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The Mahindra Group and Indo-British joint venture Jio-bp have signed a non-binding Memorandum of Understanding. The MoU will see the two groups explore the creation of EV products and services, alongside identifying synergies in low-carbon and conventional fuels.
The agreement between the two companies will also see the duo collaborate to explore the creation of solutions on battery swapping technology for electric 3-wheelers. The partnership will also explore business models like Mobility as a Service (MaaS) and Battery as a Service (BaaS).
As per the agreement between the two companies, Jio-bp's Mobility stations will be used to charge Mahindra's fleet of EVs 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 the Mahindra Group.
The partnership aims to leverage the strengths of both companies in the areas of EV products and services. In the release from Jio-bp, the company stated, "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."
The partnership aims at accelerating EV adoption in India with high-performance and swappable batteries that will help in dispelling range anxiety. The solutions will 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 claim the press release from Jio-bp will broaden the horizon for both the companies and help realize India's net-zero emissions goals faster.
Jio-bp is a joint venture between Reliance Industries Limited and British petrochemical giant bp. The Indo-British joint venture recently opened up its first Jio-bp branded mobility station at Navde in Navi Mumbai, Maharashtra. The all-new Mobility Stations will provide charging solutions for electric vehicles in the future. The company states that it will rebrand all of its over 1400 fuel pumps as Jio-bp and will present customers with a new range of value propositions over the coming months.
The Mahindra Group's passenger vehicle division has been spearheading the electric vehicle push in the Indian market. The company already sells the electric e2o plus hatchback and eVerito sedan in the country and has plans to introduce 8 new electric SUVs in India by the year 2027. Out of the eight new electric SUVs, four will be brand new vehicles while the rest will be based on current Mahindra models.
Thoughts On The Mahindra Group & Jio-bp Tie-up
The tie-up between Mahindra Group & Jio-bp comes as a shot in the arm for Ev adoption in the country. With these two giants looking into EVs and charging as well as low carbon solutions, the future is bright for the green vehicle revolution in the country.