Jio-bp, Mahindra Group sign MoU to boost EV, green solutions
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Reliance BP Mobility, under the brand name of Jio-bp, on Wednesday signed an MoU with the Mahindra Group for collaboration in areas such as electric vehicle products and services, and in low-carbon and conventional fuels.
Jio-bp is a fuel and mobility joint venture between Reliance Industries and UK's bp plc.
The MoU is a "non-binding" agreement.
"The MoU also covers evaluating charging solutions by Jio-bp for Mahindra vehicles including electric three and four wheelers, quadricycles and e-small commercial vehicles," Jio-bp said in a statement.
Additionally, business models like 'mobility as a service' (MaaS) and 'battery as a service' (BaaS) will be explored where Jio-bp could provide charging solutions to Mahindra vehicles, the statement said.
Besides, the partnership aims at accelerating EV adoption in India with high-performance and swappable batteries, which in turn will help in dispelling range anxiety among users.
"Such innovative solutions will broaden the horizon for both the companies and help realise India's net-zero emissions goals faster," it added.
India aims to achieve the net-zero emitting status by 2070.
