Mumbai, India – In a significant move toward clean energy solutions, Reliance Industries, one of India’s leading oil refining giants, unveiled its pioneering swappable and multipurpose battery storage technology for electric vehicles (EVs) on Wednesday. The showcase occurred at a prominent renewable energy exhibition, reinforcing the company’s commitment to sustainable and eco-friendly initiatives.
Led by billionaire industrialist Mukesh Ambani, Reliance Industries showcased removable and swappable batteries designed for electric vehicles. These innovative batteries not only power EVs but can also be utilized to energize household appliances through an inverter. The concept aims to provide a versatile and eco-conscious energy solution for both mobility and home applications.
Company executives present at the event, who spoke on the condition of anonymity as they were not authorized to speak with the media, revealed that these batteries could be effortlessly swapped at Reliance’s battery swap stations. Alternatively, households can recharge them using rooftop solar panels, a product Reliance also intends to offer. However, specific details regarding the commercial availability of these batteries were not disclosed.
Reliance’s foray into battery storage solutions is part of its larger $10 billion green initiative aimed at promoting clean energy projects. The company is determined to reduce its reliance on its core oil-to-chemical business and achieve a net-zero carbon footprint by 2035.
In pursuit of this goal, Reliance Industries acquired two battery companies in 2021 and 2022, investing approximately $200 million. These acquisitions included UK-based Faradion, specializing in sodium-ion batteries, and Lithium Werks, a producer of lithium iron phosphate (LFP) batteries. At the exhibition, Reliance showcased a battery based on LFP chemistry.
A presentation during the event also highlighted the company’s ongoing work on customizable batteries for both business and individual use, intelligent swap stations, and integrated charging networks. Interestingly, Reliance does not intend to enter the EV manufacturing sector but instead plans to collaborate with established EV manufacturers.
Furthermore, Reliance secured an incentive in the previous year to establish a 5-gigawatt hours (GWh) battery manufacturing facility as part of India’s $2.4 billion program to boost local battery cell production. The factory is slated for completion by 2026 and will focus on producing batteries and containerized energy storage solutions.
The pursuit of cleaner automotive technology aligns with India’s strategic efforts to reduce pollution in major cities and achieve broader climate goals. While electric vehicles currently constitute a small fraction of total automobile sales in India due to their high cost and a lack of charging infrastructure, initiatives like Reliance Industries’ swappable battery technology demonstrate a promising step toward a more sustainable future.
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2023-10-07 09:22:12.0
Reliance Introduces Interchangeable & Multi-Functional Batteries For Electric Vehicles
