Gentari is reviewing strategic options for its Indian EV charging arm as competition rises and charging operators focus on network utilisation and profitability.
Gentari, the clean-energy arm of Malaysia’s Petronas, is exploring the sale of its electric vehicle (EV) charging business in India as the company reassesses its portfolio in the country.
Its Indian subsidiary, Gentari Green Mobility India, operates around 3000 EV charging points across 11 states. The network includes charging locations in cities and along highways, with installations at hotels and restaurants. The company also has a partnership with Shell for its charging operations.
The proposed sale is still at an early stage, and potential buyers have reportedly not yet been approached. The valuation of the business has also not been finalised and could depend on factors including the utilisation of its charging network.
The potential divestment comes as Gentari reviews its broader India investments. The company had earlier considered selling up to a 50 per cent stake in its Indian renewable power generation business, although that transaction has not progressed.
Gentari entered India’s EV charging market as part of Petronas’ wider clean-energy expansion. Green mobility, renewable energy and hydrogen have been identified as key areas for the company’s growth strategy.
The potential exit comes despite India’s expanding EV market and increasing demand for charging infrastructure. Government initiatives promoting vehicle electrification, along with growing electric two-wheeler, three-wheeler and commercial vehicle adoption, are driving investment into charging networks.
India’s EV charging sector has also attracted international capital. In 2023, Macquarie invested in Chargezone, which operated about 3500 charging points at the time. The transaction reportedly valued the company at around Rs 15 billion.
For Gentari, a sale would represent a strategic shift in its India operations. As the charging market becomes increasingly competitive, operators are facing greater pressure to improve charger utilisation and move towards profitability rather than focusing solely on expanding network size.
The outcome of Gentari’s review could therefore offer a broader indication of how global energy companies are reassessing their EV infrastructure investments in India’s rapidly developing but still evolving charging market.
