Reliance Infra, owned by Anil Ambani, brother of Asia's richest man Mukesh Ambani, plans to enter the business of making electric cars and its batteries. Reuters'…
Reliance Infra, owned by Anil Ambani, brother of Asia's richest man Mukesh Ambani, plans to enter the business of making electric cars and its batteries. Anil Ambani's Reliance has hired former BYD India chief Sanjay Gopalakrishnan as a consultant on the new plan, Reuters reported.
Ambani's company has hired an external consultant to conduct a 'cost feasibility' study on what it would cost to set up an electric vehicle manufacturing plant. According to the report, the factory has an initial capacity of 2.5 lakh electric cars but plans to increase that capacity to 7.5 lakh in the next few years.
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Also, Anil Ambani's company is also considering setting up a battery factory of 10 gigawatt hour capacity. The plant is targeted to increase its capacity to 75 GW-hour within a decade. But everything is at a preliminary level. Reliance has yet to comment on the matter.
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Incidentally, Anil Ambani's grandfather Mukesh Ambani's Reliance Industries is producing batteries locally in India. Mukesh's company last week secured production-based subsidy, or PLI, from the Indian government to produce 10 gigawatt-hours of battery cells. If Anil goes ahead with his plans for electric vehicles, the two brothers will face each other in the same sector.
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