ChargeZone acquires Zerovolt’s Mumbai EV charging hub as sector consolidation gains pace

ChargeZone has acquired Zerovolt’s charging facility at Wadala in Mumbai in an all-cash deal, marking a significant step in the consolidation of India’s electric vehicle infrastructure market. The financial terms were not disclosed.

The site is Zerovolt’s flagship hub, catering primarily to heavy commercial electric vehicles including passenger buses and large fleet operators. The company, founded in 2022 by Harshdeep Singh Virk and Priyesh Joshi, has supplied charging services to Chalo Mobility, which operates electric intra-city buses.

ChargeZone, headquartered in Vadodara and backed by BlueOrchard Finance and British International Investment, manages over 13,500 charging points at more than 1,200 locations in India and the UAE. The company has set a target of 15,000 fast DC charging points nationwide.

“India’s EV ecosystem is entering a decisive growth phase, and the electrification of heavy commercial vehicles will be its true tipping point,” said Kartikey Hariyani, Founder and CEO of ChargeZone. “By acquiring Zerovolt’s flagship hub into our network, we are not only expanding our operational footprint but also reinforcing our commitment to building the backbone of sustainable transport for the country.”

Following the sale, Zerovolt will shift focus toward building an integrated EV platform for commercial fleets. The company plans to invest about ₹250 crore over the next two years to expand electrification services across logistics and transport operations.

“This acquisition is not just a validation of our early vision but also a stepping stone towards building a full-fledged electric mobility platform for heavy commercial vehicles,” said Harshdeep Singh Virk, Co-Founder of Zerovolt.

Co-Founder Priyesh Joshi said the deal creates the scale required to advance the company’s plans in commercial fleet electrification.

The acquisition comes as commercial EV adoption gathers momentum in India. Operators in logistics and heavy-duty transport are prioritising electrification to cut fuel costs and emissions.

Zerovolt has specialised in infrastructure for urban mobility, logistics hubs and industrial applications. It has also positioned its services for mining and intercity transport through integrated hardware and software support.

ChargeZone has stated an ambition of establishing one million charging points in the long term to support India’s EV transition. The Mumbai acquisition expands its network in one of the country’s largest transport hubs, while Zerovolt reallocates capital toward commercial fleet services. The deal reflects a wider trend in the EV infrastructure sector, where larger operators are consolidating assets while smaller firms focus on niche service models.