
Hinduja Group and Gulf Oil International-backed Gulf Oil Lubricants India Limited has announced a strategic investment in a leading e-mobility solutions (SaaS) company Techperspect Software (better known as ElctreeFi) via investment in equity shares. Under this partnership, Gulf Oil and ElectreeFi will work together to develop solutions and play a role in the fast-charging e-mobility space for 2 and 3-wheelers to begin with.
This is Gulf Oil India’s second investment on the EV mobility value chain after its investment in the UK-based EV smart chargers manufacturer Indra Renewables in 2021 to launch Gulf Chargers in the UK and globally including India. Through its recent investment in ElectreeFi, Gulf is also eyeing the integration of the company’s SaaS offering into the Gulf Chargers in India.
“Software is an integral and critical component of the electric mobility revolution and we intend to utilise our pan-India touchpoints as well as relationship with Automotive OEMs and industrial customers to leverage this alliance to providing superior solutions related to electric vehicle charging, EV fleet management and battery swapping. I am sure this partnership will grow to benefit the EV industry as it will ensure an EV ecosystem solution-based approach to customers thereby ensuring seamless EV charging and battery swapping infrastructure development, its operations and management, and easy accessibility for both, B2B and B2C segments,” MD and CEO of Gulf Oil Lubricants India Ravi Chawla said.
ElectreeFi’s target market segment and customers include charging point operators, swapping station operators, vehicle OEMs, charger OEMs, battery OEMs, EV fleet operators, utilities, government agencies, e-mobility planning agencies, commercial, residential and private property owners and individual users, as per the exchange filing.
“Adoption of Battery Swapping Technology by 2 and 3-wheeler OEMs is fast gaining momentum. This will get a further push with the Union Budget for 2022-23 announcing battery swapping policy. ElectreeFi Battery Swapping Platform has already been successfully tested on a pilot project by a leading EV infrastructure provider set to launch a pan-India network of Battery Swapping Stations,” Director off business and strategy and co-founder of ElectreeFi Sumit Ahuja explained.
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