Under the non-binding deal, 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.
see photosJio-bp to consider making charging solutions for Mahindra’s electric vehicles
India’s Mahindra Group on Wednesday said it is partnering with Jio-bp, a joint venture of Reliance Industries Ltd and BP Plc, to explore manufacturing of products and services to strengthen the group’s electric vehicle push . Under the non-binding deal, 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.
The partnership will also explore business models such as mobility as a service and battery as a service to help accelerate EV adoption in the country. Currently, electric vehicles make up only a fraction of the country’s auto sales, mainly due to high battery costs and a lack of charging infrastructure. Jio-bp said in October that it has started offering services for charging and battery swapping for electric vehicles in India.
Mahindra is also looking to grow its EV business and is looking to raise funds or build it as a separate entity. The company expects the share of electric vehicles in India to be around 20% by 2027.
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