Reliance & Mahindra Announce Mega Partnership For Electric Vehicles: Battery, Manufacturing & More
Reliance BP Mobility (RBML) and Mahindra Group have signed a non-binding agreement for creation of Electric Vehicle (EV) products and services.
RBML is the fuel retailing and battery charging focused arm of Reliance Industries (RIL).
What It Covers
The agreement is for a broad collaboration which could extend to collaboration with any Mahindra Group company.
RIL stated that the MoU “also covers evaluating charging solutions by Jio-bp for Mahindra vehicles 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 Mahindra Group.”
Jio-bp Mobility Stations and EV charging and swapping points could be set up in Mahindra Group’s channel partner locations.
While the partnership is nothing new in the EV and battery technologies space, it assumes significance due to the weight of the corporate giants involved.
It is all the more notable since it may lead to standardisation of battery technology with Mahindra as an Original Equipment Manufacturer (OEM), and RBML as a fuel retail, EV charging, and battery swapping operator.
The unique thing about the agreement is that it’s the first time an OEM has partnered with a fuel retailer for developing EV tech.
Accelerating EV Adoption
A major obstacle in the way of wider adoption of swapping technology is the lack of standardised batteries.
As a result, EVs have had to rely on charging infrastructure due to the multiplicity of charging standards.
EV adoption in India could get a boost since the partnership would focus on high-performance and swappable batteries that will help in dispelling range anxiety.
It would benefit consumers who can theoretically bring in a depleted battery to their nearest swapping station and within minutes leave with fully charged batteries by paying a nominal fee.
There are implications for the country at large, since it could help realize India’s net-zero emissions goals faster.