Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Gulf Oil Targets Acquisitions To Strengthen EV Infrastructure

- Advertisement -

Gulf Oil Lubricants India aims to dominate the electric vehicle charging ecosystem by acquiring charge point operators (CPOs) and intelligent grid technology firms. The company focuses on the entire value chain, including manufacturing, research, and technology. Intelligent grid technology integrates hardware chargers and software to enhance the efficiency of electrical grids or networks through two-way communication.

Gulf Oil Lubricants India seeks to acquire charge point operators (CPOs) and companies specializing in intelligent grid technology. According to top executives, this move is part of their strategy to establish a leading position in the electric vehicle charging ecosystem.

Mike Jones, CEO of Gulf Oil International, a Hinduja group company based in London, emphasized the company’s focus on the entire value chain, from manufacturing to research and technology. The company began manufacturing EV chargers and wants to expand its reach. Jones stated in an interview that they want the Gulf to be around for another 100 years.

- Advertisement -

Intelligent grid technology combines hardware chargers and software to enhance the efficiency of electrical grids by enabling two-way communication. This technology allows cars to distribute energy to various recipients, utilizing digital technologies, sensors, and software to better align electricity supply and demand in real-time.

Jones highlighted that India is outpacing global lubricant markets, growing at two to three times the global average. With the core lubricant business thriving in India, its largest market globally, Gulf Oil has the resources to invest heavily in the EV infrastructure landscape and bolster its R&D capabilities.

The company plans to allocate a third of its cumulative investment of $80 million (with $20 million in India and the remainder globally) over the past three years to its EV business. The Indian subsidiary will serve as the “centre of excellence” for Gulf Oil International’s EV charging business and act as a manufacturing and export hub. Gulf aims to export made-in-India chargers to 100 countries where it operates, starting with Europe in the next six to eight months.

Ravi Chawla, managing director of Gulf Oil Lubricants, noted that Gulf’s high brand recognition among consumers, its ongoing relationships with automakers, and its robust network of 10,000 outlets make it a logical choice for the company to expand into the EV infrastructure space.

Gulf Oil has made significant investments, including acquiring a 51% stake in Tirex in August 2023, investing in Indra Renewable, a UK-based AC charging company with about an 8% share of the UK home charging market, and in ElectreeFi. This EV SaaS player provides charging management software services to automakers in India.

Less than a year after acquiring a stake in Tirex, Gulf Oil India expects its turnover from the charging business to double annually, becoming an INR 500-INR 700 crore business over the next 5 to 7 years, according to Manish Gangwal, the company’s chief financial officer. The turnover from the charging business is projected to double to INR 25 crore in FY24 and INR 50 crore in FY25. Gangwal stated that at Gulf, they aim to cater to all needs – from home charging, plug-in at home, and destination charging to business-to-business needs.

Gangwal sees a significant opportunity for the company in the government’s bus electrification target. With 2.4 million buses on Indian roads, 800,000 are expected to be converted to electric by the end of this decade. Assuming that every four buses will require one fast charger, there is a potential market for 200,000 chargers in this segment alone.

- Advertisement -

Most Popular Articles

Aryaman Raghuvanshi
Aryaman Raghuvanshi
Aryaman Raghuvanshi is a Journalist at EFY. His passion is to explore the future of mobility, which gets him to cover latest technologies shaping the future of automobiles and EVs. But, at times he writes on broader technologies too. LinkedIn: https://www.linkedin.com/in/aryaman-raghuvanshi-2431b7153

Maini Group Partners With SiMa.ai To Enter Autonomous Tech Sector

0
Maini Group, which introduced India's first electric vehicle in the 1990s, has a longstanding commitment to electrifying in-plant machinery, especially in the Class 3...
Xiaomi EV Car

Xiaomi’s SU7 Ultra EV Prototype Sets A Lap Time Of 6 Mins & 46.874...

0
The car features cutting-edge aerodynamics and a lightweight carbon-fiber structure, along with advanced battery technology from CATL. Chinese smartphone maker Xiaomi, which has now forayed...

TVS Regains Second Place From Bajaj In Electric Two-Wheeler Market

0
The festive season has sparked a slight shift in the electric two-wheeler (e2W) market, as TVS iQube has overtaken Bajaj Chetak in sales. According...

Magna Secures European OEM Order For Hybrid-Compatible Transmissions

0
The first major contract for the new product has been awarded, supporting different vehicle models worldwide equipped with ICE transmissions. The new modular DCT...

India, Germany Unite at NXP’s Semiconductor Roundtable Event

0
Culminating in Germany's partnership for ELECRAMA 2027, NXP Semiconductors' Noida roundtable united German and Indian leaders to explore semiconductor cooperation. NXP Semiconductors hosted a...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...
Rupali Pawar, Senior Vice President of Business at Mukunda Foods

“Transforming Global Cuisines by Automating 80% Of Recipes” – Rupali Pawar, Senior Vice President...

0
In a recent discussion with Nitisha from EFY, Rupali Pawar, Senior Vice President of Business at Mukunda Foods, provided valuable insights into the advancements...
Harry Bajaj, CEO, Mobec Portable EV Charging Solutions

“Our Aim Is Not To Compete With Existing EV Infrastructure But To Complement It...

0
In a conversation with Nitisha Dubey of EFY, Harry Bajaj of Mobec Portable EV Charging Solutions, discusses his shift from the B2C to B2B...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Maini Group Partners With SiMa.ai To Enter Autonomous Tech Sector

0
Maini Group, which introduced India's first electric vehicle in the 1990s, has a longstanding commitment to electrifying in-plant machinery, especially in the Class 3...
Xiaomi EV Car

Xiaomi’s SU7 Ultra EV Prototype Sets A Lap Time Of 6 Mins & 46.874...

0
The car features cutting-edge aerodynamics and a lightweight carbon-fiber structure, along with advanced battery technology from CATL. Chinese smartphone maker Xiaomi, which has now forayed...

TVS Regains Second Place From Bajaj In Electric Two-Wheeler Market

0
The festive season has sparked a slight shift in the electric two-wheeler (e2W) market, as TVS iQube has overtaken Bajaj Chetak in sales. According...

Magna Secures European OEM Order For Hybrid-Compatible Transmissions

0
The first major contract for the new product has been awarded, supporting different vehicle models worldwide equipped with ICE transmissions. The new modular DCT...

India, Germany Unite at NXP’s Semiconductor Roundtable Event

0
Culminating in Germany's partnership for ELECRAMA 2027, NXP Semiconductors' Noida roundtable united German and Indian leaders to explore semiconductor cooperation. NXP Semiconductors hosted a...

Learn From Leaders

Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...
Rupali Pawar, Senior Vice President of Business at Mukunda Foods

“Transforming Global Cuisines by Automating 80% Of Recipes” – Rupali Pawar, Senior Vice President...

0
In a recent discussion with Nitisha from EFY, Rupali Pawar, Senior Vice President of Business at Mukunda Foods, provided valuable insights into the advancements...
Harry Bajaj, CEO, Mobec Portable EV Charging Solutions

“Our Aim Is Not To Compete With Existing EV Infrastructure But To Complement It...

0
In a conversation with Nitisha Dubey of EFY, Harry Bajaj of Mobec Portable EV Charging Solutions, discusses his shift from the B2C to B2B...

Startups

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...