HPCL to set up battery swapping pilots to join EV race

Bracing for a future with less-polluting fuels, Indian oil refiner Hindustan Petroleum Corp is planning a pilot program for swapping batteries of electric two- and three-wheelers at its outlets by December, according to people familiar with the matter.

The initiative is aimed at helping the company maintain its grip on a segment of the mobility market that’s rapidly shifting to cleaner power sources, said the people, who asked not to be identified because the plans aren’t public. The ultimate capacity of the program hasn’t been decided.
Company Summary
NSEBSE
Hindustan Petroleum …-1.10 (-0.45%)

An HPCLNSE -0.45 % spokesman wasn’t immediately able to comment.