Tata Power, Indian Oil sign deal to install 500-plus EV charging points in petrol pumps

Tata Power EV Charging Solutions Limited (TPEVCSL), a subsidiary of the Tata Power Group, has entered into a strategic agreement with the Indian Oil Corporation (IOCL) to deploy over 500 fast and ultra-fast electric vehicle (EV) charging points across India. These charging stations will be established at various IOCL retail outlets, enhancing the accessibility of EV charging infrastructure.

The EV charging points will be strategically located in major cities, including Mumbai, Delhi, Kolkata, Bengaluru, Ahmedabad, Pune, and Kochi. Additionally, they will be positioned along key highways such as the Mumbai-Pune Expressway, Salem-Kochi Highway, Guntur-Chennai Highway, and the Golden Quadrilateral.

Virendra Goyal, Head of Business Development for EV Charging at Tata Power, highlighted that leveraging IOCL’s extensive presence will enable the establishment of fast and superfast charging points, contributing to a sustainable and inclusive electric mobility future.

EV users will benefit from the dual advantage of using the ‘Tata Power EZ Charge’ app and the ‘IndianOil e-Charge’ mobile app to locate and book chargers conveniently. The collaboration aims to enhance the EV charging ecosystem, supporting the growing demand for electric vehicles in the country.

Indian Oil, with a vision to have 10,000 EV charging stations by 2024, is undergoing a transformative shift toward providing complete energy solutions at its retail outlets. Saumitra Shrivastava, Executive Director (Retail-N&E) at Indian Oil, emphasized the pivotal role played by the strategic partnership with Tata Power in responding to this transformative shift.

Following the announcement, Tata Power’s shares rose by 2.83 percent on the Bombay Stock Exchange (BSE), while Indian Oil experienced a 1 percent dip, closing at Rs 117.65. Tata Power claims a significant market share of nearly 60 percent in the EV charging market, operating in 420 cities and having installed a substantial number of home chargers, public charging points, and bus charging stations.