India’s Reliance Infrastructure considering EV push
The company has hired a former India executive at Chinese automaker BYD to advise on its plans to make electric cars and batteries, according to a report by Reuters.
India’s Reliance Infrastructure, part of the Anil Ambani Reliance Group, is reportedly considering plans to make electric cars and batteries.
The company has hired a former India executive at Chinese automaker BYD to advise on its plans, according to a report by Reuters based on two sources.
External consultants will carry out a cost feasibility study for establishing an EV plant with an initial annual capacity of 250,000 vehicles. This may be scaled up to 750,000 over the next few years, the report says.
Reliance Infrastructure is also reportedly considering setting up a battery plant starting with 10 GWh capacity, which may be scaled up to 75 GWh over a decade.
Anil Ambani is the younger brother of Mukesh Ambani, the head of Reliance Industries. The brothers split their family business in 2005.
The move by Anil’s Reliance Infrastructure could set up the stage for head-to-head competition between the two brothers as Mukesh is also eying a slice of the EV pie.
Electric models made up less than 2% of cars sold in India last year, but the Indian government wants to increase this to 30% by 2030. It is offering USD 5 billion in incentives for companies locally manufacturing EVs and their components.
Local battery manufacturers like Exide have partnered with Chinese companies for technology to manufacture lithium-ion battery cells in India.
Tata Motors is India’s biggest EV player with approximately 70% market share.
