TL;DR
Gulf Oil India is investing ₹50 crore to nearly double its EV charger manufacturing capacity in Ahmedabad to 3,000 units, responding to the 37% growth in India's e-bus market.
Gulf Oil India Ltd is set to significantly expand its electric vehicle (EV) charger manufacturing capabilities, planning an investment of ₹50 crore to nearly double the capacity at its Ahmedabad facility. The expansion will increase production from 1,800 to approximately 3,000 DC fast chargers. This strategic move by the lubricant maker, which holds a controlling stake in Tirex Transmission Pvt. Ltd., comes in response to the growing momentum within India's e-bus market.
India's electric bus sector experienced a substantial growth of 37% year-on-year in 2025-26, solidifying its position as the world's third-largest e-bus market with 5,356 units sold. Gulf Oil's investment in Tirex Transmission has been progressive, with an initial ₹103 crore in FY24 for a 51% stake, followed by an additional ₹38 crore in FY26, bringing its total ownership to 65.18%. This expansion highlights the company's commitment to supporting the country's accelerating electric mobility transition.
