Bharat Petroleum To Pump In Rs 200 Crore To Set Up 100 Fast Electric Vehicles Charging Corridors

BPCL to invest in setting up electric vehicles charging infrastructure

Mumbai:

State-owned oil marketing company Bharat Petroleum Corporation Ltd (BPCL) on Wednesday said it will invest around Rs 200 crore this fiscal to set up 100 fast electric vehicle (EV) charging corridors, covering 100 of the busiest national highways. But there will be 2,000 stations.

The company recently opened its first EV charging corridor with a single charging unit on the Chennai-Trichy-Madurai highway. BPCL’s executive director of retail BS Ravi said on Wednesday that the second corridor will be built on the Kochi-Salem section of National Highway 47 in the next two months.

Mr. Ravi said that if the charging unit does not require a booster transformer, then such a unit which will be a complete center with rest rooms, refreshments/food court and other facilities, can be prepared at a cost of Rs 7-12. . lakh, and if the unit needs a transformer the cost will go up to Rs 25 lakh.

“Considering this cost variation, we have budgeted an investment of around Rs 200 crore this fiscal as we plan to set up over 2,000 fast charging stations across 100 corridors by March 2023,” said Mr. Ravi.

For the long term, the company plans to have 7,000 fast EV charging stations by 2024-25, he added. But he did not disclose the details of the investment.

He said the third corridor would probably be the Mumbai-Bengaluru National Highway 4, and would have multiple units as the highway has the highest traffic.

Mr Ravi said the national oil refiner and marketer, which is the second largest player in petrol and diesel with nearly 30 per cent of the retail market, expects the EV ecosystem to grow faster than before, and the company to play a bigger role. Wants to set up the infrastructure for this ambitious campaign.

The government has also announced concessions to boost domestic manufacturing and sales of electric vehicles.

He said that his company would seek some incentives from the central or state government as the charging stations would not be commercially viable due to less passengers in the initial phase.

Last week, the Federation of Automobile Dealers Associations (FADA) had said that electric vehicle retail sales had tripled to 4,29,217 units in 2021-22 from 1,34,821 units in FY 2020-21 and 1,4,821 units in 2019. 68,300 units. -20. Electric two-wheelers, especially scooters, contributed the most to EV sales.

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