Gulf Oil Lubricants India invests in ElectreeFi, an e-mobility SaaS company
Gulf Oil Lubricants India Limited has announced a strategic investment in e-mobility software-as-a-service company Techperspect Software (also known as ElectreeFi) through investment in equity shares.
Under this collaboration, Gulf Oil and ElectreeFi will work together to develop solutions and play a role in the fast-charging e-mobility space for two and three-wheelers to commence with.
This is Gulf Oil India's second investment in the EV mobility value chain after its investment in the UK-based EV smart chargers manufacturer Indra Renewables in 2021 to launch Gulf Chargers in the UK and globally including India.
Through its recent investment in ElectreeFi, Gulf is also eyeing the integration of the company's SaaS offering into the Gulf Chargers in India.
Ravi Chawla, Managing Director-CEO, Gulf Oil Lubricants India stated "Software is an integral and critical component of the electric mobility revolution, and we intend to utilise our pan-India touchpoints as well as the relationship with Automotive OEMs and industrial customers to leverage this alliance to provide superior solutions related to electric vehicle charging, EV fleet management, and battery swapping. I am sure this partnership will grow to benefit the EV industry as it will ensure an EV ecosystem solution-based approach to customers thereby ensuring seamless EV charging and battery swapping infrastructure development, its operations and management, and easy accessibility for both, B2B and B2C segments."
Sumit Ahuja, Co-Founder, ElectreeFi said "Adoption of Battery Swapping Technology by two and three-wheeler OEMs is fast gaining momentum. This will get a further push with the Union Budget for 2022-23 announcing battery swapping policy. ElectreeFi Battery Swapping Platform has already been successfully tested on a pilot project by a leading EV infrastructure provider set to launch a pan-India network of Battery Swapping Stations."