HPCL Plans To Build 5,000 EV Charging Stations In Three Years; To Leverage Its Nationwide Network Of 19,000 Fuel Stations

State-owned Hindustan Petroleum Corporation Limited (HPCL) is planning to build as many as 5,000 electric vehicle (EV) charging stations in a span of three years, reports Economic Times.

The company is aiming to capture a significant share of the nascent EV charging market.

It should be noted that the company has about 85 EV charging stations at present, all of which have been established at existing fuel stations. Also, over the last few years, HPCL has piloted charging stations and battery swapping facilities. It has also struck various partnerships to prepare itself for a larger rollout of EV charging stations.

HPCL currently follows an “Opex-sharing” model wherein its partners like Tata Motors and Convergence Energy Services (CESL) bring in investments for the charging facilities. This lowers the initial investment for HPCL to set up the charging stations.