Jio-bp, a joint venture between Reliance Industries and global energy major bp, is focused on expanding its retail infrastructure and enhancing customer experience to strengthen its presence in the downstream energy market.

The company plans to establish 100,000 electric vehicle (EV) charging stations over the next 10-12 years, aligning with the Indian government's efforts to boost EV charging infrastructure and achieve net zero targets. Additionally, Jio-bp intends to open 1,000 retail outlets to sell compressed biogas (CBG) produced by Reliance's CBG plants.

Jio-bp has introduced 480 kW chargers at NMACC Mumbai, marking the deployment of the fastest EV chargers in the country. Currently, 95% of its charging stations are equipped with at least one fast charger. The company has also collaborated with Piramal Realty to provide EV charging solutions across all of Piramal's residential projects in the Mumbai Metropolitan Region.

Alongside its EV and CBG initiatives, Jio-bp is set to establish 180 retail outlets in the current fiscal year for the sale of diesel and petrol.

The company anticipates strong marketing margins in the upcoming financial year, supported by the current decline in global crude oil prices, which are approximately $74 per barrel.

News source: Financial Express