Reliance Industries unveils swappable, multipurpose batteries for EVs

In a big move towards adopting clean energy, Mukesh Ambani-controlled Reliance Industries Ltd showcased its swappable and multipurpose battery storage technology for electric vehicles (EVs) on Wednesday.

Reliance displayed removable and swappable batteries for electric vehicles (EVs) that can also be used to power household appliances through an inverter at a renewable energy exhibition, Reuters reported on Tuesday.

The idea is that a person can use one battery for mobility as well as for powering appliances at home, Reliance executives told Reuters.

The batteries can be swapped at Reliance's battery swap stations or re-charged by households using rooftop solar panels, which also it plans to sell, the executives added.

It is to be noted that battery storage solutions were a part of Reliance's bigger $10 billion green push towards clean energy projects. Earlier, the company said it aims to cut dependence on its mainstay oil-to-chemical business and be net zero carbon by 2035.

Two years ago at Reliance Industries’ Annual General Meeting (AGM) in 2021, Mukesh Ambani had informed his investors that the company will be investing Rs 75,000 crore over the next three years to build a new clean energy business.

The company acquired two battery companies for about $200 million in 2021 and 2022, respectively -- UK-based Faradion, which makes sodium-ion batteries, and Lithium Werks, which produces lithium iron phosphate (LFP) batteries.

“The combination of Lithium Werks with Reliance’s recently announced acquisition of Faradion Limited, a global leader in sodium-ion cell chemistry, further strengthens Reliance’s technology portfolio and provides it access to one of the world’s leading portfolio of LFP patents and a management team with vast experience of innovation in cell chemistry, custom modules, packing, and building large scale battery manufacturing facility," Reliance had said in a regulatory filing.

Reliance won an incentive last year to set up a 5 gigawatt hours (GWh) battery manufacturing facility under India's $2.4 billion programme that aims to boost local battery cell production.

The factory will be set up by 2026 and will make batteries and containerised energy storage solutions.

At the 46th Annual General Meeting (AGM) 2023, Mukesh Ambani said his company is working to establish a giga factory for batteries by 2026. In order to create a fully integrated ecosystem, the giga battery will produce battery chemicals, cells, and packs, all the way up to containerised energy storage systems.

"Our concurrent priority is to set up our Battery giga factory by 2026. It will manufacture battery chemicals, cells and packs, leading all the way up to containerised energy storage solutions, and will include a Battery Recycling facility to deliver a truly integrated ecosystem," Mukesh Ambani said at the 46th RIL AGM Meeting

"We will start with LFP chemistry which has been proven at scale for its safety, stability, and life, targeting to produce LFP based solutions at world beating lifecycle costs. Simultaneously, we are focused on fast-track commercialisation of our sodium ion battery technology. We will build on our technology leadership position by industrialising sodium ion cell production at megawatt level by 2025, and rapidly scale up to giga scale thereafter," he added.

Reliance displayed LFP chemistry-based batteries at the exhibition on Wednesday, Reuters reported.