BP and Reliance Industries (RIL) on Thursday announced the commencement of their new fuel retailing and mobility joint venture (JV). The JV will now begin rebranding RIL fuel retail outlets to Jio-BP.
The newly launched JV company is named Reliance BP Mobility (RBML), the firms said in a joint statement. The new entity will also look to provide electric vehicle charging and other low-carbon solutions over time.
RIL and BP had signed a definitive agreement for the JV in December last year and had then said that the retail operations would be run under the Jio-BP branding.
