RoadGrid India has received ₹13 crore in government funding to build a manufacturing facility for its patented universal EV chargers. The plant, expected to start production by March 2027, will target an annual capacity of 2,000 units to support the country's growing electric vehicle charging network.
RoadGrid India, an EV charging technology firm, has finalized a funding agreement with the Technology Development Board (TDB) to expand its manufacturing capabilities. The TDB, acting under the Department of Science and Technology, will provide ₹13 crore as part of a total ₹27.5 crore project aimed at setting up a dedicated production facility for the company’s proprietary Universal EV Charger.
Project Timeline and Capacity
The upcoming manufacturing plant is scheduled to begin commercial operations by March 2027. Once fully operational, the site is planned to have an annual production capacity of 2,000 chargers. The company anticipates that this project will create over 100 jobs, aligning with broader national goals to boost domestic manufacturing of critical electric vehicle components. By focusing on localized production of power electronics, thermal management systems, and embedded software, RoadGrid aims to reduce its dependence on imported equipment for its charging solutions.
Business Model and Market Presence
Founded in 2020, RoadGrid develops both hardware and software for the EV charging ecosystem. Its charging platform is designed to handle both AC and DC charging, catering to a range of vehicles including two-wheelers, three-wheelers, and commercial cars. To date, the company has deployed over 100 chargers and manages more than 200 charging points in cities such as Mumbai, Indore, and Kolkata. The company counts major entities like Hindustan Petroleum Corporation Limited (HPCL), Indian Oil Corporation Limited (IOCL), and VinFast among its partners.
Sector Context and Growth Drivers
The move comes as India faces a massive requirement for charging infrastructure to support the rising adoption of electric vehicles. Industry estimates suggest that the country may need upwards of 400,000 public charging points by 2030 to meet demand. This projection provides a long-term growth opportunity for domestic manufacturers who can provide reliable, interoperable, and cost-effective equipment.
For investors, the immediate monitorables include the project’s execution timeline leading up to the 2027 production start date and the company's ability to manage the remaining capital requirement for the ₹27.5 crore facility. The firm recently raised ₹12 crore in a pre-Series A round, which may provide the necessary runway to support this ongoing expansion. The primary business risk for manufacturers in this space remains the intense competition from both domestic players and imported alternatives, which could impact pricing power and profit margins as the market scales.