Mahindra Group joins hands with Reliance BP Mobility to grow EV business

Mahindra Group, a major player in the sports utility vehicle (SUV) and tractor market, has partnered with Reliance BP Mobility Limited (Jio-bp) to develop electric vehicles and install charging stations. Both the companies have signed MoUs with Mahindra’s electric three and four wheelers to develop charging solutions for small commercial vehicles. The possibility of manufacturing EVs will also be worked out in this partnership.

Mahindra Group said that the objective of this partnership is to increase the number of EVs in the country. For this, high performance and swappable batteries will be made available. Along with this, Jio-bp will also help in charging solutions for Mahindra’s electric vehicles. With this partnership, Mahindra Group wants to increase its share in the country’s EV market. Mahindra Group plans to launch a wide range of battery-electric variants of its vehicles in the next few years. Along with this, it is also looking to start battery replacement service for its electric vehicles. With this, those driving electric vehicles will not have trouble in traveling long distances.

With this, Mahindra Group will also get a new business of providing batteries. The sales of electric vehicles in the country are currently very low in comparison to the total automobile sales. The high cost of battery and lack of charging infrastructure are the major reasons behind this. Jio-bp recently said that it has started charging and battery replacement services for electric vehicles.

Mahindra Group is looking to strengthen its electric vehicle business while expanding its existing portfolio of vehicles powered by petrol and diesel. Mahindra Group estimates that by 2027, electric vehicles will account for about 20 percent of its total sales in the country. The partnership with Jio-bp may help Mahindra Group consolidate its position in the electric vehicles market.

American electric car maker Tesla also wants to start business in India’s EV market. The company has requested the central government to reduce the import duty on electric vehicles. However, the country’s automobile companies are opposing it. He has said that the reduction in import duty will affect the manufacturing of these vehicles in the country.

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