Reliance Industries, the Indian oil refining giant led by billionaire Mukesh Ambani, unveiled its groundbreaking swappable and multipurpose battery storage technology designed for electric vehicles (EVs) today. This significant move reflects Reliance’s commitment to clean energy and a greener future. The company showcased these removable and swappable batteries, which not only power EVs but can also serve as a source of energy for household appliances through an integrated inverter, at a renewable energy exhibition.
The concept behind these innovative batteries is to offer consumers a versatile and efficient power solution. With a single battery, individuals can power their electric vehicles and, when not in use, employ it to run various household appliances. Reliance executives, who presented the technology at the event, emphasized the practicality and convenience of this multipurpose approach. They mentioned that these batteries can be conveniently swapped at Reliance’s battery swap stations or recharged using rooftop solar panels, which the company also plans to offer.
While the executives did not provide a specific timeline for the commercial release of these batteries, it is evident that this move is part of Reliance’s broader $10 billion initiative towards cleaner energy solutions. The company’s goal is to reduce its reliance on its traditional oil-to-chemical business and achieve a net-zero carbon footprint by 2035.
Reliance has already taken steps in this direction by acquiring two battery companies for approximately $200 million in 2021 and 2022. These acquisitions include UK-based Faradion, specializing in sodium-ion batteries, and Lithium Werks, a producer of lithium iron phosphate (LFP) batteries. At the exhibition, Reliance showcased LFP chemistry-based batteries, indicating a commitment to diverse battery technologies.
In addition to swappable batteries, Reliance’s presentation at the event revealed that the company is working on customizable batteries suitable for both businesses and individual users. The company is also investing in intelligent swap stations and integrated charging networks to bolster the EV ecosystem. Interestingly, Reliance has no plans to enter EV manufacturing directly but intends to collaborate with existing EV manufacturers, as per the presentation.
Reliance secured an incentive last year to establish a 5 gigawatt-hour (GWh) battery manufacturing facility under India’s $2.4 billion program aimed at boosting local battery cell production. The factory, set to become operational by 2026, will manufacture batteries and containerized energy storage solutions.
Clean automotive technology plays a pivotal role in India’s strategy to reduce pollution in major cities and achieve broader climate goals. Currently, electric vehicles account for only a fraction of total vehicle sales in India, primarily due to their high cost and the reliance on imported batteries, coupled with a lack of widespread charging infrastructure. The government is actively promoting swappable battery technology to reduce costs and encourage greater adoption of electric vehicles.
Reliance’s introduction of swappable, multipurpose batteries represents a significant step towards making electric mobility more accessible and environmentally friendly in India, aligning with the nation’s commitment to sustainability and reduced pollution.
