India Inc is planning a huge energy reset, as the heavyweight companies including Reliance Industries, Hero Motocorp, and Adani are readying plans to enter battery manufacturing and battery pack assembly with investments running into several billion dollars over the next decade or so, according to a new report in factordaily.com.
The report said that Reliance Industries, the country’s largest company by revenues, is the most ambitious of the lot, and the company has aggressive plans to establish a factory that would produce Lithium-Ion (Li-Ion) batteries of 25 gigawatt-hours (GWh) capacity, citing multiple sources. “There is a lot happening in the EV space, and Reliance has long been in the energy business. Add to that, it now is a maker of phone and has telecom towers – all of them powered by Li-Ion battery,” the unidentified source close to Reliance reportedly told factordaily.com. “Not only Reliance, others like JSW, Adani, and Mahindra are also looking at the battery pack business,” factordaily.com quoted the source as saying. Read More…
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