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Magenta Signs Agreement With TSREDCO, Government Of Telangana For Deploying EVs For Government Use

Under this agreement TSREDCO will coordinate the transition of government officer transport from ICE (Internal combustion Engines) vehicles to EVs across the state departments of Telangana.

TSREDCO which is the nodal agency for the state of Telangana for the promotion of Energy Conservation Initiatives and Renewable Energy programs and projects such as the adoption of Electric Vehicles has signed an agreement with Navi Mumbai based, Electric Vehicle (EV) solutions company, Magenta. Under this agreement, TSREDCO will coordinate the transition of government officer transport from ICE (Internal combustion Engines) vehicles to EVs across the state departments of Telangana. 

The Telangana EV policy launched in 2019 was built upon to launch the 'Telangana Electric Vehicle & Energy Storage Policy 2020-2030’. TSREDCO has been working towards delivering the policy’s mission to make Telangana a hub for Electric Vehicles & Energy Storage Systems

As part of this initiative and under this agreement, Magenta will deploy Electric Vehicles under its EVET (Electric Vehicle Enabled Transport) platform and associated charging infrastructure across the state and strive to achieve substantial reduction in the total cost of transportation for personal and commercial purposes, supported by a strong charging infrastructure. Magenta’s EVET platform is a tech-enabled EV deployment platform that allows for optimizing and managing EVs through a centralized system and network management. This in tandem with their existing ChargeGrid platform allows for a fully integrated EV deployment solution for corporates and governments. 

Mr. Maxson Lewis, MD of Magenta said on the occasion, “Magenta is committed to solving EV challenges. We started solving the EV charging challenges with made in India, made-for-India solutions. With the launch of our EVET platform, we are now targeting to make electric mobility smart & affordable. We are extremely delighted to partner with Telangana state government to make it an EV amenable state under its GO ELECTRIC campaign spearheaded by TSREDCO. We are committed to spearheading the EV growth in India by aggressively deploying charging stations while leveraging our advanced technology platform for deploying the mobility solutions.”

Seed funded by HPCL in 2018 & incubated by Shell in 2019, Magenta is also backed by the Microsoft Startup Program to further boost its advanced technology platform for Electric Mobility. 

In 2020 Magenta had raised pre-series funding from JAN (JITO Angel Network) and LetsVenture. In May 2021, Magenta had announced that it had closed its Series A funding by renowned Indian-American philanthropist, billionaire, and serial entrepreneur.


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Magenta Power TSREDCO Telangana Govt

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