Magenta, a leading EV charging company, successfully developed and installed Delhi’s first LEV AC EV charger under the state government’s plan, which allows for the construction of private EV chargers for a net cost of roughly Rs 2,375/- after subsidy. Keeping with the trend for home EV charging, which generally accounts for 70-80 per cent of worldwide charging demands, LEV AC chargers supplied by Magenta to Vasant Kunj residential community were recently inaugurated by the honourable transport minister – Shri Kailash Gahlot. In addition, Magenta has also installed multiple chargers in various areas of Delhi covering Vivek Vihar, Munirka, Dwarka, Jamia Nagar and Rohini. Magenta plans to install more than 100 chargers under the scheme by end of April 2022. Both business and residential enterprises can benefit from the scheme’s incentive to install these EV chargers. The company envisions a goal of installing 10,000 such chargers around Delhi to boost the EV infrastructure.
Magenta charger comes with an OLED display along with an easy-to-use Bluetooth based authentication system and is a smart solution that can be operated through the ChargeGrid BT mobile application by all EV users. It is an ideal low-cost Bluetooth based solution for EV users across all categories for their AC charging needs on regular basis. This charger has been designed with ‘Safety First’ principle in mind and is equipped with multiple protections to protect against electronic short circuits, over current, over-voltage, and ground fault. The low-cost AC charger also has several innovative features such as auto charging session resume in the event of power failure. These chargers are also extremely ‘Easy to Install’ and take up very little space as they can be placed on the wall or on a stand. Magenta has a three-year empanelment by three DISCOMs of Delhi to set up an EV charging station network across the capital.
Magenta is one of the leading EV Charge Point Operators (CPO) in the country creating a network of EV chargers for different customer segments under the brand – ChargeGrid. Magenta is also a manufacturer of AC EV chargers and has a portfolio of chargers that is custom-designed looking at the needs of different customer segments such as – Residential, Commercial and Fleet.
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, Magenta announced that it had closed its Series A funding by renowned Indian-American philanthropist, billionaire, and serial entrepreneur, Dr Kiran Patel.