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October 26, 2021

The retail fuel joint venture of Reliance Industries Ltd (RELI.NS) and BP (BP.L) has started selling multiple fuels including services for charging and battery swapping for electric vehicles in India, it said in a statement on Tuesday. India, the world's third-biggest carbon emitter, is offering incentives to motorists as it seeks to speed up the adoption of electric vehicles in the country.

Reliance BP Mobility Ltd opened its first station under the Jio-BP brand at Navi Mumbai, and in the coming months plans to rebrand the 1,400 stations that belonged to Reliance before the joint venture was formed in 2019, it said. BP Chief Executive Bernard Loony last week said the plan is to raise the number of fuel stations to 5,500 by 2025.

BP has a 49% stake in the joint venture while Reliance, operator of the world's biggest refining complex, holds the remainder. The joint venture said India's demand for fuel and mobility is expected to grow rapidly over the next two decades.

"Jio-BP Mobility Stations are designed to help meet this growing demand ... They bring together a range of services for consumers on the move - including additivised fuels, EV charging, refreshments, and food, and plan to offer more low carbon solutions over time," it said.