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Indus to set up EV charging facility on its towers, says report

Indus to set up EV charging facility on its towers, says report

Indus to set up EV charging facility on its towers, says report
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By CNBC-TV18 Jul 17, 2019 1:15:28 PM IST (Published)

The move is part of the company’s strategy to tap into the growing EV sector.

India’s largest mobile tower company Indus Towers Ltd is planning to set up electric vehicle charging units on its telecom towers as part of its strategy to tap into the growing EV sector, reported Mint.

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The move will allow the firm to secure a unique revenue stream, the report said. Currently, the firm’s revenue comes from renting out its towers to mobile phone operators, the report added.  The move could also help the firm from depending too much on the telecom sector that has been recently hit by troubled waters.
“We are very keen about this (EV) space. Since the car tank will be replaced by a battery, you will need to charge that battery at either commercial places or your building. The kind of turnaround we talk about in these electric vehicles, you will need many locations. And we have locations which are powered 24 hours of the day making it suitable for EV charging," a top company official was quoted as saying in the report.
The development could be a boost to the government’s plan to develop the Electric Vehicle segment as a replacement for conventional vehicles. The infrastructure boost comes at a time when the government has announced tax exemption to EVs in the latest budget.
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