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Torrent Power shares show 2% increase after launch of EV charging stations

Three 60KW DC Fast chargers have been built by Torrent Power in Ahmedabad, one each at Prahladnagar, Naranpura, and Drive-In-Road
PrashantPrashant25-Jul-23 5:31 PM
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Torrent Power shares show 2% increase after launch of EV charging stations

After the business opened its first set of charging stations in Ahmedabad at 9:24 am on July 25, shares of Torrent Power traded higher by 2.3 per cent at Rs 617.95.


According to the firm, four

EV

charging stations have been installed in Ahmedabad, and two more are scheduled to be introduced in Surat soon. Additional cities will also likely be added soon. The business has joined hands with Siemens to work together to create the EV charging network.


Three 60KW DC Fast chargers have been built by Torrent Power in Ahmedabad, one each at Prahladnagar, Naranpura, and Drive-In-Road. Two vehicles can be charged simultaneously by each charger. A 22 kW AC charger has also been installed in Ahmedabad in addition to this.


The firm provides one of the lowest unit prices in the city at Rs 12 a unit. Additionally, a 20 per cent first-charge discount has been provided for a constrained time.


Three Pumped Storage Hydro Plants with a combined capacity of 5,700 MW were to be developed in Maharashtra under a deal between Torrent Power and the state's government in June. The business plans to carry out these initiatives over a five-year period.


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