Magenta, an Indian charge point operator (CPO) company, has signed a memorandum of understanding with the power discoms BSES Rajdhani Power Limited and BSES Yamuna Power Limited. This partnership aims to deploy innovative electric vehicle (EV) charging solutions in Delhi which will be customised to meet the needs of various consumer segments. Through this collaboration both organisations plan to collaborate on tackling current and future issues in the adoption of EV charging solutions. Further, challenges like low utilisation of EV charging stations and the impact of increasing EV penetration on the grid can be assessed and mitigated through the efforts of these companies.
Magenta Power has been setting up charging infrastructure under the brand name ChargeGrid. It was seed funded by Hindustan Petroleum Corporation Limited in 2018, incubated by Shell in 2019 and selected under the Microsoft Global Start-Up program in 2020. The company provides hardware and software solutions in the EV value chain from in-house designed charging hardware, charging software, charging & Installation services to technical consulting. Recently, the company announced its plan to set up the country’s largest public EV charging station in Navi Mumbai as part of its goal to provide 4,000 charging facilities by March next year. The station will have provisions for both fast charging, which is less than 45 minutes, as well as slow charging, under which vehicles may need to be charged overnight.