STOCK MARKET BSE NSE

Jio-BP, Mahindra Group sign MoU for EV, low-carbon solution

The partnership aims to leverage the strengths of both companies in the areas of EV products and services.

Published: 08th December 2021 04:56 PM  |   Last Updated: 08th December 2021 06:01 PM   |  A+A-

EV, electric car, electric vehicles

Image used for representational purpose.

By PTI

NEW DELHI: A joint venture of Reliance Industries Ltd and BP of the UK on Wednesday said it has signed an agreement with the Mahindra Group to explore EV and low-carbon solutions, including battery swapping technology options, for electric 3-wheelers.

Besides exploring creation of EV products and services, the non-binding MoU signed by Reliance BP Mobility Limited (RBML) and Mahindra Group would look for identifying synergies in low-carbon and conventional fuels, the company said in a statement.

"The MoU also covers evaluating charging solutions by Jio-bp for Mahindra vehicles including electric 3 and 4 wheelers, quadricycles and e-SCV (Small Commercial Vehicles - sub 4 ton)," it said.

This would include captive fleets and last-mile mobility vehicles of Mahindra Group.

The partnership aims to leverage the strengths of both companies in the areas of EV products and services.

"Mahindra Group and its channel partner locations will be evaluated for setting up of Jio-bp Mobility Stations and EV charging and swapping points apart from utilizing existing Jio-bp stations," it said.

Jio-bp recently launched its first Mobility Station in Maharashtra, offering multiple fueling choices, including EV charging infrastructure.

Additionally, 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 in 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.

The partnership aims at accelerating EV adoption in India with high-performance and swappable batteries that will help in dispelling range anxiety.

"The solutions would afford great convenience to customers who can ideally bring in a depleted battery to their nearest swapping station and within minutes move on with fully charged batteries by paying a nominal fee.

Such innovative solutions will broaden the horizon for both the companies and help realize India's net-zero emissions goals faster," the statement added.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp