BPCL Partners With Bounce Infinity To Sell EVs At Fuel Pumps

SUMMARY

This collaboration will leverage BPCL's extensive network to transform select fuel stations into EV sales hubs. As per BPCL’s website, it has over 14,802 fuel stations across the country.

These stores will be operated either by Bounce Infinity or through BPCL’s dealer network and each outlet will have charging points for customers to charge their vehicles on-site

Bounce Infinity will help BPCL's on-ground dealers by offering marketing support, managing inventory, and providing training

Government-run oil and gas giant Bharat Petroleum Corporation Limited (BPCL) has inked a partnership with Bengaluru-based electric vehicle (EV) manufacturer Bounce Infinity to establish retail stores for two-wheeler EVs at BPCL fuel retail outlets.

This collaboration will leverage BPCL’s extensive network to transform select fuel stations into EV sales hubs. As per BPCL’s website, it has over 14,802 fuel stations across the country.

These stores will be operated either by Bounce Infinity or through BPCL’s dealer network and each outlet will have charging points for customers to charge their vehicles on-site.

Bounce Infinity will help BPCL’s on-ground dealers by offering marketing support, managing inventory, and providing training. The state gas company also plans to offer EV charging stations at around 7,000 petrol stations over the next five years.

“Partnering with Bounce Infinity is an integral part of our strategy to transform our fuel stations into versatile energy hubs that cater to the evolving needs of our customers and contribute to environmental sustainability,” said BPCL business head for retail Pardeep Goyal.

While these stores are designed to make EVs more accessible and to raise awareness among aspiring EV customers, they also intend to facilitate a smooth transition from internal combustion vehicles to electric vehicles.

“By targeting the large base of petrol two-wheeler owners who come to refuel at BPCL stations, this partnership aims to encourage a seamless transition to EVs,” as stated by the company.

Bharat Petroleum’s retail infrastructure includes a network of installations, depots, energy stations, aviation service stations and LPG distributors.

This development comes close to Bounce recording a 13% net loss decline to INR 197 Cr in the financial year 2022-23 (FY23) from INR 243.3 Cr in the previous year, following strong sales of its electric vehicles (EVs).

Its operating revenue increased by 510% to INR 90.9 Cr during the year under review from INR 14.9 Cr in FY22.

Founded in 2014 by Anil G, Varun Agni, and Vivekananda Hallekere, Bounce began operations as a bike rental platform. However, it pivoted to become an EV manufacturer in 2022. Currently, it manufactures and sells EV scooters and also allows customers to directly rent out the electric scooters from designated points.

It has raised a total funding of over $234 Mn to date and is reportedly planning to raise a funding round of $20 Mn to $40 Mn from new as well as existing investors.