In a development that is set to electrify India, Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, and Bharat Petroleum Corporation Limited (BPCL), a 'Maharatna' and a Fortune Global 500 Company, have collaborated to set up charging infrastructure for two-wheeled electric vehicles (EVs) across the country.
Aligned with its Vision to "Be the Future of Mobility" and with its aim to drive the growth of EVs, Hero MotoCorp has become the first automotive OEM to tie up with the leading Public Sector Undertaking (PSU) to set up charging infrastructure across the length and breadth of India.
Bharat Petroleum, accelerating its focus on new business segments for sustainable growth, announced in September 2021 that it is converting 7,000 conventional Retail Outlets into Energy Stations providing multiple fueling options, which will include EV charging facility also, in the medium to long term.
The two mega entities will first establish a substantial charging infrastructure at the existing nationwide energy station network and subsequently may broaden the collaboration to develop more synergies within the EV ecosystem and adjacent business verticals, thereby enabling prospects throughout the customer life cycle.
In the first phase, charging stations will be set up across nine cities starting with Delhi and Bengaluru. The network will be then expanded across the country with the aim to establish a high density of charging stations.
Hero MotoCorp will soon commence the infrastructure development in the two cities. Each charging station will feature multiple charging points including DC and AC chargers and will be available for use to all two-wheeled EVs.
The entire user charging experience will be controlled by a Hero MotoCorp Mobile-App and will be a cashless transaction model.
The massive Bharat Petroleum energy station network will also provide accelerated opportunities to expand the scope of operations and services. The companies may utilize the gateways created to make additional investments into building a robust EV ecosystem.
Dr. Pawan Munjal - Chairman and CEO, Hero MotoCorp, "Hero MotoCorp has always been at the forefront of propelling the industry and leading it into the future. Once again, as the automotive and mobility sectors are poised to evolve, we are taking strategic steps to lead this evolution. Through our endeavors towards both organic and inorganic business expansion, we are poised to accelerate the growth of emerging mobility trends."
"Sustainability has been a key pillar of growth within the Hero MotoCorp global ecosystem. Now, with our Vision "Be the Future of Mobility" we are aggressively advancing our initiatives towards the technologies and solutions that will empower all individuals, societies and industries to contribute towards the planet's environmental targets."
"In addition to developing world-class and tech-driven sustainable emerging mobility solutions, we are also making significant efforts towards building a robust EV ecosystem and offering the most advanced services to customers. The partnership with BPCL, which is already at the forefront of customer energy solutions, will be beneficial for both the EV segment and customers. This collaboration will also unlock opportunities for asset allocation and expansion in the future."
Arun Kumar Singh - Chairman & Managing Director, Bharat Petroleum Corporation Ltd., "Bharat Petroleum has been pioneers in providing innovative mobility related solutions to consumers in the field of energy. Our Pure for Sure customer promise launched at the turn of the century brought in a whole new paradigm in consumer trust and transparency at the point of sale and our expansive digital embrace has added new dimensions in convenience and personalization thereby enriching our customer engagement processes.
As we step into the exciting phase of energy transition, BPCL will continue to be at the forefront of accelerating the spread of clean energy in the country and will be creating a network of 7000 Energy Stations across the country with EV charging leading our endeavor.
India's personal mobility is primarily driven by two-wheelers who form the largest part of our valued customer base and the two-wheeler segment has been the early adopters of electric two wheelers. Our alliance with Hero MotoCorp, global leader in the two-wheeler industry and with a fine penchant for innovation, is therefore an extremely strategic step towards ushering in an era of best-in-class EV charging solutions for our customers in our Energy Stations and an exciting future of innovative solutions in the EV sector".
Shares of Bharat Petroleum Corporation Limited was last trading in BSE at Rs. 368.95 as compared to the previous close of Rs. 373.45. The total number of shares traded during the day was 206013 in over 6112 trades.
The stock hit an intraday high of Rs. 372.40 and intraday low of 365.05. The net turnover during the day was Rs. 76017609.00.
Shares of Hero MotoCorp Limited was last trading in BSE at Rs. 2710.95 as compared to the previous close of Rs. 2776.30. The total number of shares traded during the day was 25423 in over 3096 trades.
The stock hit an intraday high of Rs. 2747.00 and intraday low of 2684.90. The net turnover during the day was Rs. 69055744.00.