Reliance introduces EV Batteries for Clean Energy
In a groundbreaking move towards clean energy, Indian oil refining powerhouse Reliance Industries has introduced cutting-edge swappable and multipurpose battery storage technology for electric vehicles (EVs). Led by the visionary billionaire Mukesh Ambani, Reliance showcased these removable batteries at a prominent renewable energy exhibition.
This innovative technology allows users to seamlessly transition between using the battery for mobility and harnessing its power to run household appliances through a specially designed inverter. Company insiders, speaking on condition of anonymity due to media restrictions, revealed this game-changing advancement.
These revolutionary batteries can be conveniently swapped at Reliance’s dedicated battery swap stations or recharged at home using rooftop solar panels, which will also be made available for purchase, according to the executives.
Part of Reliance’s ambitious $10 billion green initiative, the development of battery storage solutions marks a pivotal step in reducing reliance on traditional oil-to-chemical operations, aiming to achieve net-zero carbon emissions by 2035.
In a strategic move, Reliance acquired two prominent battery companies in 2021 and 2022, investing approximately $200 million. This includes the UK-based Faradion, renowned for their cutting-edge sodium-ion batteries, and Lithium Werks, a leading producer of lithium iron phosphate (LFP) batteries. The exhibition showcased the impressive LFP chemistry-based battery.
A comprehensive company presentation highlighted ongoing efforts towards customizable batteries catering to both businesses and individuals, as well as the development of intelligent swap stations and integrated charging networks. While Reliance does not intend to delve into EV manufacturing, it is set to forge powerful partnerships with established EV manufacturers.
Having secured a notable incentive last year, Reliance is poised to establish a substantial 5 gigawatt hours (GWh) battery manufacturing facility, a key milestone under India’s $2.4 billion program aimed at bolstering local battery cell production. This significant move underscores Reliance’s unwavering commitment to revolutionizing the clean energy landscape.
Reliance Industries Limited, with its headquarters in Mumbai, is a prominent Indian multinational conglomerate. The company operates across various sectors, encompassing energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance stands as India’s foremost public company, ranking at the top in terms of market capitalization and revenue within the nation, and it holds the distinction of being the 100th largest global corporation. Additionally, Reliance plays a pivotal role in India’s economy, serving as the country’s largest private taxpayer and exporter, contributing significantly to 7% of India’s total merchandise exports.
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