Bharat Petroleum Corporation Limited (BPCL), a ‘Maharatna’ and a Fortune Global 500 Company, is betting big on electric vehicle (EV) charging infrastructure.
It has chalked out a plan to offer charging stations at around 7,000 petrol pumps over the next few years. The company has a distribution network involving 19,000+ retail outlets (fuel stations) across the country. The EV charging infrastructure will provide the company with a new business opportunity as well as a hedge against the risk of displacement of auto fuels.
The EV ecosystem in India is expected to experience robust growth in the coming years as auto manufacturers turn to electric vehicles to attract new consumers. The companies that stand to benefit from this shift to EVs are the ones with a strong distribution network. BPCL, the second-largest oil marketing company (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 period compared to companies that are yet to build the physical infrastructure of retail outlets.
“Over the next few years, we are aiming at reaching the count of 7,000 stations to support the growing EV industry and these stations would be known as ‘Energy Stations," said Mr. Arun Kumar Singh, Chairman & Managing Director, Bharat Petroleum.
He further added, "EV charging infrastructure is one of the five focused segments that BPCL is working on along with Petchem, Gas, Consumer Retailing, Renewables & Biofuels that will serve the energy needs of the nation.