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.