Everta Expands Its Vision for EV Charging Infrastructure
Everta, a prominent electric vehicle (EV) charger manufacturer, has unveiled its ambitious plans to introduce its first range of DC fast chargers by the end of December 2025. As part of its growth strategy, the company is set to invest Rs 250 crore over the next two years, aiming to scale up its production capacity to 3,000 DC chargers annually by 2027 at its manufacturing facility in Bengaluru.
Future Goals and Market Targeting
Everta’s long-term vision includes capturing a 15% share of India’s DC charging market by 2030, with an estimated market size of around 800,000 chargers by the end of the decade. Benny Parihar, Managing Director of Everta, emphasized the company’s commitment to achieving this goal. The company will initially offer DC chargers ranging from 60 kW to 320 kW, catering to electric cars, buses, and trucks.
Everta’s initial focus will be on serving charge point operators (CPOs), fleet operators, bus depots, and automotive OEMs. The company is already in discussions for strategic partnerships across these segments. Manasvi Sharma, CEO of Everta, highlighted that utilisation rates for DC chargers vary widely depending on the application. “On average, utilisation at CPOs is around 10%, while it is significantly higher—close to 80%—in bus depots,” she said, noting that initial demand is expected to come from public transport operators and CPOs.
Government Incentives and Schemes
Sharma also pointed out that government incentives are making the EV charging sector increasingly attractive, particularly for the electric bus segment. Under the PM e-Bus Sewa scheme, the Ministry of Heavy Industries (MHI) has allocated ₹2,000 crore for the installation of 72,300 public EV chargers across the country, including 1,800 dedicated chargers for electric buses.
The PM E-DRIVE scheme, launched in 2024 with an outlay of Rs 10,900 crore, aims to accelerate the adoption of electric mobility in high-density urban centres. Out of this, Rs 4,391 crore is earmarked for e-bus procurement. The initiative also includes plans for installing 1,800 fast chargers.
Strategic Collaborations and Localisation Efforts
To bolster its capabilities, Everta has entered into a Technology Licensing Agreement (TLA) with global charging infrastructure company StarCharge, which has deployed over 2 million chargers in 60 countries. This partnership will allow Everta to manufacture, install, and provide service support for its DC chargers across India. Additionally, the company has formed a strategic alliance with Epsilon, a manufacturer of anode and cathode battery materials.
As part of its localisation drive, Everta plans to achieve over 50% domestic value addition in the short term, with an eye to increase it in the coming years. Currently, Indian EV charger manufacturers rely heavily on imported components, particularly power modules, rectifiers, semiconductors, and other critical electronic parts. A large portion of these components are imported from countries like China, Taiwan, South Korea, and Germany.
Diversification and Future Expansion
While the primary focus remains on DC fast chargers, Everta is also considering expanding into AC chargers and energy storage systems in the future, reflecting the company’s long-term commitment to EV infrastructure growth in India. According to the Bureau of Energy Efficiency (BEE), there are 26,247 public charging stations across the country, of which approximately 80% are AC chargers.
Everta’s initiatives mark a significant step towards building a robust and sustainable EV charging ecosystem in India, aligning with the nation’s broader goals of promoting clean energy and reducing carbon emissions. With strategic investments, collaborations, and a clear roadmap, Everta is well-positioned to play a pivotal role in shaping the future of electric mobility in the country.
