In a bid to boost the adoption of electric vehicles (EVs), Indian conglomerate, Reliance Industries, has revealed its innovative swappable, multipurpose battery storage technology for EVs.
What Happened: As reported by Reuters, Reliance Industries, helmed by Mukesh Ambani, displayed its novel removable and swappable batteries for EVs at a renewable energy exhibition in Greater Noida, India. The batteries can also double as a power source for household appliances via an inverter.
According to company executives, who requested anonymity, customers can utilise one battery for both mobility and household power. Reliance will have designated battery swap stations or recharged at home using rooftop solar panels, which the company also intends to market.
This battery innovation is part of Reliance’s extensive $10 billion green initiative. The company is planning to diversify from its oil-to-chemical business and aims to achieve net-zero carbon emissions by 2035.
Reliance has also secured incentives to set up a 5-gigawatt hours (GWh) battery manufacturing facility under India’s $2.4 billion scheme to enhance local battery cell production. The factory is slated to be operational by 2026.
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With the high cost of imported batteries and a scarcity of charging infrastructure hindering wider EV adoption in India, Reliance’s new technology aims to mitigate these issues and promote EV usage.
Why It Matters: The Indian government has been actively encouraging the use of EVs as a part of its commitment to reduce carbon emissions. However, the cost of imported batteries and insufficient charging infrastructure have been significant obstacles. This move by Reliance Industries is a crucial step in overcoming these hurdles. The company offers swappable batteries that consumers can recharge at home, making EVs a more viable and sustainable option for the Indian market.
Moreover, the proposed battery manufacturing facility aligns with the government’s initiative to boost local production and reduce dependency on imports.
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