Reliance Infrastructure Plans to Manufacture Electric Cars & Batteries

India’s Reliance Infrastructure is considering plans to manufacture electric cars and batteries. It is also looking for partners, including Chinese companies and is aiming to finalise its plans within a few months. The company, part of Anil Ambani’s Reliance Group, has hired external consultants to conduct a “cost feasibility” study for setting up an EV plant with an initial capacity of about 2,50,000 vehicles a year, to be scaled up to 7,50,000 over some years. Two sources briefed on the matter told Reuters.

Reliance Industries also looking at the feasibility of building a battery plant starting with 10 gigawatt hours (GWh) of capacity and scaling up to 75 GWh over a decade. Shares of the company, which were down 0.2% before the Reuters report, closed nearly 2% higher after it was published.

Anil Ambani is the younger brother of Mukesh Ambani and head of Reliance Industries. Reliance has interests ranging from oil and gas to telecoms and retail.