Petronas arm puts India EV charging biz up for sale
Petronas subsidiary Gentari Green Mobility India is putting its Indian electric vehicle (EV) charging business up for sale after a failed attempt to divest a significant minority stake in its renewable generation unit last year. The sale process for the Gurgaon-based company's 3,000 EV charging points, spread across 11 Indian states, is in its initial stages with potential bidders yet to be approached.
The EV charging infrastructure is managed independently and through a partnership with Shell Plc. The company, which has an authorized share capital of ₹24.25 crore, sees increasing EV adoption driven by government schemes. Gentari acquired a renewable energy generation asset portfolio from Brookfield last year but is seeking a partner to sell a stake in that business.
The parent company, Petronas, has an annual revenue of approximately $65 billion and holds investments across Africa, North America, Australia, and West Asia.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
