Magenta and BSES sign MoU to deploy EV charging solutions in Delhi
- Magenta in collaboration with BSES to deploy innovative EV charging solutions in the discom’s service area in Delhi.
- Magenta to deploy the customized charging solutions in the identified locations.
- Magenta to undertake the installation, operations & maintenance of EV charging solutions under the ChargeGrid brand.
- Founded in 2017; Magenta is one of the fastest growing Integrated EV solutions companies.
Magenta, a leading Indian Charge Point Operator (CPO) company, will be deploying innovative EV charging solutions in collaboration with BSES Rajdhani Power Limited and BSES Yamuna Power limited, prominent power distribution companies in Delhi. BSES has been forging partnerships to promote e-mobility in the national capital in line with the state and central government objectives to reduce pollution and achieve climate goals.
The EV charging solutions that will be deployed under this MoU will be customized basis the requirements of various segments of customers. The partnership between BSES and Magenta will help in faster reaching out to the various customers, thereby leading to faster fulfillment of the end customer’s EV charging solution requirements.
This partnership also provides a unique opportunity for both the entities to work towards addressing the present and future challenges in the deployment of EV charging solutions. Significant challenges, such as low utilization of EV charging infrastructure and the long-term impact of the increase in the number of EV users on the power distribution network can be analyzed and addressed through the work carried out under this partnership. Learnings from the implementation of new business models under this partnership will also help in improving and launching similar EV charging solutions and models in other parts of the country as well.
Magenta is one of the leading EV Charge Point Operators (CPO) in the country and is also manufacturing multiple high-quality EV chargers. Magenta’s charging solutions are mobile application enabled (OCCP based) and come with numerous other customer-friendly features. All charging stations to be deployed under this partnership will be managed and operated through Magenta’s in-house software application - “ChargeGrid”. This application enables the EV customers to continuously monitor electricity usage, track wallet amount deductions during charging sessions. The customers can also track the real-time availability of the chargers and approach the nearest available charging stations for a seamless charging experience.
Apart from this solution, Magenta has many firsts to its credit, which include the launch of Portable EV Charging Stations, India’s first EV Charging Corridor for Mumbai – Pune Expressway, and ChargeGrid App, an integrated and automated network of all charging stations on Mobile. Seed funded by HPCL in 2018 & incubated by Shell in 2019, Magenta is also backed by the Microsoft Startup Program to further strengthen its advanced technology platform for Electric Mobility. In 2020, Magenta had raised pre-series funding from JAN (JITO Angel Network) and LetsVenture. In May 2021, Magentaannounced that it had closed its Series A funding by renowned Indian-American philanthropist, billionaire, and serial entrepreneur, Dr. Kiran Patel.