HCLTech opens EV charging R&D centre with ChargePoint

India’s third largest  IT services firm by revenue HCL Technologies (HCL Tech) on Thursday announced a collaboration with ChargePoint, a US-based provider of networked charging solutions for electric vehicles (EVs), to advance innovation in EV charging software. As part of this collaboration, HCL Tech has established an advanced research and development (R&D) centre for ChargePoint in Bengaluru.

The centre will serve as a central hub for ChargePoint’s software development efforts in India, the company said in a statement.

Ajay Bahl, Chief Growth Officer at HCLTechsaid that the centre will serve as the focal point for ChargePoint's software development in India, utilising HCLTech’s agile, product-focused engineering model to deliver scalable and customisable EV charging solutions to meet rising demand.

Rick Wilmer, CEO of ChargePoint, emphasised India's importance to their success and their commitment to attracting top talent for this facility to develop future industry products. 

“India has long been vital to our success, and this is a critical region for our software development. We aim to recruit the brightest talent for this new facility, developing the products that will shape the future of our industry," he said.

Since its founding in 2007, ChargePoint has provided a comprehensive range of charging solutions, including a cloud subscription platform and software-driven hardware, addressing various needs from residential to commercial applications like workplaces and fleet operations. 

ChargePoint's platform currently offers access to hundreds of thousands of charging stations across North America and Europe, leading the US EV charging network with a 32% market share and over 70,000 ports.

HCL Technologies reported a nearly 5% year-on-year revenue growth, rising from ₹28,446 crore in Q3 FY24 to ₹29,890 crore in Q3 FY25. During the same period, net profit increased from ₹4,351 crore to ₹4,594 crore, reflecting a 5.6% growth. 

In 2024, the EV charging market in India reached 1.28 million units and is projected to grow at a compound annual growth rate (CAGR) of 22.20% from 2025 to 2034. To support this growth, investments of $20-30 billion will be necessary, according to Debi Prasad Dash, President of the India Energy Storage Alliance, who spoke at the 'IESA India EV Fast Charging Summit' in New Delhi in November.