Terra Charge, the electric vehicle (EV) charging infrastructure developer, has teamed up with GrEL Cabs, the all-electric ride-hailing service based in Pune.
Together, they are set to create a cutting-edge Park and Charge Facility in Hinjewadi, Pune.
As part of this collaboration, Terra Charge will set up 11 advanced EV chargers at the designated hub, ensuring a rapid charging experience for GrEL Cabs’ electric fleet. This Japanese technology integration will seamlessly match with GrEL Cabs’ electric vehicle models, minimizing downtime.
This strategic partnership aims to meet the fast-charging requirements of electric fleets, aligning with India’s ambitious EV30@30 goal, which strives for a 30 percent sales share for electric vehicles by 2030. Terra Charge’s contribution to the city’s EV charging infrastructure, with approximately 1894 charging stations, takes a step forward with this initiative.
By leveraging each other’s market expertise and networking capabilities, both companies aspire to expand their presence in India’s electric vehicle sector. Terra Charge, moving towards its goal of installing 1000 charge points by 2024 with an annual revenue target of USD 668,000, seeks to enhance its market presence while accelerating EV adoption.
Akihiro Ueda, CEO of Terra Charge, expressed his enthusiasm about the collaboration, stating, “Teaming up with GrEL Cabs aligns with Terra Charge’s mission of creating accessible EV charging infrastructure to support India’s EV initiative. By combining our expertise with GrEL Cabs’ market impact, we aim to overcome e-mobility challenges and drive India towards cleaner transportation.”
Sarthak Bansal, CEO of GrEL Cabs, highlighted the significance of the partnership, saying, “Our enduring collaboration with Terra Charge is a crucial step in providing our customers with a reliable and sustainable mobility solution. Equipping our green cab service with Terra Charge’s charging solutions is a strategic move to encourage wider EV adoption among cab riders and passengers.”
This collaboration builds upon Terra Charge’s previous successful partnership with GrEL Cabs near Pune airport, and both companies are eager to explore new opportunities for expansion in India’s rapidly growing EV market, which is currently experiencing a Compound Annual Growth Rate (CAGR) of 66.52 percent.
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