Jio-bp and TVS Motor Company are collaborating to explore the creation of a robust public EV charging infrastructure for electric two-wheelers and three-wheelers in the country, building on Jio-bp’s growing network in this space.
As per this partnership, the customers of TVS electric vehicles are expected to get access to the widespread charging network of Jio-bp, which is also open to other vehicles. Leveraging the strength of both companies, the said partnership aims at creating a regular AC charging network and a DC fast-charging network, the company said.
This will align with Jio-bp and TVS’ commitment to providing vast and reliable charging infrastructure to their customers. In addition to creating solutions for seamless customer journey on TVS and Jio-bp apps, both companies will bring the best of their global learnings in electrification and apply them to the Indian market to create a differentiated customer experience that delights the consumer.
The company further added that Jio-bp is operating its EV charging and swapping stations under the brand Jio-bp pulse. With the Jio-bp pulse app, customers can easily find stations nearby and charge their electric vehicles. Further, with a vision of being among India’s largest EV networks, Jio-bp is creating a charging ecosystem that will benefit all the stakeholders in the EV value chain.
To lead the way to electrification, the company is readying a complete portfolio of two and three-wheelers in the range of 5-25kW, all of which will be in the market within the next 24 months. This partnership will help drive EV adoption in the country among two and three-wheeler customers who aspire to take a step forward in going electric. The rapid proliferation of these charging stations will broaden both the companies’ horizons and expedite India’s net-zero emission goals.
TVS Motor Company has made significant strides towards developing new electric mobility products and related technologies. Since its launch, the company has already sold over 12,000 units of its high-speed electric scooter TVS iQube. The TVS iQube is a connected and practical EV that caters to the daily commuting needs of customers. The company has committed Rs. 1,000 crores towards EV business, a good portion of which has already been invested, the company concluded.
The growth potential of EVs in India
The Indian electric vehicle market was valued at USD 1,434.04 billion in 2021, and it is expected to reach USD 15,397.19 billion by 2027, registering a CAGR of 47.09 per cent during the forecast period (2022-2027), according to a Mordor Intelligence report.
The report further added that the COVID-19 pandemic had limited domestically produced electric vehicles due to the shutdown of manufacturing facilities and lockdowns. However, as restrictions eased, EVs witnessed optimistic growth as consumers became inclined toward affordable eco-friendly transportation supported by government incentives.
The automotive sector in India is dominated by two-wheelers (scooters, motorbikes) and three-wheelers (autos and rickshaws) that play a significant role in last-mile mobility in the country. Rising government emphasis and focus on private and government players’ partnership to enhance the EV ecosystem in the country. Increasing investments and product launches by major OEMs into the country and their focus on localising supply chain facilities are expected to create a positive outlook in the market.