AutoEnergy One AB (publ) receives order of SEK 2 million from IndianOil for automatic refueling systems

STOCKHOLM, May 3, 2022 /PRNewswire/ --  AutoEnergy has won a public tender from India's largest oil company, IndianOil. The procurement includes two units of the company's system for automatic refueling of passenger cars (Fuelmatics), which are the first of their kind to be installed on Indian soil.

IndianOil currently has approximately 32,000 stations in India and is expanding rapidly. In 2021 alone, more than 3,000 new stations were opened in the country. The oil company's order is strategically important for AutoEnergy, which opens up the growing Indian market for its technology.

- The order from IndianOil is an important milestone for us. India is an interesting market, with over 300 million drivers, which continues to grow at an enormous rate, says Roger Chaba, COO at AutoEnergy.

AutoEnergy also sees great Indian interest in Power Swap, an automatic battery replacement system for electric cars, and aims to introduce the system in the country soon.

- For the Indian market, the transition to a climate-neutral transport sector is very important. The electric car has the potential to become an important part of this transition, but today the infrastructure is not able to support the sought-after expansion of electric cars. Our battery swap system solves many of the challenges that society faces and has the opportunity to accelerate the uptake of electric cars on the market, says Sten Corfitsen, CEO of AutoEnergy.

For further information, please contact:
Roger Chaba, COO
E-mail: roger.chaba@autoenergy.se
Phone: +46 (0) 724 428 922

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