MoU explores integrated fast-charging, EV leasing, preferential tariffs and turnkey charging solutions across key cities and highway corridors
Jio-bp and Vertelo have signed a Memorandum of Understanding (MoU) to explore integrated electric vehicle charging and leasing solutions for India’s commercial electric mobility sector. The proposed partnership will focus on electric buses and trucks, combining Jio-bp’s fast-charging network with Vertelo’s commercial EV leasing and financing platform.
The collaboration aims to make electric commercial vehicles easier to deploy and operate by improving access to charging infrastructure and exploring more attractive charging tariffs for fleet operators. The companies will also examine opportunities to develop turnkey charging projects across identified cities and highway corridors.
Fast-charging network to support commercial EV fleets
Under the MoU, Jio-bp and Vertelo will explore ways to make charging locations easier for Vertelo’s customers to discover and access. The partnership will also look at offering preferential charging tariffs and developing charging infrastructure suited to the operational requirements of electric buses and trucks.
Commercial EV operators have different charging needs compared with private electric car owners, particularly because of their daily travel distances, battery capacities, operating schedules and route requirements. Reliable charging access is therefore critical to maintaining vehicle utilisation and controlling operating costs.
By bringing together charging infrastructure and leasing solutions, the two companies aim to offer fleet operators a more integrated approach to electrification.
Jio-bp, which operates as the mobility brand of Reliance BP Mobility Limited, has been expanding its EV charging network across priority locations and corridors in India. The partnership also aligns with the Government of India’s PM E-DRIVE initiative, which seeks to accelerate electric mobility adoption.
Companies target easier electrification for fleet operators
Sarthak Behuria, Chairman of Jio-bp, said commercial vehicles play a critical role in India’s economy by transporting passengers and goods across long distances. He described charging infrastructure as an important part of the country’s wider infrastructure requirements as electric mobility expands.
Akshay Wadhwa, Chief Executive Officer of Jio-bp, highlighted the different charging requirements of commercial fleets and said the collaboration would help the company explore practical charging and financing solutions for electric bus and truck operators.
For Vertelo, the partnership builds on its strategy of offering end-to-end electrification solutions, including vehicle leasing, financing, charging infrastructure, energy solutions and fleet management services.
Sandeep Gambhir, CEO of Vertelo, said commercial vehicles cover significantly more kilometres than passenger cars, making charging accessibility particularly important for their electrification. He added that Jio-bp’s infrastructure along major corridors could help connect more cities and communities.
Focus on India’s clean commercial mobility transition
Vertelo has been established and is managed by Macquarie Asset Management, with anchor investment from the Green Climate Fund. The company plans to mobilise US$1.5 billion over 10 years to accelerate India’s transition to clean commercial mobility.
The latest MoU represents an early step towards connecting commercial EV financing with charging infrastructure. However, the proposed solutions remain under exploration, and the companies have not announced specific investment commitments, charging station numbers or implementation timelines.
If implemented at scale, the collaboration could help address two important challenges for electric commercial vehicles: access to reliable charging and the upfront financial requirements associated with fleet electrification.
