Gulf Oil Lubricants India Ltd. announced the acquisition of a controlling stake of electric vehicle charging equipment company Tirex Transmission Pvt Ltd. U.S. $12.46 million, subject to completion, the company said in a press release.
India’s government laid out ambitious electrification targets in 2021. It’s aiming of 30% of private cars, 70% of commercial vehicles and 80% of two and three wheelers sold in the country by 2030. At present, there are fewer than 2,000 charging points across the country.
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