Gulf Oil Enters Into India's High-Potential EV Charging Market By CIOReviewIndia Team

Gulf Oil Enters Into India's High-Potential EV Charging Market

CIOReviewIndia Team | Friday, 12 February 2021, 08:43 IST

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Gulf Oil Lubricants India, which is a part of the Hinduja Group, has entered into an agreement of participation and co-investment in government of India’s recent investment alongside the Clean Growth Fund (CGF) in Indra Renewable Technologies with Gulf Oil International (GOI). Indra Renewable Technologies is a United Kingdom Electric Vehicle (EV) and smart energy technology company which develops innovative charging and energy storage solutions for home and commercial purposes.

With this investment, Gulf India will have access to an established technology in the EV charging field for adoption of the same for Indian conditions and leverage its wide distribution and brand strengths for extending Gulf-branded residential and commercial charging points as per the evolving requisites of Indian consumers.

It will become a shareholder with the Government of India and CGF in Indra, alongside OVO Group. It provided seed capital and technical support to Indra through Kaluza in technology business.

The CEO and MD of Gulf Oil Lubricants India, Ravi Chawla, said, “With the evolution of the EV space in India, where charging options will become an important decision criterion, we are excited about this association. Continuing the evolution in strategy in this space, we will look at opportunities where we can leverage and synergize the Indra technology with the brand, distribution, and OEM/Infra-B2B customer relationships in India for catering to the future market and the consumer requisites in this space.”

The charging station market, as per the estimates, is projected to have a good potential in the following years, wherein around 50-60 charging solutions which is where Indra is positioned to play.

The major focus enthralled for Gulf India would be the passenger car and light commercial vehicle residential charging segment with Indra’s Smart Charges amidst its evaluation opportunities in the two-wheeler segment. The market is also expected to cause disruption with new technologies like V2G (Vehicle to Grid) chargers which are already developed by Indra and could support the power requirements of individual homes as a backup and also offer huge opportunities forming partnerships with the potential microgrid solution providers in the future.

Indra’s home grown R&D and technology and OEM approvals will be critical success factors in the endeavor.

The British-developed Indra Smart Pro charger features a simple on-unit interface and a supporting Mobile App that provides current status and historical information and easy configuration of the unit.

The Smart Pro is fully compliant with all relevant standards and works with all EVs, those present today and to be present in the future. These are quick and easy to install.

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