Home >Companies >News >Reliance BP Mobility  to invest up to 3,000 cr in fuel retail business

Reliance BP Mobility Ltd (RBML), a joint venture of Reliance Industries (RIL) and UK’s energy major BP Plc, will set up battery swapping stations at its fuel outlets and spend around 3000 crore to expand the fuel retail network, two officials aware of the plans said. RIL and BP, which set up RBML this month, will operate under the Jio-BP brand. BP will pay 7,000 crore to RIL for its 49% stake in the venture.

“In addition to conventional fuel options, RIL plans to provide a gamut of alternative energy options to its customers. This includes electric vehicles (EV) charging points, battery swapping stations, freight aggregation," said one of the two people cited above, both of whom spoke under the condition of anonymity.

RIL did not reply to an email sent on Monday.

RBML plans to expand fuel retail outlets to over 5,500 from the present over-1,400. It also plans to build full-stack electrolyzer and fuel cell solutions in India which will be used to run hydrogen fuel cell vehicles. “We will replace transportation fuels with clean electricity and hydrogen," RIL chairman Mukesh Ambani had said at the company’s annual general meeting on 15 July.

With its eye on building an optimal mix of reliable, clean and affordable energy with hydrogen, wind, solar, fuel cells, and battery, RIL aims to become ‘net carbon-zero’ by 2035.

RIL, said the second official, is expected to tap the expertise of BP for its EV charging and battery swapping initiatives.

BP had in 2018 June acquired Chargemaster, the UK’s largest EV charging company, and renamed it BP Chargemaster.

The company operates Polar, the largest EV charging network in the UK, with more than 7,000 public charging points, providing a comprehensive public charging solution.

In Union Budget 2019, acknowledging the need for a reliable EV infrastructure in India, finance minister Nirmala Sitharaman invited global companies to set up mega manufacturing plants in sunrise and advanced technology areas including lithium storage batteries and charging infrastructure.

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