CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Mahindra (M&M) and Reliance BP Mobility ink EV partnership

By Munikoti Rochan

12:56, 8 December 2021

An illustration of an electric sedan being charged.
Electric vehicle infrastructure development – Photo: Shutterstock

India's Mahindra Group (M&M) and fuel retailer Reliance BP Mobility (RBML) on Wednesday said they will combine efforts to develop electric vehicle (EV) products and related services, in addition to exploring synergies in low-carbon and conventional fuels.

The two sides have inked a non-binding memorandum of understanding (MoU) that will also examine charging solutions for Mahindra’s EVs, including the latter’s small commercial vehicles (e-SCVs) that can transport up to four tonnes of cargo.

EV products and related services

“The partnership aims to leverage the strengths of both companies in the areas of EV products and services”, Mahindra & Mahindra said in an 8 December stock market statement. “Mahindra Group and its channel partner locations will be evaluated for setting up of Jio-bp Mobility Stations and EV charging and swapping points apart from utilizing existing Jio-bp stations”, it added.

Additionally, the parties will explore business models like mobility-as-a-service (MaaS) and battery-as-a-service (BaaS), wherein Jio-bp could provide charging solutions to vehicles manufactured by Mahindra.

RBML, a joint venture between refining giant Reliance Industries (RIL) and the UK’s BP Plc, sells regular and premium-quality automotive fuels in the sub-continent, under the ‘Jio-bp’ brand name. It recently opened its first mobility station in the western Maharashtra state, which offers multiple fuelling choices, including EV charging points.

What is your sentiment on BP?

35.17
Bullish
or
Bearish
Vote to see Traders sentiment!

COIN

139.00 Price
-5.880% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.15

GME

15.13 Price
-2.470% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.13

ALT

5.92 Price
-8.840% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.05

TSLA

237.98 Price
-2.230% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.12

Environment-friendly cars and bikes

M&M's rival, JLR-parent Tata Motors dominates the domestic four-wheeler EV segment for the moment, with the electric-versions of its Nexon SUV and Tigor sedan.

Meanwhile, about a dozen companies, including several well-funded start-ups like Softbank Group-backed Ola Electric, have rolled out electric scooters and motorbikes in the country.

In October, Tata Motors said it raised INR75bn ($993.7m), from TPG's Rise Climate Fund and Abu Dhabi’s state holding company ADQ, to expand its eco-friendly mobility business, valued at $9.1bn.

In September, two-wheeler major TVS Motor Company acquired a majority stake in Swiss electric-bike brand EGO Movement, a maker of e-scooters, e-bikes and e-cargo bikes.

Read more: ABB India wins ‘smart city’ contract for Indore

Markets in this article

BP.
BP - GBP
4.683 USD
-0.03 -0.640%

Related topics

Rate this article

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading