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Magenta Power ropes in HPCL as strategic investor

25 Jul 2019

Magenta Power has roped in Hindustan Petroleum Corporation (HPCL) as a strategic investor as it bids to accelerate deployment of electric vehicle (EV) chargers across India.

The partnership will enable Magenta Power to closely work with HPCL to set up EV charging solutions not just at the fuel filling stations of the state-owned oil marketing major but also beyond.

HPCL is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% marketing share in India among PSUs and a strong marketing infrastructure.

Related Hindustan Petroleum Corporation Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323