Dubai: In an updated strategy, the lubricants company Castrol is making a bigger into meeting the needs of electric vehicles and their owners.
The company, marking its 125th anniversary, has already launched a range of Castrol ON EV Fluids, including EV transmission and thermal fluids as well as EV greases. “The growing market for electric vehicles will most likely co-exist with the continued demand for internal combustion engine (ICE) and hybrids for many years,” the company said in a statement.
Castrol will also focus on launching more ‘circular’ products by re-using base oils, which are used as the main constituent ingredient in lubricants. “More circular transmission fluid has already been tested in an extreme environment with Jaguar TCS Racing,” the company said. This meant utilising Castrol’s more circular transmission fluid in the auto company’s Formula E race cars at the 2023 Monaco E-Prix.
The new Castrol strategy - ‘Onward, Upward, Forward’ - is backed by the launch of a 125-year commemorative logo that will be used throughout 2024 in events and sponsorships.
“While the ‘onward’ and ‘upward’ pillars of the strategy focus on strengthening and growing existing areas of the company’s business, its ‘forward’ initiatives chart out new areas where Castrol has the knowledge, capability and expertise to win,” the statement added.
According to Michelle Jou, CEO of Castrol, “We aim to grow our core business in new ways, using our cutting-edge technology and our trusted global brand to stay at the forefront of our sector. We’re developing more circular offers to help customers achieve their sustainability goals and exploring exciting new growth opportunities beyond lubricants.”
Castrol serves the automotive, machinery manufacturing, robotics, aerospace, and wind sectors. Last year, it partnered SKF to introduce its ‘oil as a service’ offer for the metal-working industry. This enables re-use of the lubricant fluid, reducing consumption while improving machine performance.
