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Vakrangee plans electric vehicle (EV) charging network across India

Mumbai, India, Jan. 28 / PRNewswire / - The company will use the Nextgen Vakrangee Kendras to build the charging network for electric vehicles (EV).

Vakrangee operates 3,504 Nextgen Vakrangee Kendra Outlets in 19 states, 366 counties, and 2,186 zip code areas. More than 68% of the outlets are in fifth and sixth tier cities. The goal is to have at least 75,000 outlets by FY2021-22 and 300,000 by FY2024-25.

Vakrangee wants to use its broad presence to set up a charging network for electric vehicles via its retail network (Vakrangee Kendras). The range of services in the exclusive Nextgen Vakrangee Kendras is continuously being expanded.

For providers of electromobility in India, it makes sense to use the Vakrangee charging network instead of building their own. In addition, Vakrangee is building a large-scale charging infrastructure across India through its network of Nextgen Vakrangee Kendra Outlets.

Executive Chairman Dinesh Nandwana commented: "We are convinced that electromobility offers enormous growth potential in the coming years. We want to be well positioned for the future by building an India-wide charging network for electric vehicles. We are providing the distribution platform for EV filling stations through our partnership with EV Service providers ready. "

The government estimates that around 25 percent of all vehicles on the road will be electric by 2030. This presupposes that a close-knit EV charging network is created across the country (source: Ministry of Housing and Urban Development). The planning envisages that there will be a charging station at least every 25 km on roads and highways in both directions.

About Vakrangee Limited (BSE code: 511431) (NSE code: VAKRANGEE)

Established in 1990, Vakrangee is the only technology-driven company focused on creating the largest network of last mile retail stores in India, providing real-time banking and financial services, ATMs, insurance, e-governance, e-commerce and To be able to provide logistics services for the rural, semi-urban and urban markets that are not served. The Assisted Digital Convenience Stores are called "Vakrangee Kendra" and act as a "one-stop shop" for various products and services.

Vakrangee is listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and has a market capitalization of Rs.38.19 billion.

Further information can be found at: https://vakrangee.in/

Media contact:
Nurse Sabarwal
Chief Corporate Communications & Strategy Officer [email protected]