1. Statiq to supply EV charging stations to Indian Oil.

Gurugram-based EV charging company Statiq has bagged a contract to supply 18 EV chargers to Indian Oil for installation at various locations in the country. Indian Oil plans to set up these chargers (comprising 30kW & 60kW for electric four-wheelers) at prime locations within its petrol pump network. Previously, Indian Oil had awarded a contract to Ahmedabad-based Tirex to supply 25 EV chargers.

Statiq raised over Rs 200 crore in Series ‘A’ funding in June 2022. The company has teamed up with Hero Electric and also tied-up with Ather to expand their combined EV charging network in North India.

2. New EV charging stations to come up in Shimla.

The Shimla Municipal Corporation will set up five EV charging stations in the city. Following Chief Minister Sukhvinder Singh Sukhu’s announcement to replace all conventional government vehicles with electric ones as part of the efforts to make the state pollution-free, there is an urgency to build the necessary EV charging infrastructure. The municipal corporation has shortlisted five sites for setting up the charging stations. Rajasthan Electronics & Instruments Ltd, Sunfuel Electric and Energy Efficiency Services Ltd (EESL) will set up these stations at different places in the city. These companies will supply, operate & maintain these charging stations and share the revenue with the civic body as per agreement.

3. EV charging startup ‘Plugzmart’ raises seed funding.

Chennai-based ‘Plugzmart’, an IIT-Madras incubated EV charging startup, has raised Rs 3.63 crore in seed funding and plans to use the funds for R&D and ramping-up production. Plugzmart, headquartered at IIT Madras Research Park, is an OEM of EV chargers and has built its own IoT-enabled Charging Management System (CMS) to integrate and communicate efficiently with chargers. Their portfolio includes AC, DC and portable chargers for electric two, three & four-wheelers.

4. Vedanta brings an EV policy for employees.

Vedanta has introduced an EV policy for its employees, under which incentives would be given on purchase of electric two-wheelers and electric cars. This policy will be applicable on employees across all locations. The incentives will range from 30 to 50%. This new EV Policy will come into effect for vehicles bought December 2022 onwards. As part of its commitment towards Net-Zero Carbon, Vedanta has pledged 100% of the company’s light motor vehicles to be decarbonized by 2030.

5. Ahmedabad-based ‘iCreate’ planning to launch a B2B marketplace for EV components.

Ahmedabad-based startup incubator ‘iCreate’ is planning to launch a B2B marketplace website (similar to IndiaMART) for the electric mobility sector. The platform will enlist India-made products integral to building an electric vehicle and smaller parts used to build components of an EV. The website plans to offer a space for companies manufacturing EV parts to list their products such as battery packs, battery management systems (BMS), motors, onboard chargers, etc. The only condition for listing is that the products have to be completely designed & manufactured in India.

Every product listed on the platform will be assessed by iCreate and will have to meet the AIS standards prescribed by the government. The companies wanting to be enlisted must have to be at least at the seed stage and show some level of market traction (quantitative evidence of market demand) for their products. Users or buyers of the products on the website will also be able to write reviews. iCreate hopes to launch the platform by February 2023 and enlist at least 1000 companies.

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