Vibrant Media has beaten GroupM and Beehive to bag the Rs100 crore media business of Jio-bp, as per reports. Reliance BP Mobility Ltd (RBML), a joint venture between Reliance Industries Limited and UK’s bp. In October 2023, Reliance Industries’ in-house agency Vibrant Media roped in Madison Media’s chief operating officer, Karthik Lakshminarayan, as vice president.
In May last year, Jio-bp announced that it will offer high performance fuel at base price for the first time in India. It launched its diesel with ACTIVE technology. The additivised diesel was to be made available across 1,555 petrol pumps, to yield annual savings of up to Rs1.1 lakh per vehicle to truckers due to 4.3 percent improved fuel economy.
Operating under the “Jio-bp” brand, the joint venture aims to become a leading player in India’s fuels and mobility markets, leveraging Reliance’s presence across 21 states and its millions of consumers through the Jio digital platform.
India is expected to be the fastest-growing fuels market in the world over the next 20 years, with the number of passenger cars in the country estimated to grow almost six-fold over the period. RBML aims to expand from its current fuel retailing network of over 1,400 retail sites to up to 5,500 over the next five years. This rapid growth will require a four-fold increase in staff employed in service stations – growing from 20,000 to 80,000 in this period. The joint venture also aims to increase its presence from 30 to 45 airports in the coming years.