- 23 Feb 2022
- ICICIdirect Research
Hero MotoCorp partners with BPCL to develop EV charging ecosystem
HEROMOTOCO - 5455 Change: 80.90 (1.51 %)News: Hero MotoCorp and Bharat Petroleum Corporation (BPCL) have collaborated to set up charging infrastructure for two-wheeled electric vehicles (EVs) across the country. It plans to establish a substantial charging infrastructure at the existing nationwide energy station network of BPCL. In the first phase, charging stations will be set up across nine cities starting with Delhi and Bengaluru. The network will be then expanded across the country with the aim to establish a high density of charging stations.
Views: Each charging station will feature multiple charging points including DC and AC chargers and will be available for use to all two-wheeled EVs. The entire user charging experience will be controlled by a Hero MotoCorp mobile app and will be a cashless transaction model. The said plan is being executed under BPCL’s broader mission to offer electric vehicle charging stations at ~7,000 energy stations over the next five years. It will further help in augmenting the EV penetration domestically with HMCL now envisaged to be present across the EV ecosystem.
Impact: Positive