The revolutionary idea that a person can use the same battery to power both personal transportation and residential appliances is promoted by the new gadget, which was on display at a renewable energy exhibition by Mukesh Ambani-led Reliance.
Reliance Industries, owned by Mukesh Ambani, the richest man in Asia and India, aims to disrupt the electric vehicle (EV) market significantly. At the ‘Battery Show’ event in Greater Noida, RIL recently showcased its new product, swappable and multipurpose battery storage technology for EVs.
The item is a component of the Ambani-led company’s $10 billion renewable energy effort. It’s interesting to note that the new RIL product’s application goes beyond only EVs because the replaceable and interchangeable batteries can also be used to power home appliances with the help of an inverter, according to Reuters. According to estimates, the Indian EV battery industry will be worth $5.9 billion (more than Rs 49000 crore) in 2023 and $10.14 billion by 2028.
Mukesh Ambani’s New Goal in the EV Market
The unusual idea that a person can use the same battery for both transportation and powering domestic appliances is promoted by the new gadget, which was on display at a renewable energy exhibition. According to Reuters, unnamed executives, these batteries will be exchangeable at Reliance’s battery swap stations or recharged by homes utilizing rooftop solar panels.
The novel idea of Mukesh Ambani, that a person can use the same battery for both transportation and powering domestic appliances is promoted by the new gadget, which was on display at the Renewable Energy Show. According to Reuters, which cited unnamed executives, these batteries can be swapped at Reliance’s battery swap stations or refilled by homes utilizing rooftop solar panels. The new product comes after Reliance Industries Ltd. made two significant acquisitions. For around $200 million, it acquired Lithium Works and Faradion, two battery startups, there in 2021. According to a Reliance executive visiting the booth, the concept is already in the engineering and manufacturing stages and might be available to clients early next year.
Reliance’s New Energy
This difficult “trilemma” is strategically addressed by the New Materials business. Ambani stressed that because renewable energy sources like solar and wind are always available, it is not only growing more and more economical, surpassing the cost of non-renewable alternatives, but it is also sustainable. Green energy most importantly provides energy security by releasing India from reliance on substantial energy imports.
Reliance Industries Ltd. takes a risky step in this ambitious project to reform the energy sector in India and move it toward a more secure, sustainable, and profitable state.
