Mukesh Ambani ups bet on battery-swapping under agreement with Mahindra

RIL's second agreement to explore battery swapping in six months; may lead to standardisation of battery technology with OEM and fueling operator joining hands

Reliance BP Mobility (RBML), the fuel retailing and battery charging focused arm of Mukesh Ambani-led Reliance Industries (RIL), and Mahindra Group have forged a non-binding agreement for exploring creation of Electric Vehicle (EV) products and services.

According to sector watchers, such agreements are not novel in the nascent EV and battery technologies space, but it gains significance due to the scale of the two corporate behemoths involved. The partnership is also important because it may lead to standardisation of battery technology with Mahindra, an Original Equipment Manufacturer (OEM), and RBML, a fuel retail, EV charging, and battery swapping operator joining