Ratan Tata-backed startup to produce over 3,000 mobile petrol pumps this year | Mint
Active Stocks
Fri Feb 23 2024 15:58:13
  1. Tata Steel share price
  2. 145.50 -0.24%
  1. State Bank Of India share price
  2. 759.40 -0.86%
  1. HDFC Bank share price
  2. 1,420.90 0.08%
  1. NTPC share price
  2. 337.70 -0.54%
  1. ITC share price
  2. 411.60 -0.65%
Business News/ Companies / Start-ups/  Ratan Tata-backed startup to produce over 3,000 mobile petrol pumps this year
BackBack

Ratan Tata-backed startup to produce over 3,000 mobile petrol pumps this year

The mobile petrol pumps come with GPS and geo-fencing
  • The Pune-based startup Repos Energy already has a fleet of 320 such vehicles
  • Started three years ago, Repos Energy runs mobile petrol pumps and is funded by veteran industrialist Ratan Tata.Premium
    Started three years ago, Repos Energy runs mobile petrol pumps and is funded by veteran industrialist Ratan Tata.

    NEW DELHI : Backed by industrialist Ratan Tata, a Pune-based energy distribution startup plans to manufacture and sell around 3,200 mobile petrol pumps in the current financial year. Repos Energy said it also plans to get on board over 1,200 operators from across the country during FY 2020-21.

    "At present India needs over a lakh of fuel stations across the country to meet the demand. However, this wouldn't be feasible due to the availability of land and the huge costs involved. There are over 55,000 fuel stations which are not sufficient," Chetan Walunj, co-founder of Repos Energy, said in a statement.

    Led by IoT, a Repose Petrol Pump can safely and conveniently deliver fuel to the end customers through a simple mobile application, the company said, adding that it is integrated with cloud technology to get real-time updates.

    "It has highly sensitive censors called ATG to get accurate quality and quantity of diesel. Enabled with GPS and Geo-fencing, this mobile petrol pump can be monitored in real-time, to ensure the utmost transparency," it said.

    Co-founder Aditi Bhosale Walunj said: "We have a fleet of 320 vehicles out of which over 100 are fully operational and working to deliver fuel across India. But now, our target is to build and sell 3,200 RMPPs in one year."

    The startup is backed by Ratan Tata, Chairman Emeritus of Tata Group, who came on board as a mentor along with Tata Motors who have helped in making these Repos Mobile Petrol Pumps safe and efficient, the statement said.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
    More Less
    Published: 25 May 2020, 09:12 AM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App