MyGate and EV infrastructure provider REVOS have partnered to provide sustainable electric vehicle charging solutions to resident welfare associations (RWAs) and gated societies.
The MyGate-BOLT (Revos) partnership will offer affordable and seamless charging infrastructure options to gated societies, enabling residents and associations to plan for a hassle-free and cost-effective solution. It will also help RWAs generate passive income by opening it up for both residents and visitors. Together, the companies plan to install the BOLT EV charging solution in thousands of gated communities in the next 12 months across India.
This is the first ever large-scale implementation of EV charging across gates communities which will enable RWAs to upgrade their charging infrastructure without any hassle as EV adoption picks up in India, say the companies. Under this partnership, BOLT will be integrated within the MyGate App, which will eliminate the need to install any other app and the RWAs will have the flexibility to choose from a wide range of EV charging options for community & private charging.
The BOLT charging network is hardware agnostic and can be integrated with most charging solution providers in the country. Once BOLT is installed, RWAs can choose between private/public mode of operation for their charging stations and decide on the price depending on existing commercial/EV tariffs. They can also choose to recover the initial investment by charging a transaction fee from residents, based on their operational model.
Residents will be able to see available EV charging options within the MyGate app, book slots to charge their EVs and also pay as per usage. Residents will also have an option to request for the installation of a charging station in their private parking lots from the MyGate app, post the approval from their RWA. The BOLT OS comes pre-installed in many EV two wheelers.
Further, BOLT’s Charger Management System comes in-built with advanced load balancing and dynamic tariff capabilities. As smart metering evolves in India, residents’ vehicles will be auto charged during off peak times when the tariff is low, reducing the peak loads and saving costs for the residents & RWAs.
India’s EV market is growing rapidly, with around 2 million vehicles expected on the road by 2026. To meet their charging requirements, it is estimated that the country will need 400,000 stations and, as 80% of charging takes place at home, Resident Welfare Associations (RWAs) will soon be expected to provide the necessary infrastructure.
MyGate, which commands a 82% market share in the community management space, recently conducted a survey in gated communities around EV Charging Infrastructure. According to the survey, more than 40% RWAs are looking to install EV charging solutions within the next 12 months and over 30% societies will do so in the next 1-3 years. Urban apartment and villa communities, with their high population densities and localised demand, are crucial locations for semi-public charging infrastructure. RWAs, thus, play an important role in filling this gap and improving the quality of life in cities.
Jyotiranjan, Cofounder, REVOS, said, “We are excited to partner with MyGate,” adding, “Using BOLT, we hope to charge over one million vehicles in India in the next five years.”
Abhishek Kumar, COO & Cofounder, MyGate, said, “In the coming years, we envision EV charging to be the most used amenity among residents and our goal is to provide this service in every community we are present,” adding, “We are bullish that this partnership will help India towards its journey of being a cleaner and greener country.”
