A joint venture of billionaire Mukesh Ambani’s Reliance Industries Limited (RIL) and energy major BP has opened one of the country’s largest EV charging hubs in Delhi, as the duo scale up the fuel-retail network, offering multiple fuel choices, including EV charging infrastructure.
Reliance BP Mobility Limited, operating under the brand name Jio-bp, is working with multiple demand aggregators, original equipment manufacturers (OEMs) and technology partners with a vision of being the leading EV charging infrastructure player in India, RIL had said last week.
“Jio-bp has constructed and launched one of the country’s largest EV charging hubs in Dwarka, Delhi with BluSmart as its primary customer,” it had said.
RBML had introduced its first Jio-bp branded mobility station at Navde, Navi Mumbai in October last year. And since then, it has been scaling up the network.
In 2019, BP had bought a 49% stake in more than 1,400 petrol pumps and 31 aviation turbine fuel (ATF) stations owned by Reliance for $1billion. The existing petrol pumps of Reliance had since been transferred to the joint venture, which plans to scale them up to 5,500 by 2025.
Reliance holds the remaining 51% stake in Reliance BP Mobility Limited (RBML). RBML has already received the marketing authorisation for transportation fuels.
Petrol pumps with RBML have since increased to 1,448, according to latest information available from the Petroleum Ministry. RBML had 1,427 outlets at the end of September 2021.
India’s auto fuel retailing is dominated by public sector oil companies that own a majority of the 81,099 petrol pumps in the country.
Rosneft-backed Nayara Energy is the largest private fuel retailer with 6,496 pumps. Shell has 310 petrol pumps.
India’s market for fuels and mobility is rapidly growing. It is expected to be the fastest-growing fuels market in the world over the next 20 years.