bp Ventures Invests USD 9 Million In Zingbus To Support India's Intercity EV Transition
bp Ventures has led a $9 million Series A funding round for Zingbus, a platform focused on intercity bus services in India. The funding aims to expand Zingbus’ operations and support its collaboration with Jio-bp pulse for electrifying bus routes.
bp Ventures Invests USD 9 Million In Zingbus To Support India's Intercity EV Transition
In Series A funding round bp Ventures has invested $9 million USD into Zingbus. Zingbus has created a tech solutions platform for electric bus operators and their customers travelling between cities.
India has worlds second largest road network that is around 6.4 million kilometers and around 50 million people a day travel between its cities. Zingbus was founded to address some of the existing challenges of intercity mobility, including potentially unsafe boarding points and unreliability by enabling transport that is accessible and reliable.
Partnership with Jio-bp Pulse
Zingbus has partnered with Jio-bp pulse to support the shift from internal combustion engine (ICE) buses to electric vehicles (EVs). Jio-bp pulse, an electric mobility venture by Reliance and bp, will provide charging infrastructure and convenience services for bus operators using Zingbus’ platform.
Jio-bp operates one of India’s largest EV charging networks, with over 5,000 charge points across cities and highways.
Since its inception in 2019, Zingbus has worked with small and medium sized bus operators to serve more than two million users across 300 Indian cities.
Reliance BP Mobility Limited (RBML) is an Indian fuels and mobility joint venture between Reliance Industries Limited (RIL) and bp, operating under the brand ‘Jio-bp’.
Kartikeya Dube, Head of Country (HoC), bp India, said, “At bp we are excited to further enhance our suite of energy and mobility offerings in line with the aspirations of the people of India. Enabling the rapid expansion of electric vehicles in addition to providing top class active fuels and convenience offerings, furthers our ambition to provide our customers with e-mobility options."
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