The joint venture of BP of the UK and Reliance Industries has signed a Memorandum of Understanding (MoU) with Mahindra Group. The MoU is about exploring EV, low-carbon solutions and battery systems for 3-wheelers.
The MoU covers the evaluation of charging solutions by Jio for Mahindra vehicles. The vehicles are 3 and 4 wheelers, quadricycles and e-SCV (Small Commercial Vehicles).
Jio-BP has launched its first Mobility Station in Maharashtra on 26 October 2021. The station includes EV charging infrastructure. Alongside that, business models like Mobility as a Service (MaaS) and Battery as a Service (BaaS) will be explored wherein Jio-bp could provide charging solutions to vehicles made by Mahindra Group.
The EV market in India is still at a nascent stage and through this MoU, various possibilities and orientation of database, operations support systems, software, pilot and commercial-scale business model and types of charging and swapping facilities are proposed to be explored and implemented, subject to techno-economic feasibility and necessary approvals.
Jio-bp is an Indian fuels and mobility joint venture between Reliance Industries Limited (RIL) and UK’s bp plc. The company has the vision to become a solution provider of choice for mobility in India. The joint venture will leverage Reliance’s presence across 21 states and its millions of consumers through the Jio digital platform. It will bring its extensive global experience in high-quality differentiated fuels, lubricants, retail, and advanced low carbon mobility solutions. Jio-bp aims to expand its fuel retailing network to 5,500 over the next five years.