Electric vehicle

Relux Electric Secures Rs 250 Crore for South India EV Charging Network Expansion

• ByStartupStory     |    May 11, 2024

EV charging infrastructure company Relux Electric has successfully raised Rs 250 crore from a consortium of private real estate and infrastructure investors. This infusion of capital, executed on a revenue-sharing basis and without equity dilution, marks a pivotal moment for Relux as it embarks on an ambitious plan to expand its charging network across the region.

Established in 2009, Relux Electric has outlined its intentions to utilize the newly acquired funds to establish 20 cutting-edge hyper-charging stations along key highways in South India over the next eight months. Dr. Karthikeyan Santharam, the Managing Director and CEO of Relux, emphasized the company’s commitment, stating, “Relux has identified land parcels in busy highways such as NH 44, NH 45, and NH 556. The company will procure lands and set up the charging stations, each occupying an area of 1 to 1.5 acres.”

These forthcoming charging stations are anticipated to cater to a diverse array of vehicles, with each station capable of accommodating up to 10 small to medium-sized cars, 10 high-end cars, two buses, and a truck simultaneously, as detailed by Dr. Santharam. Notably, the charging times will be optimized for various vehicle types, with three-wheelers able to recharge within 10 minutes and four-wheelers requiring 18 minutes for a complete charge.

Furthermore, Relux Electric is broadening its focus by venturing into charging solutions for fleet operators and commercial EV owners. Dr. Santharam elucidated on this expansion, mentioning, “Relux will soon launch a business unit to set up charging stations for fleet operators and commercial electric vehicle (EV) owners.”

In an effort to provide a holistic experience to customers, these charging stations will not only facilitate speedy vehicle charging but also incorporate shopping amenities and eateries within their premises, enhancing convenience for travelers and commuters.

Looking ahead, Relux is poised to forge partnerships with residential and commercial complexes, fleet operators, and travel agencies to facilitate the deployment of charging stations. The company is actively engaged in discussions with potential investors to explore further funding avenues for accelerated nationwide expansion.

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