Companies

Magenta Power in talks with original equipment manufacturers, others to deploy EV charging solutions

V Rishi Kumar Hyderabad | Updated on August 13, 2019 Published on August 13, 2019

Magenta Power is engaged in parleys with original equipment manufacturers (OEMs), State and Central Government agencies to deploy their India made electric vehicle charging stations and offer them its management solutions.

A Mumbai-based start up with focus on renewable energy and electric vehicle charging stations, Magenta Power has developed in house these charging stations that suit Indian conditions and is now in talks with various State Governments as well.

Maxson Lewis, Managing Director of Magenta Power, told Business Line the company has thus far deployed its solutions across seven cities and is now seeking to expand its presence across various cities. The company, which had had a tie up with HPCL, sees immense scope for these charging stations.

“If the demand is factored in, the EV charging infrastructure will require investment of about Rs 15,000 crore by 2025 as per conservative estimates. This could go up depending upon how the market grows from now,” he explained.

“The charging stations in India need to factor several other issues including heat management, humidity, harmonics and human interface in the local context. To address these we have developed these stations to suit different conditions and have made them robust,” Darryl Dias, Director of Magenta said. As the company seeks to expand its business, it is also engaged in talks with some potential strategic investors and partners which will enable them to achieve scale in operation.

Apart from standalone charging stations, Magenta has also developed and deployed solar powered EV stations that are suitable for places where the stations come up in remote locations. In addition to deployment in apartments, Magenta has also set up EV charging stations on the busy Mumbai-Pune highway.

While 80 per cent of EV charging stations are located at homes, offices, public places, malls among others, there is potential to set up standalone units powering them up with solar units, Lewis said.

Published on August 13, 2019
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