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India’s public sector oil marketing companies made a significant leap in electric vehicle (EV) infrastructure development in FY24, adding over 7,800 new EV charging stations. Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) have collectively expanded their network to nearly 17,000 charging stations, with plans for continued growth in the coming years.
IOC led the charge by installing 3,601 new EV stations in FY24, bringing its total to 10,028 stations, which now account for about 60% of the country’s EV charging infrastructure. The company also offers battery-swapping services at 99 locations and has partnered with Sun Mobility Pte Ltd to establish a national battery-swapping network.
BPCL, aiming to support Indias transition to electric mobility, installed 2,443 new charging stations in FY24, bringing its total to over 3,100. The company plans to significantly expand its fast-charging infrastructure along major highways, with a target of 7,000 charging stations. It also launched the Highway Fast Charging Corridors initiative, expanding its fast-charging network to 900 stations across 120 key routes.
HPCL added 1,773 EV charging facilities in FY24, including battery-swapping stations, bringing its total to 3,603. The expansion aligns with government initiatives such as FAME II, under which the Ministry of Heavy Industries allocated ?800 crore to support the development of 7,432 charging stations by the oil companies.
The rapid infrastructure growth is supported by policies like reduced GST on EVs and schemes such as FAME and PLI, which are boosting EV adoption. Shailesh Chandra, Vice President of SIAM and Managing Director of Tata Motors Passenger Vehicles, noted that India now has over 8,000 electric buses, 200,000 electric cars, and growing EV penetration across two- and three-wheeler segments, supported by more than 12,000 public charging stations nationwide. |
