As part of a major push toward renewable energy, Indian oil refining giant Reliance Industries unveiled its interchangeable and multifunctional battery storage technology for electric vehicles (EVs) on Wednesday.
At a renewable energy expo, Reliance, headed by billionaire Mukesh Ambani, exhibited swappable and replaceable batteries for electric vehicles that can also be used to power home appliances via an inverter. One battery is intended for mobility and household appliances, according to firm officials who spoke at the event but asked not to be identified because they were not permitted to talk with the media.
The executives stated that the batteries may be changed at Reliance’s battery swap stations or recharged by homes using rooftop solar panels, which the company also aims to offer.
Battery storage technology development is a component of Reliance’s larger $10 billion green drive for sustainable energy initiatives. By 2035, the company hopes to become net carbon neutral and reduce Reliance on its core oil-to-chemical operation.
The business purchased the UK-based sodium-ion battery manufacturer Faradion and the lithium iron phosphate (LFP) battery manufacturer Lithium Werks for around $200 million each in 2021 and 2022. At the expo, Reliance presented a battery using an LFP chemistry.
During the occasion, a company presentation revealed that it is also developing customized batteries for commercial and residential use, intelligent swap stations, and integrated charging networks. The presentation indicated Reliance will work with EV companies rather than enter the EV manufacturing business.
Reliance was awarded a financial incentive last year to build a 5 GWh battery manufacturing plant as part of India’s $2.4 billion effort to increase domestic battery cell production.
By 2026, the facility will be operational and producing batteries and containerized energy storage systems.
India’s approach to reducing pollution in major cities and achieving its larger climate goals relies heavily on clean car technologies. Because the batteries are imported, electric vehicles are now just a small portion of overall sales in India. Another factor is a lack of infrastructure for charging the vehicles.
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