The oil marketing majors – Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Ltd (BPCL) – have recently announced their plans of setting up charging stations for electric vehicles at their fuel stations across India. Together, both companies will establish 17,000 new charging stations – 10,000 by IOCL and 7,000 by BPCL – over the next few years. Both companies are hugely bullish on electric mobility in India.
- Indian Oil to establish 10,000 EV charging stations over next 3 years
- Bharat Petroleum to establish 7,000 charging stations over next few years
- Indian Oil is also collaborating with several power companies and carmakers to boost EV infrastructure
Indian Oil to set up 10,000 EV charging stations
The past year has seen the EV eco-system in the country grow substantially, particularly driven by the central government's push towards vehicle electrification, the revised and enhanced FAME II policy subsidy and several states rolling out EV-friendly policies both for consumers and industry.
EV sales, particularly two- and three-wheelers, are on the upswing, while demand for electric passenger vehicles is also growing. As a result, companies across the automotive spectrum are recognising the market shift and taking measures to both stay future-ready and also relevant.
Indian Oil, the country’s largest oil marketing company, will install EV charging facilities at 10,000 fuel stations over the next three years. The proposed EV charging network will facilitate an uninterrupted driving experience for EV users. At present, IOCL has 27,500 fuel stations and 448 EV charging stations and 30 battery swapping stations across the country.
Indian Oil has collaborated with Tata Power, REIL, Power Grid Corporation of India, NTPC, Fortum, Hyundai, Tech Mahindra, BHEL and Ola for setting up EV chargers at its fuel stations. Initially, a mix of chargers suited for two- and three-wheelers will be provided, which will be further upgraded as per requirement and market conditions. It has also collaborated with Sun Mobility to strengthen its foray into green energy for battery swapping stations.
BPCL to add 7,000 charging stations to its network
Meanwhile, BPCL has chalked out a plan to set up charging stations at around 7,000 fuel stations across India over the next few years. It currently has a distribution network involving over 19,000 retail outlets (fuel stations). The OMC says the EV charging infrastructure will provide it a new business opportunity as well as a hedge against the risk of displacement of auto fuels.
Companies that stand to benefit from this shift to EVs are the ones with a strong distribution network. BPCL, the second largest OMC, is a formidable player with a nationwide network of fuel stations and distributors that can help in offering the EV charging facility in a short span of time compared to companies that are yet to build the physical infrastructure of retail outlets.
“EV charging infrastructure is one of the five focused segments that BPCL is working on along with petchem, gas, consumer retailing, renewables and biofuels that will serve the energy needs of the nation.” said Arun Kumar Singh, chairman and managing director, Bharat Petroleum.