Jio-Bp To Set Up EV Charging Infra At Omaxe Properties
Leading real estate developers Omaxe and Jio-bp—a fuel and mobility joint venture between Reliance Industries Limited (RIL) and bp on June 9, 2022 announced their partnership to set up a battery charging ecosystem for electrical vehicles.
According to the agreement, Jio-bp will set up its Electric Vehicles (EV) charging and swapping infrastructure at various Omaxe properties across Delhi, Noida, Greater Noida, Faridabad, Ghaziabad, New Chandigarh, Ludhiana, Patiala, Amritsar, Jaipur, Sonipat, and Bahadurgarh in a phased manner.
It will establish 24x7 EV charging infrastructure for two and four wheelers at Omaxe properties. Jio-bp has been working with developers and real estate players in the country. Last year, Jio-bp constructed and launched two of India’s largest EV charging hubs. Leveraging the best of Reliance Industries Limited (RIL) and bp’s strengths in electrification, Jio-bp is creating a charging ecosystem that will benefit all the stakeholders in the EV value chain.
The JV’s EV services operate under the brand Jio-bp pulse, and with the Jio-bp pulse mobile app, customers can easily find charging stations nearby and seamlessly charge their electric vehicles. In the last 34 years, Omaxe has established a strong footprint in several cities of North and Central India.
It has delivered a wide range of real estate projects – from integrated townships to offices, malls and high street projects. The company is committed to ushering better customer experience through environmentally-friendly mobility, innovative design and architecture and facilities in line with its philosophy of customer-centricity.
Operating under the brand ‘Jio-bp’, Reliance BP Mobility Limited (RBML) is an Indian fuels and mobility joint venture between Reliance Industries Limited (RIL) and bp. The joint venture leverages Reliance’s presence across the country and its millions of consumers through the Jio digital platform.
Bp brings its extensive global experience in high-quality differentiated fuels, lubricants, retail, and advanced low carbon mobility solutions. In addition to marketing conventional fuels, RBML provides advanced mobility solutions and alternate fuelling options to its customers such as Electric Vehicles (EV) charging points, and Battery Swapping Stations (BSS).
The company’s aviation brand ‘air bp-Jio’ is a leading supplier of aviation turbine fuel across India. The brand ‘Jio-bp Fuel4U’ caters to on-demand doorstep delivery of diesel and is a market leader in the segment.
With 129.25 million square ft. of delivered space in real estate and construction contracting, Omaxe is one of India’s leading and trusted real estate company. The brand ‘Omaxe’ was founded in 1987 by visionary first-generation entrepreneur and civil engineer Rohtas Goel to undertake construction and contracting business.
Subsequently, the company diversified into real estate sector in 2001 and got listed on both BSE Ltd and National Stock Exchange of India Ltd in 2007. The company has developed its real estate projects in 27 cities across eight states and is currently undertaking the construction of 21 real estate projects – three group housing, 12 townships, six commercial malls, office spaces, Hotels and SCOs.
EV Market In India
The Indian EV market is also evolving fast as close to 0.32 million vehicles were sold in 2021, up 168 per cent YoY. Ongoing electric vehicle adoption in India is based on the Paris agreement to reduce carbon emissions, to improve the air quality in urban areas and reduce oil imports.
According to the India Brand Equity Foundation (IBEF), the Indian automobile industry is the fifth largest in the world and is expected to become the third largest by 2030. As per India Energy Storage Alliance (IESA), the Indian EV industry is expected to expand at a Compound Annual Growth Rate (CAGR) of 36 per cent.
Over the last three years, 0.52 million (near 5 lakh) EVs were registered in India, according to the Ministry of Heavy Industries. EVs recorded robust growth in 2021, supported by the implementation of favourable policies and programmes by the government.
Global Market Of EV
The global electric vehicle (EV) market is developing at a rapid pace. According to EV volumes, overall electric vehicle reached a global share of 8.3 per cent in 2021 from 4.2 per cent in 2020 with 6.75 million (nearly 67 crore) vehicles on the road.
This is an increase of 108 per cent as of 2020. EVs are gaining attention across the globe as they help reduce emissions and depletion of natural resources.