Indian oil refining giant Reliance Industries showcased its innovative battery storage technology for electric vehicles (EVs) during a renewable energy exhibition, emphasising their commitment to clean energy. The company, spearheaded by billionaire leadership, unveiled swappable batteries for EVs that double as power sources for household appliances via inverters.

Reliance executives explained that the unique feature of these batteries lies in their versatility. One battery can serve both mobility needs and household power requirements. Although the executives couldn't be quoted due to lack of media authorisation, they shared that the batteries can be easily swapped at Reliance's dedicated battery swap stations or recharged using rooftop solar panels, which the company also plans to offer for sale.

This battery storage initiative is part of Reliance's broader $10 billion investment in green energy projects, aimed at reducing reliance on their traditional oil-to-chemical business. Their ultimate goal is to achieve net-zero carbon emissions by 2035. To bolster this effort, Reliance acquired two battery companies, Faradion (specialising in sodium-ion batteries) and Lithium Werks (known for lithium iron phosphate batteries), for a total of approximately $200 million. At the exhibition, Reliance showcased the lithium iron phosphate (LFP) chemistry-based battery.

Additionally, Reliance presented plans for customisable batteries catering to both individual consumers and businesses, along with intelligent swap stations and integrated charging networks. Despite not venturing into EV manufacturing directly, the company intends to collaborate with established EV manufacturers, as indicated in their presentation.

Reliance secured an incentive in the previous year to establish a 5 gigawatt hours (GWh) battery manufacturing facility under India's $2.4 billion program aimed at boosting local battery cell production. This facility, scheduled to be operational by 2026, will manufacture batteries and containerised energy storage solutions. In the broader context, Reliance's advancements in clean auto technology align with India's strategy to combat pollution in major cities and achieve ambitious climate goals, addressing challenges such as the high cost of electric vehicles due to imported batteries and a lack of charging infrastructure, hindering their widespread adoption in the country.

Source: Indiatimes