India’s Mahindra Group announced on Wednesday, a collaboration with Jio-bp, a joint venture between Reliance Industries Ltd and BP Plc, to investigate the development of goods and services to support the conglomerate’s electric car drive. The company will study Jio-charging bp’s and battery swapping technology for its electric three- and four-wheelers, quadricycles, and small commercial vehicles under the non-binding agreement.
To help accelerate EV adoption in the country, the alliance will look into business concepts such as mobility as a service and battery as a service. EVs now account for a small percentage of total auto sales in the United States, owing to high battery costs and a lack of charging infrastructure. In October, Jio-bp announced that it had begun offering charging and battery switching services for electric vehicles in India.
Mahindra is also seeking to grow its electric vehicle business, and has considered raising cash or splitting it off as a distinct division. By 2027, the business anticipates electric vehicles to account for roughly 20% of its volume in India.
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