Jio-bp Sets Ambitious Expansion Goals: 1 Lakh EV Charging Stations And 1,000 Compressed Biogas Retail Outlets In Next Decade

Jio-bp, the joint venture between Reliance Industries and global energy giant bp, is set to significantly expand its presence in India’s downstream energy market by enhancing retail infrastructure and customer experience.

According to a report by the Financial Express, the company is gearing up to play a pivotal role in supporting India’s transition to clean energy, aligning with the government’s push for electric vehicle (EV) adoption and sustainable fuel alternatives.

A company official confirmed that Jio-bp aims to set up 1 lakh EV charging points in the next 10 to 12 years, a step that will go a long way in strengthening the nation's EV ecosystem and net-zero vision.

The company also plans to open 1,000 retail stores for selling compressed biogas (CBG) that will be manufactured at CBG plants established by Reliance Industries.

Jio-bp has already left its imprint on the EV charging segment by installing India's fastest 480 kW chargers at the Nita Mukesh Ambani Cultural Centre (NMACC) in Mumbai.

Currently, 95 per cent of its charging stations have at least one fast charger, cementing its focus on offering efficient EV charging solutions.

The organization is also working in partnership with leading real estate companies, such as Piramal Realty, to develop EV charging stations in residential developments in the Mumbai Metropolitan Region.

"The company has ambitions for expanding the retail business in terms of having more fuel stations. Even though its core aim is to stay extremely focused on creating a very superior and differentiated customer experience," FE's source added.

Along with its EV and biogas growth, Jio-bp is set to add 180 new retail stores in the current fiscal year for retailing petrol and diesel, making it stronger in the conventional fuel business.

The firm is upbeat about decent marketing margins in the next financial year, helped by falling global crude oil prices, which are around $74 a barrel currently.

Jio-bp is aiming at a strong topline of over Rs 50,000 crore in FY 2024-25 with high profitability expectations.

In addition, the company is further expanding its clean energy business by providing battery-swapping solutions across a wide network, engaging closely with OEMs, technology partners, and demand aggregators to enable increased EV adoption in India.