News Update

Jio-bp and Mahindra Group signs MoU to accelerate EV adoption in India.

• ByStartupStory     |    December 9, 2021

JV of Reliance Industries and BP(British Petroleum), Jio-bp and Mahindra Group announced a non-binding MoU to accelerate the creation of EV products and services. The MoU is based on 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). This would include captive fleets and last-mile mobility vehicles of Mahindra Group as well.

“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” said the announcement.

EV charging and swapping points will also be set up at Mahindra Group’s channel partner locations. Mahindra group will also be utilising the existing Jio-bp stations. This would mean that both companies plan to come out with innovative solutions that would help 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. Business models like Mobility as a Service (MaaS) and Battery as a Service (BaaS) will be explored for this wherein Jio-bp could provide charging solutions to vehicles made by the Mahindra Group.

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