropower.
5. Stock expert names 2 EV charging stocks listed in global exchanges as best bets.
B.Riley Securities, a US-based financial research & advisory firm has named 2 stocks in the EV charging market with potential for significant gains in next 1 year.
Tritium DCFC Limited:
Tritium is an Australia-based company in business since 2001. The company focuses on DC fast chargers, manufacturing both the software & hardware for these advanced EV charging systems. The company has around 7000 fast chargers in operation in more than 41 countries. Tritium has recently announced a multi-year contract with energy major BP, to provide chargers and support services for BP’s EV charging network. The initial order under this contract includes 1000 charging stations in the UK, Australia & New Zealand. Tritium also announced a contract to provide 250 chargers to UK’s ‘Osprey Network’, a fast-growing player in the British fast-charging sector.
B.Riley Securities said, "As Tritium's charging network grows, we believe revenue from recurring software & service is likely to scale to become meaningfully profitable. We see the company's hardware sales model as providing better operating leverage than peers.” With this upbeat outlook, the firm set a ‘Buy’ rating on Tritium shares and a $12 price target that indicates an 89% upside in the coming 12 months. Tritium shares are currently priced at $6.34.
Beam Global:
Beam Global provides a range of power products for use in EV charging and battery storage. The company’s most prominent product is the EV ARC (Autonomous Renewable Charger), a standalone EV charger that operates ‘off the grid’, using solar panels to provide power. The company’s flexible approach to EV charging is its USP.
B.Riley Securities said, “While we expect the vast majority of the EV charging infrastructure to be connected to the grid, we also expect Beam to benefit from the faster deployment times of its off-grid solutions as municipalities, fleets & other players look to expand more quickly than red tape or grid availability typically allows."
Beam Global solutions are preferred on military bases and for local first responders for disaster preparedness. The company has a unique competitive advantage versus grid-connected solutions. The ability to charge via renewable energy sources and providing off-grid alternatives is core to the company’s approach. A ‘Buy’ rating has been given to Beam shares and a $23 price target, which indicates a 52% growth in the next 12 months. Current trading price of Beam shares is $15.09.
For complete EV charging solutions, explore the Kazam website.
