IOC And Okaya To Install 2,550 EV Chargers With INR 125 Cr Investment

Okaya EV Chargers has joined hands with Indian Oil Corporation (IOC) for setting up 2,550 electric vehicle (EV) chargers across India with an investment of INR 125 crore. However, as many as 362 such chargers have already been installed in over 20 states in a step towards bolstering the electric vehicle infrastructure in the country, the company said.

This collaboration between Okaya Group and IOC aims to create a robust charging network to support the growing number of EVs in India, fostering widespread access to EV charging and encouraging more individuals to embrace electric mobility.

According to the company, these chargers comprise a diverse range of high-and low-voltage options, including 3.3-kw and 7.4-kw chargers, 30-kw wall-mounted CCS (combined charging system) 2 DC fast chargers, as well as 60-kw CCS2 DC fast chargers.

The total investment for this initiative is pegged at Rs 125 crore, reflecting the substantial commitment of both partners to accelerate the adoption of EVs and support the government's push towards cleaner transportation, the company said.

A part of Okaya Group, Okaya EV Chargers has already commissioned 2,000 chargers across the country as India transitions towards sustainable transportation.

A total of 5,254 public charging stations are available in India. To meet its 2030 goals, India needs a total of 46,397 stations. The two-wheeler segment dominates the Indian automobile market, accounting for more than 70 per cent of all registered vehicles. E2Ws are a convenient and efficient mode of transportation for short-distance travel, especially in cities.

In India, the two-wheeler segment accounts for more than 50 per cent of all petrol transactions. Two-wheelers are utilised in commercial applications such as logistics fleets for food and groceries, parcel and courier services, and passenger transport-related services. Two-wheelers that can effectively negotiate traffic are also being tested for first and last-mile connection via shared trips and bike taxi services. According to a study, electric two-wheeler sales penetration in India might surpass 80 per cent by 2030.