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Mahindra Group join hands with Jio-bp JV to boost EV business

Mahindra Group has announced that it will partner with Jio-a joint venture of Reliance Industries Ltd and BP Plc, so that it can explore the creation of products and services for strengthening the conglomerate's electric vehicle push.

The deal states that the company will evaluate Jio-bp's charging and battery swapping technology for its electric three- and four-wheelers, as well as quadricycles and small commercial vehicles.

Also, the partnership will explore business models such as mobility and battery as a service to help speed up EV adoption in the country.

Currently, EVs make up only a fraction of the country's auto sales, mainly due to high battery costs and the lack of charging infrastructure.

The company expects electric vehicles to account for about 20% of its volumes in India by 2027.

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 the existing Jio-bp stations, as part of the deal.

Jio-bp recently launched its first mobility station in Maharashtra thus offering multiple fueling choices, including EV charging system.

The deal also suggest to explore the orientation of database for electric vehicles, operations support systems, software, pilot and commercial-scale business model and types of charging and swapping facilities. These will be used subject to techno-economic feasibility and necessary approvals.

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