Image Credit: BP

On Wednesday, a joint venture of Reliance Industries Ltd and BP of the United Kingdom said that it had struck an agreement with the Mahindra Group to study EV and low-carbon solutions for electric 3-wheelers, including battery swapping technology alternatives. The non-binding MoU signed by Reliance BP Mobility Limited (RBML) and Mahindra Group will search for synergies in low-carbon and conventional fuels, in addition to investigating the production of EV products and services, the firm said in a statement.

"The MoU also entails Jio-bp investigating charging options for Mahindra vehicles, including electric 3 and 4 wheelers, quadricycles, and e-SCV (Small Commercial Vehicles - sub 4 tonne)," according to the press release. This would comprise Mahindra Group captive fleets and last-mile mobility vehicles.

The alliance aims to capitalise on both firms' expertise in the areas of electric vehicle products and services. "Apart from employing existing Jio-bp stations, Mahindra Group and its channel partner locations would be examined for setting up Jio-bp Mobility Stations and EV charging and switching points," it stated. In Maharashtra, Jio-bp has opened its first Mobility Station, which offers a variety of fueling options as well as EV charging facilities.

Additionally, commercial models like Mobility as a Service (MaaS) and Battery as a Service (BaaS) will be investigated, with Jio-bp potentially providing charging options for Mahindra Group vehicles. The Indian EV market is still in its early stages, and this MoU proposes to explore and implement various databases, operations support systems, software, pilot and commercial-scale business models, and types of charging and swapping facilities, subject to techno-economic feasibility and necessary approvals.

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