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Union Square Ventures-backed REVOS has launched BOLT charging points which can be bought and installed by anyone in their shops, garages, commercial parking spaces etc.
BOLT charging points are compatible with any portable charger and work with the existing AC power supply at home and establishments. The charging points can be bought for a one time cost of ₹3,000 and opened up for public use for a charging cost decided by the owner. Initially, the company is offering BOLT charging points to buyers at a launch price of ₹1 from October 29, till the end of December.
Energy calculator
The charging units come with an energy calculator to monitor power consumption and payments can be made by the customer by scanning the QR code placed next to the charging point. Currently the company is not charging any other costs from the customers other than the initial cost of setting the charger.
Jyotiranjan Harichandan, co-founder of REVOS, told BusinessLine , “Theoretically, our charging points can fully charge any electric vehicle within one hour, it is just that vehicles don’t have the capacity to charge at that rate. We have some OEMs working with us who are able to fully charge their EVs in less than 30 minutes but there are also other EVs that take 3-4 hours to get charged. It depends on the EV’s battery technology and portable charger that the OEMs bundle with the bike.”
Pre-launch phase
In the pre-launch phase, the company has installed about 2,000 charging points across 60 cities in India with an installed capacity of over 3,600 KW. The charging points can be located by EV owners using the REVOS BOLT mobile app.
Mohit Yadav, cofounder, REVOS said, “A robust and pervasive charging infrastructure is key for rapid adoption of EVs in India. The PCO box revolutionised the telecom industry by making it available to the masses. BOLT is aiming to do the same for the EV industry by being ubiquitous; just like the yellow phone box, we envisage the green BOLT charging points in every nook and corner of the country.” The company has also built BOLT operating system, which is a patent-pending modular system that can be integrated with any EV to turn it into a smart and connected vehicle with features like anti-theft locking, find-my-bike tracking technology to prevent the EV from being stolen. BOLT OS has been deployed in 10,000 devices (EVs and charging points) with 30 OEMs across India, China, Vietnam, Nepal and Egypt.
Domestic, global launch
The company plans to soon launch in Europe and other parts of South-East Asia. In the next two years, REVOS aims to install more than 1 million BOLT charging points across 500 cities in India and other emerging markets.
REVOS was founded by Yadav and Harichandan in 2017. The company has raised $4.5 million in funding from Union Square Ventures and Prime Venture Partners and has offices in Bengaluru and Singapore.
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