Reliance Industries, led by Mukesh Ambani, showcased its swappable and multipurpose battery storage technology for electric vehicles (EVs) at a renewable energy exhibition. This is a significant step towards adopting clean energy.
The batteries can be used to power both EVs and household appliances, and can be swapped at Reliance’s battery swap stations or recharged using rooftop solar panels. This gives users the flexibility to use a single battery for both their transportation and domestic power needs.
Reliance’s move into battery storage solutions is part of its $10 billion green push. The company aims to cut its dependence on oil and gas and achieve net zero carbon emissions by 2035.
The company has acquired two battery companies for about $200 million in 2021 and 2022, respectively — UK-based Faradion that makes sodium-ion batteries, and Lithium Werks, that produces lithium iron phosphate (LFP)batteries. Though they do not plan to manufacture EVs itself, but will partner with existing EV makers.
The company has also won a government incentive to set up a 5 gigawatt hours (GWh) battery manufacturing facility in India. This factory will be operational by 2026 and will produce batteries and containerized energy storage solutions.
Reference- Reuters, Business Today, Economic Times, CNBC, Reliance Industries PR