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Oil Companies Race Ahead in EV Charging Space

Oil Companies Race Ahead in EV Charging Space

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State-run Hindustan Petroleum Corporation Ltd (HPCL) joined hands with Tata Power for setting up end-to-end EV charging stations.

Development and availability of EVsfor charging infrastructure is a key requirement for the proliferation of EVs in India and oil companies through forging such partnerships plan to facilitate the same in addition to diversifying their business

Mumbai : Not wanting to be left behind in the race for renewables and electric vehicles, oil marketing companies are racing ahead with their plans to expand their presence in the renewable energy space.

Last week state-run Hindustan Petroleum Corporation Ltd (HPCL) joined hands with Tata Power for setting up end-to-end EV charging stations at HPCL’s retail outlets or petrol pumps in multiple cities and major highways across the country.

Under the agreement, Tata Power will provide state-of-the-art EV charging infrastructure at HPCL pumps for EV users who can travel within cities and intercity without any range anxiety. The charging is enabled with the Tata Power EZ charge mobile platform (an award-winning app) which makes it a seamless experience for vehicle owners.

“HPCL with its vast network comprising of more than 18000 retail outlets and Tata Power with its strong presence and expertise in the EV charging segment brings a unique strategic partnership to create a pan India charging ecosystem with end-to-end solutions,” said ED Retail, HPCL, Sai Kumar Suri.

Indian Oil Corporation Ltd (IOCL), the largest of the three big oil marketers, on the other hand, has set up 257 charging stations and 29 battery swapping stations throughout the country. The company is also working on aluminium air battery technology with a foreign technology company to put up a manufacturing facility in India.

Development and availability of electric vehicles for charging infrastructure is a key requirement for the proliferation of EVs in India and oil companies through forging such partnerships plan to facilitate the same in addition to diversifying their business.

Their strategy is also in line with the government’s National Electric Mobility Mission Plan (NEMMP) which aims to develop electric vehicle charging infrastructure using the latest technology platform along with easy access to electric vehicles for charging points.

The government is also pushing solar and wind energy as well as electric vehicles, to curb oil imports and pollution, and meet its commitments under the Paris accord on climate change. India pledged to reduce carbon emissions relative to its gross domestic product by 33-35% from 2005 levels by 2030, under the accord.

Privatization-bound Bharat Petroleum Corporation Ltd (BPCL) has also shortlisted oil depots and liquified petroleum gas bottling plants for the installation of rooftop solar plants.

It is envisaged that rooftop solar plants will reduce conventional electricity consumption and also achieve greenhouse gas emission reduction.

Source: livemint

Anand Gupta Editor - EQ Int'l Media Network