Ravindra Energy’s associate company inks pact with HPCL

Ravindra Energy Ltd. | Power Generation/Distribution | Power | BSE: 504341 | NSE: RELTD

27 Jul 2026 Evaluate

Ravindra Energy’s associate company -- Energy In Motion (EIM) has executed an agreement with Hindustan Petroleum Corporation (HPCL) to establish & operate fast charging cum battery swapping infrastructure for heavy commercial vehicles at select HPCL retail outlets across India. HPCL operates a network of over 25,000 retail outlets nationwide, including on all major highways and expressways.

Under the agreement, EIM will deploy charging and battery swapping infrastructure at HPCL retail outlets in a phased rollout. The company plans to establish swap-and-charge hubs on key freight corridors - including Mumbai-Pune, Delhi-Jaipur and Chennai-Bangalore - over the next 18 to 24 months and expanding progressively thereafter. The stations will serve electric commercial vehicles and will be integrated with EIM’s technology platform for real-time availability, digital payments and remote monitoring.

The partnership is structured to combine the strengths of each party. EIM owns and manages the battery inventory and swap-and-charge hardware, while HPCL provides the space, utilities and common amenities at its outlets. This division allows each partner to contribute what it does best - EIM its electric-vehicle fleet expertise and battery infrastructure, HPCL its established, well-located retail network - and enables charging capacity to be rolled out faster and more efficiently than either could achieve alone.

Hindustan Petroleum outlets combine a prominent highway or urban location with existing power connectivity, forecourt space, safety systems and round-the-clock staffing - the conditions that determine whether public charging is dependable in practice. The partnership addresses the two constraints most often cited by electric vehicle operators: reliable availability, and confidence on long-distance routes.

Battery swapping, offered alongside conventional charging, allows drivers of suitable commercial vehicles to exchange a depleted battery for a charged one in 7 minutes. For fleet operators moving goods over long distances, this materially reduces vehicle downtime and improves daily utilisation and earnings.

Ravindra Energy seeks to create a leading position in the provision of solar energy utilising the unique characteristics of solar PV generation.

Ravindra Energy Share Price

174.25 2.80 (1.63%)

27-Jul-2026 15:50 View Price Chart

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