HPCL and Tata Power have joined forces. Tata Power will install electric vehicle (EV) charging stations at HPCL gas pumps across the country. MK Surana, CMD, HPCL, shared the business insight.
“In the changing energy landscape where various options are being considered for affordable and sustainable energy resources, electric vehicles are also finding their place. HPCL, as a fuel supplier, we would like to be in every part of this spectrum and therefore, this type of merger is an opportunity both for us and for our partners to accentuate this infrastructure and this ecosystem, which will promote The mobility of electric vehicles in the country, ”he said.
Regarding EV charging stations, he said: “To date, HPCL has around 87 retail stations, where we have EV charging facilities or battery facilities in around 17. cities to date. With this merger, we will first install 100 points of sale in major cities and on the highways as a pilot, then it will be further extended depending on experience.
There will be a revenue sharing model between the two companies. “The investments will come from Tata’s side and HPCL will charge a certain amount for the space used; there will be revenue sharing between us, ”he said.
He thinks people have yet to understand this new energy model, the cost of vehicles as well as the understanding and adaptability of vehicles. “I think it will take some time for this to make a significant dent in the system – so from today it will be difficult to estimate the time. All kinds of initiatives or new products that are arriving, beyond a threshold, it is accentuated very quickly. So our attempt should be to reach that threshold as soon as possible, ”he added.
Regarding the consumption for the months of June and July, he shared: “Gasoline has already exceeded the level of consumption before the pandemic. In July, we are above the consumption level of July 2019. Regarding diesel, we are about 10 to 12% below the level before the pandemic, but we are respectively 10% and 6% higher. % at the level of gasoline and diesel last year. “
Aviation turbine fuel (ATF) has picked up and is about 45% of pre-pandemic level with substantial growth of around 18% on a monthly basis (MoM), he said.
For the full interview, watch the accompanying video.
(Edited by : Dipika gosh)