Marking its presence into country’s electric vehicle (EV) space and clean energy mission, business conglomerate Reliance Industries on 4 October, unveiled the concept of its swappable and multipurpose battery storage technology for EVs.
In addition to powering EVs, these multipurpose batteries can also be used to provide electricity for household appliances by using an inverter.
The concept has progressed to the engineering and manufacturing stage and could be available as a product for customers as early as next year, reports Money Control.
The battery technology has the capability to power electric two-wheelers for a distance of 70-75 kilometres.
The batteries can be replaced at Reliance’s battery swap stations or recharged using rooftop solar panels, which will be sold by the conglomerate.
Users can have multiple batteries and swap them as needed. The setup, using a dock and charger, can be installed at home, office, etc. Additionally, swapping stations will be set up as EV infrastructure in public places, enabling users to switch batteries in a mere six seconds.
The introduction of battery storage solutions is part of their $10 billion green initiative focused on new energy and clean energy projects. The company also aims to achieve net-zero emissions by 2035.
As part of India’s programme to boost local battery cell production, Reliance secured an incentive last year to establish a 5-gigawatt hours (GWh) battery manufacturing facility. This facility is expected to be operational by 2026 and will focus on producing batteries and containerised energy storage solutions.
In recent years, Reliance has made strategic acquisitions in the battery sector.
According to Reuters, in 2021 and 2022, the company acquired two battery companies — Faradion and Lithium Werks, for approximately $200 million.
Faradion specialises in sodium-ion batteries, while Lithium Werks produces lithium iron phosphate batteries.
The company is investing in intelligent swap stations and integrated charging networks to support the growing demand for EVs and energy storage solutions.