A group of private real estate and infrastructure investors has provided INR 250 crore in project funding to Relux Electric, a firm that manufactures charging stations. Currently, 100 of the Relux Electric’s Charging Station expansion are only for use by private automobiles. These are mostly located along main roads and important metropolitan centres. By offering specialised AC charging stations, the company hopes to launch a new service vertical aimed at fleet operators and commercial cars.
Relux Electric’s managing director and CEO, Karthikeyan Santharam, described Relux Electric’s Charging Station 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 Relux Electric’s Charging Station expansion plan of the organisation 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.
Emphasizing the operational strategy, Santharam stated, “Our focus on maximizing utilization rather than solely expanding our network has enabled us to achieve operational profits from day one. Our in-house R&D and operations teams, coupled with our use of self-designed original equipment for charging stations, ensure minimal downtime and double the industry average asset utilization.”