GLIDA to invest Rs 1 bn by Mar 2024 for EV charging stations

GLIDA, the provider of electric vehicle charging infrastructure, announced on Wednesday that it intends to invest up to Rs 1 billion by March 2024 in order to increase the number of charging stations. The company, formerly known as Fortum Charge & Drive India, aims to raise its current total of 450 charging points to 1,000. Awadhesh Kumar Jha, the Executive Director of GLIDA, stated that they are currently operational in 16 cities and have set a target to expand their presence to 52 cities by 2025. He also mentioned that the company plans to invest Rs 900 million-Rs 1 billion by March 2024 to increase the deployment of charging points from 450 to 1,000. Jha added that GLIDA aims to achieve a one-third market share in EV charging infrastructure for electric 4W and electric bus segments by 2030. The new charging stations will be established in cities where the company is already operating, as well as in a few new cities such as Indore, Mangalore, Nashik, and Kolkata. Furthermore, the company plans to develop highway charging infrastructure. Regarding the rebranding, Jha explained that it is driven by their goal to establish a solid foundation for the seamless integration of electric mobility into mainstream transportation while prioritising the best interests and value proposition for customers. Also read: Hild Electric bags NTPC order for alkaline electrolysers FIVE becomes first hotel to obtain i-RECs in UAE