Adani Group’s subsidiary engaged in the business of charge point operator and endeavors to create EV charging infrastructure in focus upon signing a Memorandum of Understanding (MoU) with MG Motor India to strengthen the EV charging infrastructure in India
With a market capitalization of Rs. 1,07,566 Crores, the shares of Adani Total Gas Limited were trading at Rs. 978, down 0.08 percent from its previous day’s close price of Rs. 978.80.
Adani Total Gas Limited’s wholly-owned subsidiary Adani TotalEnergies E-Mobility Limited has signed a Memorandum of Understanding (MoU) with MG Motor India to strengthen the EV charging infrastructure in India.
In terms of MoU, Adani TotalEnergies E-Mobility Limited (ATEL) will set up CC2 60 kW DC chargers at upcoming MG dealerships to bolster the charging network and enhance customer accessibility.
The joint collaboration to develop charging solutions for electric vehicle (EV) and value-added services to MG’s EV customers nationwide and will underpin India’s rapidly evolving EV ecosystem by helping build a robust and efficient charging infrastructure
The partnership will also provide a comprehensive solution encompassing supply, installation, commissioning, operations, and maintenance of charging infrastructure. In addition, a digital platform will be launched to facilitate a seamless customer experience, covering discovery, user authentication, charging, and billing settlement through a dedicated mobile application.
Under this strategic partnership, both parties shall explore the potential of integrating public charging stations across platforms by leveraging advanced application programming interfaces (APIs) to enhance network visibility and accessibility. This integration will offer increased accessibility and visibility to the Public Charging Station network and a seamless experience across the integrated network owned and deployed by both entities
Adani TotalEnergies E-Mobility Limited (ATEL) is a wholly-owned subsidiary of Adani Total Gas Limited, which is a joint venture of the Adani Group and TotalEnergies (France).
It is engaged in the business of charge point operator and endeavors to create EV charging infrastructure compatible with all prevailing electric vehicles in the country, thus facilitating AC and DC charging solutions
Adani Total Gas Limited is engaged in the business of city gas distribution, selling, and distribution of natural gas to domestic, commercial, industrial, and vehicle users.
Its revenue from operations grew by 4.52 percent from Rs. 1,106 Crores in Q3FY23 to Rs. 1,156 Crores Q3FY24, accompanied by profits of Rs. 150 Crores to Rs. 177 Crores.
Written by: Bharath K.S
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