Gulf Oil Lubricants’ board has approved to enter into an agreement with Gulf Oil International (GOI) to participate and co-invest in GOI's recent investment along with the Clean Growth Fund (CGF- a UK venture capital fund) in Indra, the UK Based Electric vehicle (EV) and smart energy technology company developing innovative charging and energy storage solutions for home and commercial use.
With this investment, Gulf India will get access to an established technology in EV charging space to adopt the same for Indian conditions and leverage its wide distribution and brand strengths to extend Gulf Branded residential and commercial charging points as per the evolving needs of Indian consumers. Gulf India will become a shareholder with CGF and GOI in Indra, alongside OVO Group, which had provided seed capital and technical support to Indra via Kaluza, its technology business.
Gulf Oil Lubricants, part of Hinduja Group, is an established player in Indian lubricant market. It markets a wide range of automotive and industrial lubricants, greases, 2-wheeler batteries, etc.
