Oil import from Nigeria plunges as India launches first electric car charging station

Oil import from Nigeria plunges as India launches first electric car charging station

The world’s third-biggest oil consumer, India, has launched its first Electric Vehicle (EV) charging facility, a major boost to the country’s 2030 target to switch fully to electric mobility.

Electric car
Electric car
Photo credit: Dailytrust

The launch came less than 48 hours after Japanese automakers, Toyota, the world’s No. 2 automaker and Suzuki, the third largest car maker in Japan on local sales, finalized an agreement to manufacture and sell electric vehicles in India by 2020.

The move, particularly the involvement of Suzuki gives further credence to the government’s vision of switching to alternative fuel sources by the turn of the decade.

India’s first electric charging station was launched by state-run oil firm Indian Oil Corporation Ltd. (IOC) at one of its petrol/diesel stations on Sunday, the company said on its website.

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India’s ambition for a shift to renewable energy in addition to other forces could in a few years than expected, affect Nigeria’s exports to the country which is its number one crude oil export destination.

Nigeria’s oil supply to India recently hit its lowest level this year as Indian refiners were increasingly turning to cheaper supplies from the United States. According to the NNPC, India bought 7.67 million barrels in May, down from 12.49 million barrels the previous month.

One Response to "Oil import from Nigeria plunges as India launches first electric car charging station"

  1. Solomon Minority
    Solomon Minority   November 22, 2017 at 2:35 am

    PHCN go this one market

    Reply

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