India’s electrification journey is forcing traditional players to reinvent their core business models. One notable example is Gulf Oil, a company historically rooted in lubricants which has strategically moved into the high-tech, service-oriented world of electric vehicle (EV) charging.
Ravi Chawla, MD and CEO of Gulf Oil Lubricants India, detailed this pivot and the practical realities of achieving self-reliance in the nascent Indian EV infrastructure market during a recent panel discussion at the India EV Conclave held in Delhi.
The Lubricant Giant’s Electric Pivot:
Gulf Oil’s strategy for making it "big in the electrification space" hinges on choosing a defined lane: chargers and Software as a Service (SaaS) charging. The company rapidly built its capability through acquisitions, buying Tirex Transmission (its DC fast-charging division) and the UK-based Indra to establish a global offering of both alternating current (AC) and direct current (DC) charging solutions.
Chawla explained that the Indian teams are focusing on strengthening Research and Development (R&D) and working backwards to engineer components, intending to localize parts like PCBs (Printed Circuit Boards) — the fundamental electronic components that govern a charger’s operation.
Achieving localization also demands customization to handle unique Indian market conditions. This includes redesigning chargers to withstand local weather conditions and meeting specific customer demands. Furthermore, localization must incorporate capabilities for custom fitting, servicing, and ensuring high charger uptime, which is vital for the smooth functioning of bus fleets and other heavy-duty applications.
Gulf Oil has successfully reached close to 55% localization. Initially, this was focused on the more accessible external elements like cabinets, protective casing (the wing), wires, and harnesses but the company is now intent on progressing further into other components, the top executive highlighted. "The localization levels will increase further as we move ahead," Chawla noted.
Cost vs. Self-Reliance: A Global Outlook
While the government pushes for greater domestic content Chawla pointed to the perennial tension between localization and cost competitiveness — a challenge facing the entire automotive component ecosystem.
While the country is currently dependent on importing some components to maintain design quality and build internal capabilities, he concluded that India is well poised to play a larger role, provided it becomes more ambitious and secures the necessary policy support to strengthen local R&D and design capabilities. "Think big, innovate, and look at global markets rather than just look at India," he added.