Adani’s e-mobility arm invests over ₹100 cr for creating network of 3,400 EV charging points

ATEL is currently the number one Airport Charge Point Operator (CPO) in the country with presence across 21 airports with 100-plus charging points

In the last 18 months, Adani TotalEnergies E-mobility Limited (ATEL) has installed 3,400 EV charging points with an investment of about ₹100 crore and is now looking to expand the network by adding 2,000 more charging points this year.

In a short span, this fledgling subsidiary of Adani Total Gas Limited has positioned itself as the number one Airport Charge Point Operator in India and is currently setting up a network of EV charging points across the country.

During earnings call for the Q4, Suresh P Manglani, ED & CEO of Adani Total Gas Limited (ATGL) said, “ATEL has expanded its footprint now to 3,401 installed EV charging points, of which a total of 2,338 EV charging points have been energised and opened to the public. We are spread across 26 states and 230 cities.” A total of 1,759 charging points were commissioned in the last financial year.

The company invested little over ₹100 crore in the EV business in the last 17-18 months and is expected to invest further in expanding the network. “We will continue to invest ₹70-80 crore this current year.” The investments will be for an additional 1,500-2,000 charging points including the ones which are near the commissioning stage.

ATEL is currently the number one Airport Charge Point Operator (CPO) in the country with presence across 21 airports with 100-plus charging points awarded, the company said. “Last year we set up five EV charging points every day. It is an EBITA positive business for us,” said Manglani.

As far as utilisation of the EV charging network is concerned, the company had higher utilization on the B2B segment and a lower utilisation for the B2C segment.

“We are very optimistic on the developments happening on the policy-front with regard to EV. So, we are not building EV charging (infrastructure) for today. We are trying to make sure that we are building at all strategic points both for B2B and B2C segments,” the company official added.

According to Manglani, ATGL incurred a capex of ₹900-odd crore during the 2024-25 fiscal and is expected to invest a similar amount during the ongoing financial year.