- 09 Dec 2021
- ICICIdirect Research
M&M signs MoU with Reliance BP Mobility Ltd (Jio-BP) to explore charging solutions for electric vehiclesM&M - 1371 Change: -10.40 (-0.75 %)
News: Mahindra group has entered into non-binding MoU with Jio-BP for exploring charging solutions for electric vehicles including battery swapping technology for electric 3-W as well as innovative solutions in the areas of Mobility as a Service (Maas) and Battery as a Service (Baas). It covers evaluating charging solutions for Mahindra vehicles in the 3-W, PV, e-Small Commercial vehicles domain (captive fleet & last mile mobility).
Views: M&M is at the forefront of electrification drive in India with dominant position in the electric 3-W space with product offering in the e-rickshaw as well as passenger vehicle segment. The company has aggressive product launch pipeline in this space. Association with such industry players will help company develop associated ecosystem around electric vehicles and offer attractive propositions to its customers. Jio-BP stations (including EV charging and swapping points) are likely to be set up at Mahindra group and its channel partners locations. This will help accelerate planned Jio-BP network expansion. Also, services to EVs made by M&M will be provide groeth opportunities.