EV charging startup ElectriVa to install and operate 100 EVCS in Delhi
Electric vehicle charging startup ElectriVa has announced that it has secured the contract for installing and operating 100 EV charging stations in Delhi.
The contract awarded by the local urban bodies in Delhi consists of key locations such as South Ex, Lajpat Nagar, RK Puram, Dhaulakuan, Vasant Vihar among other major commercial areas on the ring road that crosses South Delhi.
ElectriVa is presently among the leading independent EV charging station operators in India. The company was set up earlier this year by New Delhi-based entrepreneur Sumit Dhanuka who has a background in renewable energy.
Dhanuka stated that the company is eyeing contracts from other government authorities and utilities as well.
"There are three priority areas for an EV charging company to grow. One is the contracts being awarded by municipal corporations for intra-city set-ups. The second is setting up infrastructure along key highways. The third is providing decentralized charging points at housing societies and RWAs. We're tapping all three segments and are eyeing almost 10x growth by the end of this fiscal," Dhanuka added.
Talking about ElectriVa's revenue model, Dhanuka said that the company will be concentrating on the core revenue aspect which is the charging fee. However, it will also be exploring several non-core revenue streams-given the availability of key locations.
The EV startup is yet to raise any funding. Dhanuka said that at the current scale, the business is likely to be self-sufficient. However, in the long run, the company may look at raising funds.
Dhanuka said that the company has by now finished the work of installing 10 stations along the ring road.
