Top 9 Companies in the India EV Charging Market, Supported by Rising Popularity of Electric Vehicles

The India EV charging market reached a volume of about 1.28 million units in 2023. The market is projected to grow at a CAGR of 22.20% in the forecast period of 2024-2032 to reach around 7.80 million units by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rising popularity of electric vehicles.

Electric vehicle (EV) charging involves supplying electricity to EV batteries using specialised charging equipment. This process supports both hybrid and fully electric vehicles and comes in different capacities, ranging from fixed stations to portable options. These charging stations, comprising various components such as power grids, chargers, and software platforms, connect EVs to electricity sources. They adhere to charging connector standards and contribute to reducing maintenance costs, environmental damage, and greenhouse gas emissions while promoting public health. Additionally, they offer various charging levels, aiding in monitoring vehicle emissions effectively.

The surging demand for electric vehicles is a key driver propelling India EV charging market growth. With their cost-effective long-term operation, electric vehicles are enticing an array of users to make the switch, driving their widespread adoption.

The evolution of electric vehicle charging technology is adding momentum to India's EV charging market growth. Innovations such as real-time spot availability updates and seamless slot booking, coupled with IoT integration into charging stations, are playing pivotal roles in driving market expansion.

In December 2023, Tata Power, through its subsidiary TPEVCSL, partnered with Indian Oil Corporation Limited (IOCL) to establish more than 500 EV charging stations nationwide. The collaboration aimed to integrate these stations into IOCL's retail outlets. IOCL aimed to transform its network into comprehensive energy solution hubs by deploying 10,000 EV charging stations by 2024. The charging points were strategically placed in major cities like Mumbai, Delhi, Kolkata, Bengaluru, Ahmedabad, Pune, Kochi, and along key highways including the Mumbai-Pune Expressway and Golden Quadrilateral.

Top 9 EV Charging Companies in India:

Tata Power

Formerly part of Tata Electric Companies, Tata Power is a leading technology adopter, driving India's energy independence. With an installed capacity of 14,294 MW and 39% from clean energy sources, it spans the entire power value chain. Notable partnerships include Powerlinks Transmission Ltd. and Maithon Power Ltd. It serves over 12.9 million consumers through Discoms and is expanding into distributed generation, EV charging, and smart solutions. With a 108-year legacy, Tata Power is positioned for significant growth, committed to sustainable energy and innovation.

Ather Energy

Amidst a significant technological shift, the automotive industry favours electric vehicles for their efficiency, shaping the future of urban transportation. Ather Energy, founded in 2013 by Tarun Mehta and Swapnil Jain, pioneers this transition with the Ather 450 series, India's first smart electric scooters. Blending clean design with advanced engineering, Ather offers a holistic ecosystem, including charging infrastructure and innovative ownership plans. Positioned uniquely in India's automotive landscape, Ather exemplifies the convergence of hardware and software in personal mobility solutions.

Delta Electronics India

Established in 2003, Delta Group in India, under Delta Electronics India Private Limited, is a prominent player in power and energy management. Operating across three key sectors power electronics, automation, and infrastructure the company boasts market leadership in various solutions including telecom, EV charging, and display. With a widespread presence facilitated by sixteen regional offices, three manufacturing units, and two R&D centres, Delta serves India with over 200 channel partners. It upholds quality standards with ISO certifications, contributing to its reputation as a reliable industry leader since its inception.

Charzera Tech Private Limited

Charzera Tech Pvt Ltd operates a network of EV charging stations, featuring Kirana Charzer, India's most cost-effective and adaptable electric vehicle charging solution. Registered under the Companies Act as a Private Limited Company, Charzera Tech is classified as a non-government entity, registered at RoC-Bangalore. With over 50,000 users and 1.6 Giga Wh total electricity consumption to date, the company serves 250+ locations. The diverse range of commercial, residential, and fast charging solutions, along with customisable charging management software, ensures optimal infrastructure management for the business needs.

Sharify Services Pvt Ltd

Statiq revolutionises EV charging with a smart ecosystem, offering seamless booking, payment, and a range of charging solutions for homes, public spaces, and commercial needs. As India's premier EV charging provider, Statiq envisions a greener future by expanding charging networks nationwide. Their advanced chargers, from 3.3 kW to 60+ kW, cater to all vehicle models, ensuring quick and convenient charging. With the Statiq EV charging app, users can easily locate, book, and pay for charging sessions.

TechSo ChargeZone Ltd

Charge Zone®, a global leader in integrated technology, unveils its playbook for Fleet Electrification (B2B) and Inter-City Retail EV Charging (B2C), aiming to deploy one million charging points by 2030. With a focus on reducing emissions and fostering green mobility, their network of electric bus charging stations across India is pivotal. Leveraging Grid-to-Vehicle (G2V) technology, their Charge Cloud platform offers unmanned, cashless charging experiences via smartphone apps. Charge Zone®'s mission extends to establishing 100,000 charging stations for diverse EV markets, emphasizing convenience and tech-driven solutions.

Alektrify Private Limited

Alektrify Pvt Ltd champions electric vehicle adoption, offering a comprehensive range of services from infrastructure development to industry advocacy. Established in India in August 2021, Alektrify Private Limited (APL) operates as a non-government entity registered with the Registrar of Companies in Delhi. With a steadfast commitment, APL ensures a seamless transition to electric mobility for stakeholders through its suite of services, including advisory support, ecosystem development, and strategic technology partnerships.

YoCharge

Yocharge, a digital platform facilitating smart charging for electric vehicles, empowers entrepreneurs and enterprises to establish, operate, and expand their EV charging businesses. Committed to advancing electric mobility, Yocharge aligns with global initiatives such as those outlined at COP26, aiming for all new vehicle sales to be zero-emission by 2040 globally and 2035 in key markets. By providing easy, safe, and cost-effective charging solutions, Yocharge accelerates the transition to electric vehicles, contributing to the reduction of global greenhouse gas emissions and combating climate change.

Jio-BP

Jio-bp, a collaboration between Reliance Industries Limited and BP, merges global expertise with local prowess to meet India's burgeoning energy and mobility needs. Through Reliance BP Mobility Limited (Jio bp), the venture aims to offer cutting-edge mobility solutions and convenience services to Indian consumers. Leveraging digital technologies like AI, drones, and blockchain, Jio-bp strives to dominate both fuel and non-fuel retail spaces, delivering unparalleled experiences through world-class assets and digital platforms, solidifying its position as the go-to provider of modern mobility solutions.