Gulf Oil Doubles EV Charger Output in India as E-Bus Demand Skyrockets

Gulf Oil, a major player in India's energy landscape, is making a bold move by injecting ₹50 crore to double the production capacity of its electric vehicle (EV) charger manufacturing arm, Tirex Transmission, at its Ahmedabad plant. This strategic investment will ramp up the annual output of DC fast chargers from 1,800 to 3,000 units, a direct response to the booming demand in India's electric bus market. This expansion comes at a pivotal time, as India's e-bus market surged by 37% year-on-year in the fiscal year 2025-26, solidifying its position as the world's third-largest. Gulf Oil, holding a 65.18% controlling stake in Tirex Transmission, aims to strengthen its leadership in the DC fast charger segment, where Tirex already commands roughly 40% of the market. This move also signals Gulf Oil's commitment to diversify beyond its traditional lubricant sector, aligning with broader government initiatives like the PM E-DRIVE Scheme and PM e-Bus Sewa Scheme, which are heavily subsidizing EV adoption and charging infrastructure development across the nation. Looking ahead, the increased capacity positions Tirex Transmission to capitalize on the substantial pipeline of upcoming tenders for electric buses from both central and state governments, expected to range between 7,000 to 10,000 units. With the Indian EV charger market projected to be worth around ₹4,000 crore over the next four years, Gulf Oil's proactive capital expenditure aims to secure a significant share, reinforcing India's push towards green mobility and a robust domestic EV ecosystem.