Gulf Oil Lubricants partners Gulf Oil International for exploring opportunities in EV charging space

Mumbai: Hinduja group company, Gulf Oil Lubricants India on Thursday said it has partnered with Gulf Oil International for investing and exploring opportunities in the electric vehicle charging space. Gulf Oil Lubricants India Ltd (GOLIL) has entered into an agreement with Gulf Oil International (GOI) to participate and co-invest in Gulf Oil International’s recent investment along with the Clean Growth Fund (CGF – a UK venture capital fund) in a UK-based smart energy and electric vehicle technology company Indra Renewable Technologies, a company release said.

The charging station market, as per estimates, is expected to have a good potential in coming years, wherein around 50-60 per cent is expected to be in residential charging solutions which is where Indra is positioned to play, the release added.