Reliance Infrastructure, led by Anil Ambani, reportedly wishes to enter the electric vehicle (EV) space and is eyeing to manufacture and retail electric cars and batteries. The company has hired a former India executive of BYD, to strategize its EV vision- says a Reuters report.
Sources say that the company is also exploring the cost feasibility of building an EV factory, by means of expert external consultants. This facility, if completed, will have an initial capacity of 250,000 vehicles a year. The manufacturer could also scale it to 750,000 in a few years.
Anil Ambani’s company also seems to have plans to get into battery manufacturing. The report says that it is considering building a 10 gigawatt-hour (GWh) battery factory, the cost feasibility tests for which are underway. The production capacity of the facility is expected to be scaled up to 75 GWh in another ten years.
The Ambani brothers split the family business in 2005. Anil’s elder brother, Mukesh Ambani, is currently Asia’s richest man, and heads Reliance Industries. He had recently revealed intentions of foraying into battery manufacturing. He also won the bid to receive government incentives for 10 GWh of battery production. If Anil’s company goes ahead with the EV plans, we will get to see a face-off between the brothers.
Reliance Industries had formed a new wholly owned EV subsidiary in June, which goes by the name ‘Reliance EV Private Ltd’ to manufacture and deal in electric vehicles and components. While these might sound interesting, if or not these plans will make it to flesh remains uncertain. Anil’s Reliance Infrastructure has lately been tackling rough winds and is struggling with cash flow issues and high debt…
Anil Ambani’s IONIQ5 And BYD Seal
The businessman’s current garage has two popular electric cars in it- the Hyundai IONIQ 5 and BYD Seal. He was previously spotted at the airport, being chauffeured in his Ioniq 5.
The IONIQ 5 EV launched in India in 2023, with an introductory ex-showroom price of 44.95 lakh, which escalated to 46.05 lakh after the first 500 units. Local manufacturing has allowed Hyundai to bring down the prices to what they are today. EV6, its KIA cousin, still has a price tag of 60.65 lakh (ex-sh), as it comes via CBU. The IONIQ5 recently got a major battery update globally, but it remains unsure if the updated car will launch in India anytime soon.
The Seal is the more recent addition to Anil’s garage. He was spotted at the airport with the car, and was there to board his flight to Italy, to attend the Ambanis’ pre-wedding bash.
Out of the 4 available colours, Anil has chosen Arctic Blue for his seal. He seems to have bought the Premium variant with the 82.56 kWh battery pack. It comes with a rear-wheel-drive (RWD) setup and an electric motor that produces 312 hp and 360 Nm. The EV has a claimed range of 650 km. The price falls in the 41- 53 lakh range.
More Focus On Local Battery Manufacturing
Despite the FAME schemes being axed, the government’s push for EV adoption in India continues. Immense focus in being placed on increasing local manufacturing of EVs and their components. Local production of battery packs is being encouraged and multiple Indian manufacturers like Exide and Amara Raja have partnered with Chinese giants for technology. Reliance Industries seems to be taking a similar path as well.
Chinese companies like BYD are experts in battery technology and manufacturing. Their Blade cells are regarded as some of the finest in the industry. Associations with these players will only improve the electric vehicle’s capabilities.
India’s EV Industry: Quick Overview
Last year, the EV penetration was around 2% of the 4.2 million cars sold. By 2030, the government aims to achieve 30%. Currently, Tata Motors is dominating the EV game with a whopping 70% market share. Aiming to capitalise on the traction in the segment, more manufacturers like Hyundai, Toyota, and Maruti Suzuki are expected to launch their EVs soon in the country.
