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Cash Ur Drive Marketing on Saturday said it has received a Letter of Award (LoA) for an electric vehicle (EV) charging infrastructure project involving the establishment, operation and maintenance of charging stations.
According to a regulatory filing, the contract has been awarded by a domestic entity and relates to the development of EV charging infrastructure. The charging stations are to be commissioned within 90 days from the handover of sites. The project also includes an operations and maintenance period of 10 years.
The total consideration for the contract is not currently ascertainable and will be determined at the time of execution of the definitive agreement. The company did not disclose the name of the customer.
The firm said that neither its promoters nor promoter group entities have any interest in the entity awarding the contract. The company also clarified that the order does not fall within related-party transactions.
The project adds to the company’s presence in the EV charging infrastructure segment as India continues to expand its charging network to support electric vehicle adoption.
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