Jio-bp, a joint venture between Reliance Industries and global energy major bp, aims to expand its retail infrastructure while enhancing customer experience to strengthen its presence in the downstream market.
The company aims at expanding its electric vehicle charging stations to 100,000 in the next 10-12 years in line with the government’s push to support EV charging infrastructure across the country to help the country realize its net zero targets, an official source told FE. In addition, Jio-bp also plans to set up 1,000 retail outlets to sell compressed biogas produced by CBG plants set up by Reliance.
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The company has been the first to deploy 480 kW chargers at NMACC Mumbai, the fastest in the country and presently 95% of its charging stations have at least one fast charger, the source said. Last year, the company also partnered with Piramal Realty to provide EV charging solutions across all Piramal’s residential projects in the Mumbai Metropolitan Region.
“The company has plans for scaling up the retail business in terms of adding more fuel stations. While its main objective is to remain very focused on creating a very superior and differentiated customer experience,” said the source.
Other than expanding infrastructure in the EV and compressed biogas segments, the company is also positive of setting up 180 retail outlets in the current fiscal for the sale of diesel and petrol.
In the upcoming financial year, the company is hopeful to register healthy marketing margins given the weakness in global crude oil prices which are presently hovering at around $74 per barrel.
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Jio-bp is targeting a healthy topline at over Rs 50,000 crore in the current financial year 2024-25 and hopes to register good bottom lines, as per the source.
In addition to fixed charging, Jio-bp provides battery-swapping services through its extensive network of swapping stations. The company collaborates with demand aggregators, original equipment manufacturers, and technology partners to accelerate EV adoption in the country.
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