Indian Oil to set up 10,000 EV charging stations in next three years

Announcement follows PM Narendra Modi's goal for India to be net zero by 2070; green hydrogen to also be a part of IOC's soon-to-be-revealed new zero plan

The country’s largest automobile fuel retailer Indian Oil Corporation has announced its plans to set up 10,000 charging stations in three years. Setting up of EV charging stations and production of green hydrogen will both be part of the company’s net carbon zero strategy that is expected to be unveiled soon.

The IndianOil announcement comes two days after Prime Minister Narendra Modi announced India’s target to be net zero by 2070. "Electric Vehicles are now a reality, and IndianOil is geared up to tide over challenges and leverage opportunities in this area. Our bouquet of services will now include alternative energy offerings, including EV charging at our fuel stations,” chairman IndianOil S M Vaidya. This would provide confidence both to automobile manufacturers for enhancement of EV production and to customers for uninterrupted drive, said Vaidya.

Besides IndianOil, Bharat Petroleum Corporation Limited (BPCL) also announced plans to offer charging stations at around 7,000 petrol pumps over the next few years. State-owned Hindustan Petroleum Corporation Ltd (HPCL) had in September announced plans to commission 5,000 charging stations over the next three years. It had 84 EV charging stations.

Setting up of e-charging stations is both a strategy to diversify its business because of the challenge electric vehicles can give to the liquid fuel market as well as a plan for a net zero future for the company. While BPCL said in a statement the EV charging infrastructure would provide the company a new business opportunity as well as a hedge against the risk of displacement of auto fuels, Vaidya said, "Energy pie of the country is growing. We are not a stagnant economy. Overall our energy pie is growing and so all kinds of fuel will be needed to meet the energy needs."

IndianOil plans to set up the charging stations in a phased manner with the first 2,000 stations being set up within the year. At present, IndianOil has 448 EV charging stations and 30 battery swapping stations across the country.

Nine cities, including Mumbai, Delhi, Bangalore, Hyderabad, Ahmedabad, Chennai, Kolkata, Surat and Pune, would be focus areas in the first phase with 231 charging stations. State capitals, smart cities and major highways and expressways would be covered in a phased manner. A large chunk of these or 1,472 stations would be set up in smaller cities and along highways but most of these would cater to electric two wheelers. This number would go to 2510 in the third year when the overall number of stations run by IndianOil would be 10,000.

IndianOil has collaborated with Tata Power, REIL, Power Grid Corporation, NTPC, Fortum, Hyundai, Tech Mahindra, BHEL and Ola for setting up EV chargers at its fuel stations. Initially, a mix of chargers suited for two and three wheelers would be provided, which would further be upgraded to meet the requirement and market conditions.

IndianOil director (research and development) SSV Ramakumar said two of its refineries at Panipat and Mathura would start producing 10 per cent of their hydrogen from green sources by 2024. “Once Mathura refinery reaches 10 per cent, IndianOil will achieve overall 10 per cent green hydrogen usage.” Green hydrogen uses solar power to electrolyze water and produce hydrogen unlike the grey hydrogen which is made from natural gas or naphtha.