FuelBuddy Announces Partnership With Indian Oil Corporation
FuelBuddy today announced its partnership with Indian Oil Corporation (IOCL) for the marketing of automotive and industrial lubricant, SERVO, PAN India. All new and existing customers of FuelBuddy will soon be able to easily place orders of lubricants as per their requirement on the FuelBuddy app post which the physical delivery of the lubricants will be done at their doorstep at the time of their convenience. FuelBuddy is all set to establish an organised and digitised lubricant delivery system across the country.
The lubricants and greases market is a mix of steel, cement, power, mining, railroads, textiles, autos, and glass industries, as well as two and three-wheelers, agricultural equipment, stationary engines and marine. It's a tough choice for brands to pique stakeholders' interest in this market of opportunity. SERVO has a market share of 27 per cent in the market.
R Udayakumar, Chief General Manager, Lube Sales, IOCL added by saying, “With IOCL being a diversified, integrated energy major with its presence in almost all the streams of oil, gas, petrochemicals, and alternative energy sources, this association will be fruitful for both the organisations to responsibly deliver lubricants along with our existing partnership for fuel delivery to the consumers. With FuelBuddy’s extensive doorstep fuel delivery and management system in place, it will be a great opportunity for us to market and supply SERVO to our target customers as well.”
B.B. Patra, Chief General Manager, Lube Retail Sales, IOCL signed the agreement with FuelBuddy for the sale of lubricants. Sharing his thoughts on signing the MOU with IOCL, Neeraj Gupta, CEO-India Business, FuelBuddy said, “We are very excited to have joined hands with IOCL, the largest oil marketing company in the country. With IOCL’s SERVO holding the largest market share in the lubricants industry, we are confident that the consumer demand for doorstep lubricants will gradually increase on our app. With our already established distribution channel and the recent technological advancements in the country, we will be approaching our existing as well and new customers to avail the service. We were planning at expanding our services portfolio pan India, especially in the lubricants market and this partnership with India’s top player establishes our vision and we are all set to be the first player in the industry to be doing so.”
Customers will soon be able to track their lubricant deliveries in real time while providing immediate feedback for the services offered (from order placement, tracking the shipment and receiving the order), in addition to their existing fuel delivery orders via the FuelBuddy app. In an effort to democratise access to fuel, FuelBuddy is constantly aiming at growing its distribution network throughout the nation.
