Gulf Oil Lubricants, a renowned player in the lubricant industry, is now setting its sights on the rapidly evolving electric vehicle (EV) mobility segment.

In a recent conversation with CNBC-TV18, Ravi Chawla, the managing director and CEO of Gulf Oil Lubricants, unveiled the company's strategic vision for the future. He stated, "Globally and in India, we are looking for Gulf to stretch into the EV mobility."

Recognising the immense potential in this sector, Gulf Oil Lubricants aims to play a pivotal role in shaping the future of transportation.

An essential step in Gulf Oil Lubricants' strategy to enter the EV mobility sector is through acquisition. Chawla explained, "This is a major step for us to look into Tirex, which is into DC (Direct Current) chargers. They are a good growing emerging player with good technology, quality, and backup. This is in line with our strategy where Gulf will support them as a strategic investor,” he said.

He believes that this company holds great promise, and further hopes that in the future, this will become a good growth engine.

“It is definitely going to be a profitable segment going forward,” he said.

Furthermore, Chawla projected that Gulf Oil Lubricants aims to capture a significant market share in the DC charger segment, saying, "With Tirex, we are targeting 10 percent market share in India."

One of the strengths that Gulf Oil Lubricants brings to this endeavor is its robust financial position. Chawla proudly emphasised, "We are a cash-generating company. We have close to Rs 400-500 crore in our fund flows."

Despite the company's expansion into the EV mobility segment, Chawla also highlighted their commitment to their core business.

Courtesy: CNBC TV18