Top 5 EV Charging Infrastructure Stocks to add to Your Watchlist – EQ Mag Pro
As the automotive industry is transitioning towards electric mobility, these oil and energy companies are creating a market for themselves.
There is so much hype around electric vehicles (EV) worldwide.
And for good reason.
EV manufacturers are investing a lot of money in producing new models and developing a comprehensive EV portfolio.
The government is also encouraging to shift to EVs with its policies and initiatives.
However, it’s highly unlikely that electric vehicles will succeed without proper EV charging infrastructure. Hence EV makers are concentrating on developing EV charging stations across the country.
Here are five companies developing a charging infrastructure network across India.
#1 Tata Power
The first company on our list of EV charging stations is Tata Power.
As India’s largest integrated power company, its no surprise that it’s on our list.
It offers EV charging solutions across all segments, including home charging, public charging, workplace charging, and captive charging.
The company has partnered with various EV makers such as Tata Motors, TVS, MG Motor India, and Jaguar Land Rover (JLR) India to develop charging infrastructure.
It has also tied up with original equipment manufacturers (OEMs) to deploy all types of chargers at its charging stations.
As of September 2021, Tata Power installed around 5,458 home charging points, 32 e-bus charging stations, 878 EV charging stations in India.
Recently, the company tied up with Lodha Group and Central Railway Mumbai to provide EV charging solutions in Pune and Mumbai.
It has also developed an EV charging app to locate the nearest charging station, get updates on charging, and pay charges online.
#2 Indian Oil Corporation
Second on our list is Indian Oil Corporation, India’s largest oil refining & petroleum marketing company.
Indian Oil plans to install EV charging facilities at 10,000 fuel stations in the next three years. It currently has 448 EV charging stations and 30 battery swapping stations across the country.
It has also collaborated with EV makers and power companies such as Hyundai, Mahindra, Ola, NTPC, and Tata Power to set up EV chargers at fuel stations.
The company is evaluating emerging trends in mobility and the EV value chain to identify business opportunities to stay ahead in this transition.
As a part of its ‘zero-emission electric mobility mission’, it has set up the first hybrid microgrid to charge EVs using solar power, battery storage, and grid power.
The company also collaborated with Sun Mobility and Phinergy of Israel to strengthen its green energy presence and commercialise aluminium air battery technology in India.
Moreover, it has been exploring Solid Oxide Fuel Cell (SOFC) to generate clean, reliable, and affordable green energy for EV charging.
#3 Bharat Petroleum Corporation
Next on our list is Bharat Petroleum Corporation, an integrated refining and marketing company.
It’s India’s second-largest oil marketing company and third-largest refining company with a network of 19,000 outlets.
Currently, the company runs 44 EV charging stations and plans to add another 1,000 outlets by October 2022.
It plans to transform 7,000 conventional outlets into energy stations to support electric mobility in the next few years.
These stations will provide multiple fuel options, including EV charging, compressed natural gas (CNG), petrol, diesel, flexi fuels, and hydrogen.
The company plans to invest ₹50 bn in the next five years through an inorganic route to expand its renewable power portfolio to 1,000 megawatts (MW) from its existing capacity of 45 MW.
#4 Reliance Industries
Reliance Industries, the largest private-sector corporation in India, is fourth on our list.
The company is already an established player in the petroleum and refinery business and is the second-largest refinery in the country.
To set up EV charging stations in the country, Reliance has tied up with British Petroleum under the name Jio-BP.
In the first phase of the plan, Jio-BP will set up EV charging stations across the Delhi-NCR region to charge a minimum of 30 cars in each station.
The first EV charging station has already been established in Mumbai with multiple fuelling choices.
It has partnered with BluSmart, an EV ride-hailing platform, to set up an EV charging network with the latest technology in India.
Jio-BP has also tied up with Mahindra Group to provide charging solutions to EVs made by the latter using mobility-as-a-service (MaaS) and battery-as-a-service (BaaS) models.
Currently, it operates a network of 1,400 petrol pumps in the country. It plans to expand this to 5,500 pumps in the next five years with multiple fueling options, including EV charging...Read More...
Source: livemint
