Electric Vehicles (EV) have the potential to completely transform the transportation industry, reduce carbon emissions significantly, and pave the road for significant climate progress. According to surveys, worries regarding range and charging accessibility are a significant barrier to EV customer adoption. The electricity grid will be significantly impacted by EV charging. A coordinated charging approach that facilitates EV charging while avoiding the power grid from overloading is required to manage EV charging. In this work, the EVs are classified based on their charging capacity. This classification includes car, truck, and bus. With this a charging discharging scheme has been established using Real Time Pricing for each hour for a 20‐min block. The Voltage Stability Index (VSI) for the system is calculated for the system and the strongest bus is identified for locating the EVs to charge/discharge.Augmenting this, in the present work, the power loss is analyzed when Distributed Generation (DG) units are installed after the EVs are located in the system for charging and discharging. The DG units are installed in each feeder, considering the VSI and Penetration Level (PL) and the power losses incurred due to the presence of EVs. The Monetary benefit of such an investment is analyzed for different topologies of IEEE‐33 and 69 bus systems and compared with the existing methods where DGs are installed before the EVs are located in the system for charging and discharging.