Market for lubricants to grow well. EVs present both opportunities and challenges, said Gulf Oil Indias CEO.

The Managing Director and CEO of Gulf Oil India, Ravi Chawla, spoke on how to handle the danger posed by electric vehicles, the company's EV acquisitions, and how lubricants may increase fuel efficiency. Revised passages:The increasing popularity of electric vehicles (EVs), which run on batteries rather than engines, poses a danger to petroleum-based lubricants used in internal combustion engines (ICE). Gulf Oil Lubricants India Ltd, a prominent participant in the domestic lubricants market, is valued at approximately Rs 4,500 crore on stock exchanges and is a subsidiary of Gulf Oil International, which is owned by the Hinduja Group. Managing Director and Chief Executive Officer of Gulf Oil India, Ravi Chawla, discussed the company's EV acquisitions, how to navigate the EV threat, and how lubricants may improve fuel efficiency with Aggam Walia. Revised passages:

The lubricant market is expected to increase significantly, at least in Asia and India. Lubricants typically expand at a rate of half of the car growth rate, which is approximately 7-8% volume growth. According to a recent Klein study, even at the present rate of EV penetration, the lubricant industry will expand by 3% in volume over the next ten years. We anticipate slightly faster growth, so there shouldn't be any issues over the next ten to twelve years. In actuality, EVs won't have an impact on 75% of the lubricants used in industry, construction, and autos today. We see EV penetration as a challenge as well as an opportunity. The first chance is