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Thursday, June, 30, 2022

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Press Release

BOLT and SpareIt to Build India’s Largest EV Ready Garage Network


                            Bengaluru, Karnataka, India:
                         <a rel="nofollow noopener" target="_blank" href="">BOLT</a>, an All-in-One EV Infrastructure Provider, and <a rel="nofollow noopener" target="_blank" href="">Sp</a><a rel="nofollow noopener" target="_blank" href="">areIt</a>, India's largest automotive aftermarket multi-sided platform, have partnered to offer charging infrastructure to EV users across the country. The BOLT-SpareIt partnership will set up 500 BOLT chargers in 15+ cities across India including Bengaluru, Mysore, Hubli, Belgaum, Goa, Hyderabad, Kerala, Ahmedabad, Surat, Pune, Mumbai, Delhi, Gurgaon, Noida and more in the next 1 year. The partnership will enable a smooth and increased EV adoption process by bringing charging stations to garages thereby combating range anxiety faced by EV consumers. Together, the companies plan to install the BOLT EV charging solution exclusively in 10% of SpareIt garages in the next 24 months in India.

This is the first large-scale implementation of EV charging infrastructure across garages which will offer EV users easy access to charging points for the duration of servicing their vehicle. This will ensure that all EV users have a smooth and enjoyable experience. With over 7000+ garages across 8 cities in India, every OEM (Original Equipment Manufacturer) SpareIt partners with, will have access to BOLT charging points. As a part of this partnership, BOLT will be integrated into the SpareIt app for the discovery of SpareIt EV garages with charging points, removing the need to download any additional apps. Consequently, SpareIt will have the flexibility to decide the price for each charging session per hour based on their consensus and the electricity charge in the respective geographical locations of the garage and the charge points. The BOLT charging network is hardware agnostic and can be integrated with any charging solution provider in the country. The BOLT OS comes pre-installed in many EVs and BOLT’s revolutionary vehicle to charger connectivity (V2C) will enable a seamless fastag like EV charging experience for EV users.
According to a report by NITI Aayog, the cumulative investment in India’s electric vehicle (EV) transition could be as large as INR 19.7 lakh crore ($US266 billion) between 2020 and 2030, highlighting the need for higher liquidity and lower cost of capital for EV assets and infrastructure. The Ministry of Power’s guidelines say that there should be at least one EV charging station every 25 km on both sides of a highway. The guidelines also recommend having at least one EV charging station for long-range and heavy-duty EVs, every 100 kms on both sides of a highway. By leveraging the power of collaboration in EV, BOLT envisions enabling EV charging in all garages where vehicles are serviced.
 BOLT is the world’s largest Peer-to-Peer charging network, comprising the universal BOLT Charging Point and the BOLT Operating System. Developed with the objective of building a strong EV charging infrastructure, it is India’s first dedicated network of IoT-enabled EV charging points connecting riders across the country. Made-in-India, BOLT is a universal charging point which is compatible with any portable charger that comes with EVs and works with the existing AC power supply everywhere. Thousands of BOLT charging points have already been installed across 100 different cities in India and 10,000+ live charging points, with an installed capacity of over 33000KW installed capacity and 50,000 active users.
Launched in July 2020, SpareIt is building the largest network of connected garages in the country. Their tech platform enables small and independent garages with easy access to spares sourcing, business management tools like job cards and invoicing, and training programs, preparing them for the future. With 7000+ garages across 8 cities in its network and growing, it aims to make 5000+ garages EV-ready. It currently has 100+ EV ready garages across Bangalore, Delhi, Hyderabad and 200+ charging points in the network. What SpareIt is doing is absolutely essential and has the potential to disrupt what traditional dealers / OEMs are doing.
 Supporting Quotes:
 Jyotiranjan Harichandan, Cofounder, BOLT
“We believe that providing EV charging infrastructure at service stations is an integral part of the adoption of EVs in India. We are pleased to collaborate with players in the ecosystem who can create a frictionless journey for EV customers. We would like to provide EV consumers with a frictionless journey from buying their EV to charging it. Our partnership with SpareIt will offer customers a robust and well-equipped service network of garages at the click of a button. Using BOLT we aim to decarbonise India by setting up the largest peer to peer EV charging network.”
 Roney Philip, Head – Strategic Alliances, SpareIt
“We are proud and excited to partner with BOLT to ensure faster adoption of EVs. Our vision is to build the largest EV Garages network and this partnership is a testament of how working together and leveraging one’s strengths is important for the ecosystem to work collaboratively. The Indian EV revolution is shaping up into a big movement, and this partnership offers a unique value proposition to support EVs and keep them running on the road.”About BOLT

BOLT was founded in 2017 by Mohit Yadav and Jyotiranjan Harichandan with the aim of making electric vehicles more accessible, smart, safe, and connected. BOLT is the World’s Largest Peer-to-Peer Charging Network, comprising the universal BOLT Charging Point and the BOLT Operating System. It is India’s first dedicated network of IoT-enabled EV charging points connecting riders across the country. The modular and customizable BOLT OS can be easily integrated into EVs.The start-up has raised $4.5 million in funding from Union Square Ventures & Prime Venture Partners, and has offices in Bangalore & Singapore.
 About SpareIt

SpareIt was founded in 2020 by Prashant Kamdar and Romi Chugh with the aim of disrupting the automotive aftermarket space using technology. SpareIt is India’s largest connected garages network comprising 2W, 3W and 4W garages on their platform. It has the first mover advantage in providing EV ready service hubs for OEMs and third party logistics companies and have partnered with a lot of EV OEMs. It is headquartered in Bangalore.

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Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.

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