BOLT, an EV infrastructure provider and Park+, a leading parking aggregator have announced a joint collaboration to set up 45,000 EV charging points across housing societies, corporate offices, tech parks and in the public domain across India in the next 3 years.

The BOLT– Park+ partnership will provide EV users access to charging infrastructure at multiple touch-points and meet all EV needs through one single app, the companies jointly said in a statment.

The partnership will also help commercial establishments, residential apartments, tech parks and public parking spaces to provide an affordable EV charging solution in their premises. With this partnership, BOLT plans on providing its EV charging infrastructure to more than a million users of Park+ in 20 Indian cities over the next 5 years.

One stop solution

The BOLT–Park+ collaboration is a one-stop EV charging solution for various stakeholders including EV users, real estate owners and charging infrastructure providers. Under the partnership, BOLT will be integrated within the Park+ App and will address all the needs of an EV user, from locating a charging station, booking a slot to payment. Once BOLT charging stations are installed, Resident Welfare Associations (RWAs), corporates and parking lot owners can choose between private/public mode of operation for their charging stations and decide on the price depending on existing commercial/EV tariffs.

Revenue from idle spaces

Parking lot owners can reduce idle spaces in their parking lots and generate additional revenue by upgrading their existing parking spaces to accommodate EV charging functionality. The BOLT charging network is hardware agnostic and can be integrated with any charging solution providers in the country. The BOLT OS comes pre-installed in many EVs and BOLT’s revolutionary vehicle to charger connectivity (V2C) will enable a seamless fastag like EV charging experience for EV users.

4 lakh charging stations needed for 2m EVs

According to a recent IEA report, almost 90% of the chargers worldwide are private light-duty vehicle slow chargers in homes, apartment buildings and workplaces. The Indian EV market is expected to grow at a CAGR of 36% till 2026, according to an IESA report, which indicates that India needs 4,00,000 charging stations to meet the requirement for two million Electric Vehicles (EV) that could potentially ply on its roads by 2026. With the introduction of the new guidelines by the Government of India allowing owners of electric vehicles to charge their vehicles at home, BOLT envisions enabling EV charging in all spaces where vehicles are generally parked with the electrification of parking lots being a major focus area.

BOLT is one of the largest peer-to-peer charging network, comprising the universal BOLT charging point and the BOLT operating system. Park+ is an app for car owners with access to all key elements which make their car ownership experience hassle-free – including parking, car health and maintenance, car insurance, FASTag, PUCC, traffic challans and more.

45K parking spaces in next 3 years

Jyotiranjan Harichandan, Cofounder, BOLT, commenting on the tie-up, said, “This partnership will incentivise high-footfall parking spaces by providing an affordable and easy-to-access EV charging infrastructure for various stakeholders including EV users, infrastructure providers and public parking owners. With the increasing adoption of electric vehicles coupled with various incentives from the Government of India, BOLT aims at electrifying 45,000 parking spaces over the next three years in the country. We are excited about our journey with Park+ and look forward to providing a fast, cost-effective, easy and simple charging infrastructure solution.”

Removing biggest roadblock

Amit Lakhotia, Founder & CEO, Park+ in his comments, said, ““We are delighted to partner with BOLT to bring a convenient and economical EV charging solution to corporate parks, shopping malls and residential apartments. The partnership will help remove the biggest roadblock in widespread EV adoption i.e. easy and quick access to charging infrastructure. Park+ and EV users will now be able to charge their EVs with ease anytime and anywhere. We are bullish that this partnership will help India towards its journey of being a cleaner and greener country.”