Mahindra And Jio-BP Sign MoU For EV, Charging Solutions

• MoU to explore EVs' battery-swapping and charging solutions.

• Aims to install more charging stations in addition to the existing Jio-bp points.

• Mahindra to introduce four EVs by 2026, including two entirely new models.

Mahindra has closed ranks with Reliance BP Mobility Limited (operating under the name Jio-bp) to explore electric vehicle development and set up charging stations.

The Memorandum of Understanding (MoU) between the two companies aims to evaluate charging solutions by Jio-bp for Mahindra's electric three- and four-wheelers and small commercial vehicles. The partnership will also explore the manufacturing of EVs and identify low-carbon and conventional fuels as part of India's mission to achieve net-zero carbon emissions.

The collaboration will also help establish charging stations and swappable battery solutions at locations in addition to the existing Jio-bp stations. Mahindra could focus on offering the battery-swap for a nominal fee, mainly with light commercial EVs, as this method is unlikely to work for more complicated electric four-wheelers with the battery integrated into their structure.

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As part of the MoU, the two organisations will also explore business models like Mobility as a Service (MaaS) and Battery as a Service (BaaS), whereby Jio-bp could provide charging solutions to Mahindra's EVs.

Jio-bp recently launched its first facility in Maharashtra, offering multiple fueling choices and EV charging stations. Also, in a related development, Mahindra is readying a couple of EVs from the ground up as part of the nine models it plans to launch by 2026. Besides these two, the electric versions of the XUV300 and KUV100 NXT are also in the works.