Gulf Oil and Piaggio India Extend Partnership for Commercial Vehicle Lubricants

Gulf Oil Lubricants India Limited (Gulf Oil) and Piaggio Vehicles Pvt Ltd (Piaggio India), a subsidiary of the Italian Piaggio Group, have renewed their strategic partnership agreement, reaffirming their commitment to delivering high-performance lubricants for Piaggio India’s small commercial vehicle segment.

Details of the Partnership

This exclusive partnership, extended until 2030, highlights the shared vision of both companies to provide customised, genuine lubricants and innovative solutions that meet the evolving needs of the market.

Under the renewed agreement, Gulf Oil will continue as Piaggio India’s exclusive lubricant partner for factory fill, workshop, and retail requirements across India, with exports to select international markets. The partnership will cover a wide range of products, including advanced BS VI oils and new EV fluids, designed to improve vehicle performance and efficiency.

This collaboration harnesses the strengths and market leadership of both Gulf Oil and Piaggio, setting the stage for future growth in retail, factory-fill, and export markets. By focusing on continuous advancements in lubricant technology, the partnership aims to set new benchmarks in product innovation, efficiency, and customer satisfaction. The renewed agreement is a significant milestone in the ongoing relationship between Gulf Oil and Piaggio India, ensuring both companies remain at the forefront of the commercial vehicle industry.

The renewal agreement was signed by Mr Diego Graffi, Chairman and MD of Piaggio Vehicles Pvt Ltd, and Mr Ravi Chawla, MD and CEO of Gulf Oil Lubricants India Limited.

Since their partnership began in 2020, Gulf Oil and Piaggio India have worked together to develop high-quality lubricants tailored to meet the evolving demands of Piaggio’s vehicle lineup, including BS VI and EV models. This collaboration has consistently produced advanced products that improve vehicle performance and durability, offering Piaggio India’s channel partners and customers optimised solutions for their commercial vehicles.

Management Commentary

Commenting on the partnership renewal, the MD and CEO of Gulf Oil Lubricants India, Mr Ravi Chawla, said, “We are thrilled to renew our partnership with Piaggio India, which aligns with our mission to bring industry-leading, specialised lubricants to diverse vehicle segments. Our collaboration has been built on a shared passion for innovation and growth, and together, we are poised to expand our reach and impact in both traditional and electric vehicle markets.”

He further added, “With India’s commercial vehicle market poised for significant growth driven by robust infrastructure development, this collaboration is well-positioned to capitalise on emerging opportunities and strengthen Gulf’s position as a trusted partner for OEMs, supporting our vision for sustained growth and excellence in the sector.”

On November 26, 2024, Gulf Oil share price opened at ₹1,085.00, touching the day’s high at ₹1,092.00, as of 11:40 AM on the NSE.

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