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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

Jio-bp and Mahindra Group sign MoU for EV and low-carbon solutions

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3 min read Last Updated : Dec 09 2021 | 1:39 AM IST

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 hands.

With Mahindra, Jio-bp will also be identifying synergies in low-carbon and conventional fuels. A RIL official said that the agreement is for a broad collaboration which could extend to collaboration with any Mahindra Group company.