Magenta, an Indian Charge Point Operator (CPO) company and the state government of Tamil Nadu have signed a Memorandum of Understanding (MoU) to invest in building EV charging infrastructure in the state. Magenta will invest approximately Rs 2.5 billion as part of this agreement. The plant will focus on EV design, product development, and architecture standards in the e-mobility industry. The funds will be used mostly for R&D, manufacturing cutting-edge technology, and expanding the e-mobility company’s alternatives. The facility intends to build a strong supply-chain ecosystem in and around the region, as well as prepare Tamil Nadu for electric vehicles.
Earlier this month, Magenta launched six EV charging stations in Bengaluru, with locations including BTM Layout, Kudlu, Jigani, Vijaya Bank Layout, Yeshwantpura, and Mahadevapura. The EV charging hub, which has over 150 charge points, is connected to the Magenta ChargeGrid smart app (available on IOS and Android), which allows EV owners to monitor real-time EV charging station availability and book slots, as well as fleet operators to pay for EV charging online.
By the end of 2021, Magenta ChargeGrid wants to add nine more EV charging centres in Bengaluru. For third party last mile logistics, the company has partnered with a number of logistics and e-commerce companies, including Amazon India, Porter, Udaan, BigBasket, JumboTail, and others.