Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Chargeup’s Goal: 25,000 Drivers In 17 Cities By 2025, Prioritizing Smaller Cities

- Advertisement -

Chargeup, the forefront battery financing and comprehensive EV asset management platform in India, is on a mission to integrate 100,000 drivers within the upcoming three years, aiming to broaden its influence to a million drivers across 30 cities over the next five years.

With a current presence in 13 cities, Chargeup is poised to strengthen its network by inaugurating 1,500 new partner stations within these locales, particularly emphasizing Delhi and Jaipur, while also venturing into four more Tier-II and Tier-III cities, thereby cementing its footprint in Haryana and Uttar Pradesh. This strategic expansion is intended to improve driver access to EV infrastructure, propelling the widespread embracement of electric vehicles from the ground up.

Varun Goenka, CEO and Co-Founder of Chargeup shared his thoughts on the company’s journey, highlighting that while they have achieved significant milestones and growth, the real victory lies in the positive changes they’ve brought to drivers’ lives. Chargeup continues to be committed to reshaping the electric vehicle sector, providing drivers with better credit options and quicker service times, and establishing new standards for service dependability and availability. At the core of Chargeup’s strategy is a focus on the driver, with every decision aimed at enhancing their earning potential and altering the way they engage with the electric vehicle ecosystem.

- Advertisement -

While electric vehicles are heralded as the vanguard of innovation, several challenges hinder their widespread adoption. The high interest rates, averaging 34%, present affordability issues for potential owners. Moreover, the uncertainty regarding the resale value of EVs, the cautious stance of financial institutions, and concerns over battery-related risks slow down market acceptance. Chargeup distinguishes itself with its lightweight asset model and cutting-edge AI/ML-powered data centres, offering resolutions to these challenges.

Chargeup’s Battery as a Service (BaaS) framework has demystified the complexities of battery management, transitioning from capital expenditure to operational costs and optimizing driver operations. Those utilizing Chargeup’s services have witnessed a substantial 52% surge in monthly income, amounting to an additional annual earning of over INR 2 lakh per driver. The company’s triumph is credited to its innovative, driver-focused ecosystem strategy, which fosters collaboration among various stakeholders to deliver a comprehensive, integrated solution to last-mile drivers.

Furthermore, Chargeup has notably improved the credit profile of drivers through sophisticated digital background checks, KYC processes, and digital loan underwriting. This advancement has facilitated more accessible vehicle ownership with extended loan durations and reduced initial payments, ensuring that the Total Cost of Ownership (TCO) remains economical.

- Advertisement -

Most Popular Articles

Aryaman Raghuvanshi
Aryaman Raghuvanshi
Aryaman Raghuvanshi is a Journalist at EFY. His passion is to explore the future of mobility, which gets him to cover latest technologies shaping the future of automobiles and EVs. But, at times he writes on broader technologies too. LinkedIn: https://www.linkedin.com/in/aryaman-raghuvanshi-2431b7153

Chris Stori Joins Bright Machines As Its New CEO

0
Aiming to excel in AI infrastructure, robotics firm Bright Machines has named Chris Storiits as the new leader. His role as a CEO is...

Ford Discusses EV Production In India: Tamil Nadu Minister T.R.B. Rajaa

0
Ford Motor Co. is contemplating the production of electric vehicles at its plant in Tamil Nadu, southern India, signalling a potential return to the...

EV Sales Mounts To 148,539 Units In H1 Of 2024-25

0
Although the sales graph has increased, on a monthly basis, the escalation is just 1.22 per cent. Amid numerous strategies, coupled with investments and subsidies...

BEL, ISRO Research Hub Partner To  Enhance Satellite Communication Technology

0
Supercharging indigenisation in defence and space, Bharat Electronics Limited and ISRO's SAC have joined forces to produce travelling wave tube amplifiers in India.  Bharat Electronics...

It Is Urgent To Protect Consumer Electronics Component Makers In India With Tariff Barriers

0
The biggest challenge is that the price of manufacturing the components in India becomes much higher than that of sourcing them from China. Industry leaders...
Dileep Jain CEO, Rajguru Electronics

Why Did Rajguru Electronics, A Leading Distributor Of Components And Development Boards, Enter Manufacturing?

0
After nearly three decades in distribution, Rajguru Electronics pivoted to manufacturing, setting up a unit for its ADIY subsidiary in Bengaluru. EFY’s Yashasvini Razdan...
Minushri Madhumita, Co-Founder of ThinkRaw India

“We Are Enhancing Aquaculture and Agriculture Efficiency With Our Solar Powered Innovations” – Minushri...

0
In a conversation with EFY’s Nitisha, Minushri Madhumita, Co-Founder of ThinkRaw India, discusses the company's solar initiatives aimed at revolutionising the agricultural sector. Q. Can...
Tanvir Singh, Co-Founder of Mooving

“Battery And Vehicle OEMs Will Be Partners On One Side, Competitors On The Other”...

0
With what is being touted as the ‘Shift of the Century’ in the automotive segment, the business models are evolving too! Does that mean...
Alok Das, Co-Founder, Qargos

“Europe’s Going To Be A Big Market For Indian E2Ws” – Alok Das, Co-Founder...

0
Europe is becoming a hub of investments in the automotive industry, with numerous Indian companies joining the fray. The question arises: will Europe follow...
Rahil Gupta, Co-Founder of Hop Electric

“EV Battery Prices Will Drop By 80% In Next Five Years” – Rahil Gupta,...

0
As the global electric vehicle market finds itself in a tough spot, India’s use cases of electric two-wheelers and three-wheelers have come to the...

Think Raw India’s Solar Solutions for the Agricultural Sector

0
ThinkRaw’s blend of technology and tradition is revolutionising agriculture with solar-powered solutions that enhance efficiency and sustainability in farming and aquaculture. established in 2016 by...

Starya Mobility: Shifting Gears From Developing Motors Towards Retrofitting

0
Starya Mobility, a Bengaluru-based startup, evolved from developing EV components to retrofitting scooters, is adapting to India’s dynamic electric vehicle market. Starya Mobility, established in...

Dhruv Vidyut’s Retrofit Kit Converts Normal Vehicle Into EV

0
Innovation begins with simple ideas. Curious how a basic bicycle can become an electric vehicle? Dhruv Vidyut’s retrofit kit is quietly leading this transformation. The...
Minushri Madhumita, Co-Founder of ThinkRaw India

“We Are Enhancing Aquaculture and Agriculture Efficiency With Our Solar Powered Innovations” – Minushri...

0
In a conversation with EFY’s Nitisha, Minushri Madhumita, Co-Founder of ThinkRaw India, discusses the company's solar initiatives aimed at revolutionising the agricultural sector. Q. Can...
InCore Co-founders (L to R): Arjun Menon (Chief Engineer), G.S. Madhusudan (CEO), Neel Gala (CTO), and Gautam Doshi (Chief Architect)

InCore Unveils Six-Core RISC-V Test Chip To Accelerate Design Adoption

0
InCore Semiconductors has introduced a six-core RISC-V test chip that utilises the company’s proprietary generator technology to build its flexible architecture, allowing for the...

Industry's Buzz

Chris Stori Joins Bright Machines As Its New CEO

0
Aiming to excel in AI infrastructure, robotics firm Bright Machines has named Chris Storiits as the new leader. His role as a CEO is...

Ford Discusses EV Production In India: Tamil Nadu Minister T.R.B. Rajaa

0
Ford Motor Co. is contemplating the production of electric vehicles at its plant in Tamil Nadu, southern India, signalling a potential return to the...

EV Sales Mounts To 148,539 Units In H1 Of 2024-25

0
Although the sales graph has increased, on a monthly basis, the escalation is just 1.22 per cent. Amid numerous strategies, coupled with investments and subsidies...

BEL, ISRO Research Hub Partner To  Enhance Satellite Communication Technology

0
Supercharging indigenisation in defence and space, Bharat Electronics Limited and ISRO's SAC have joined forces to produce travelling wave tube amplifiers in India.  Bharat Electronics...

It Is Urgent To Protect Consumer Electronics Component Makers In India With Tariff Barriers

0
The biggest challenge is that the price of manufacturing the components in India becomes much higher than that of sourcing them from China. Industry leaders...

Learn From Leaders

Dileep Jain CEO, Rajguru Electronics

Why Did Rajguru Electronics, A Leading Distributor Of Components And Development Boards, Enter Manufacturing?

0
After nearly three decades in distribution, Rajguru Electronics pivoted to manufacturing, setting up a unit for its ADIY subsidiary in Bengaluru. EFY’s Yashasvini Razdan...
Minushri Madhumita, Co-Founder of ThinkRaw India

“We Are Enhancing Aquaculture and Agriculture Efficiency With Our Solar Powered Innovations” – Minushri...

0
In a conversation with EFY’s Nitisha, Minushri Madhumita, Co-Founder of ThinkRaw India, discusses the company's solar initiatives aimed at revolutionising the agricultural sector. Q. Can...
Tanvir Singh, Co-Founder of Mooving

“Battery And Vehicle OEMs Will Be Partners On One Side, Competitors On The Other”...

0
With what is being touted as the ‘Shift of the Century’ in the automotive segment, the business models are evolving too! Does that mean...
Alok Das, Co-Founder, Qargos

“Europe’s Going To Be A Big Market For Indian E2Ws” – Alok Das, Co-Founder...

0
Europe is becoming a hub of investments in the automotive industry, with numerous Indian companies joining the fray. The question arises: will Europe follow...
Rahil Gupta, Co-Founder of Hop Electric

“EV Battery Prices Will Drop By 80% In Next Five Years” – Rahil Gupta,...

0
As the global electric vehicle market finds itself in a tough spot, India’s use cases of electric two-wheelers and three-wheelers have come to the...

Startups

Think Raw India’s Solar Solutions for the Agricultural Sector

0
ThinkRaw’s blend of technology and tradition is revolutionising agriculture with solar-powered solutions that enhance efficiency and sustainability in farming and aquaculture. established in 2016 by...

Starya Mobility: Shifting Gears From Developing Motors Towards Retrofitting

0
Starya Mobility, a Bengaluru-based startup, evolved from developing EV components to retrofitting scooters, is adapting to India’s dynamic electric vehicle market. Starya Mobility, established in...

Dhruv Vidyut’s Retrofit Kit Converts Normal Vehicle Into EV

0
Innovation begins with simple ideas. Curious how a basic bicycle can become an electric vehicle? Dhruv Vidyut’s retrofit kit is quietly leading this transformation. The...
Minushri Madhumita, Co-Founder of ThinkRaw India

“We Are Enhancing Aquaculture and Agriculture Efficiency With Our Solar Powered Innovations” – Minushri...

0
In a conversation with EFY’s Nitisha, Minushri Madhumita, Co-Founder of ThinkRaw India, discusses the company's solar initiatives aimed at revolutionising the agricultural sector. Q. Can...
InCore Co-founders (L to R): Arjun Menon (Chief Engineer), G.S. Madhusudan (CEO), Neel Gala (CTO), and Gautam Doshi (Chief Architect)

InCore Unveils Six-Core RISC-V Test Chip To Accelerate Design Adoption

0
InCore Semiconductors has introduced a six-core RISC-V test chip that utilises the company’s proprietary generator technology to build its flexible architecture, allowing for the...