Gulf Oil Lubricants India plans to invest ₹50 crore in its Ahmedabad electric-vehicle charger facility as demand for electric buses and commercial fleet infrastructure grows. The expansion will raise annual manufacturing capacity from 1,800 to approximately 3,000 DC fast chargers, nearly doubling output. Gulf Oil EV Charger
Managing Director and CEO Ravi Chawla disclosed the plan as India’s electric-bus market accelerates. The country, now the world’s third-largest e-bus market, recorded sales of 5,356 units during FY2025-26, representing 37% year-on-year growth.
Tirex Strengthens Gulf Oil’s EV Position
The Gulf Oil EV Charger business operates through Ahmedabad-based subsidiary Tirex Transmission. Gulf Oil acquired a controlling 51% stake in Tirex for ₹103 crore in FY2024. Its ownership increased to 65.18% following an additional ₹38 crore investment in FY2026.
Tirex holds an estimated 40% share of India’s electric-bus and commercial-fleet charging segment. Its portfolio includes heavy-duty DC fast chargers rated up to 240 kW. The Gulf Oil EV Charger division also crossed ₹100 crore in revenue for the first time last financial year.
Building an Integrated Charging Ecosystem
Alongside commercial chargers, the company has invested in AC home-charging products and software provider ElectriFi. This strategy combines charging hardware with software-as-a-service tools for fleet management, creating an integrated EV ecosystem.
Gulf Oil expects this ecosystem to generate ₹300-500 crore in revenue within three to five years. Management wants electric mobility to contribute 15-20% of the company’s overall topline within five years, while its lubricants business continues growing.
Localisation Supports Competitive Pricing
More than 55% localization of components and assembly is expected to reduce equipment costs and improve competitiveness against infrastructure majors. The latest Gulf Oil EV Charger expansion positions e-mobility as a long-term growth engine while strengthening India’s EV charging supply chain.
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