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Mukesh Ambani in EV industry: unveils new battery technology
Reliance Industries, owned by Mukesh Ambani, the richest man in Asia and India, aims to revolutionise the
Indian electric vehicle (EV) market
. At the 'Battery Show' event in Greater Noida, RIL recently showcased its new product, swappable and multifunctional battery storage technology for EVs.The item is a component of the $10 billion renewable energy effort being made by the Ambani-led company. 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 would be worth $5.9 billion (more than Rs 49000 crore) in 2023 and $10.14 billion by 2028.
The unusual notion that a person may 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 would be exchangeable at Reliance's battery swap stations or recharged by homes utilising rooftop solar panels.