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Anil Ambani’s Reliance Infra eyes EV foray, plans to make cars & batteries
Livemint
·
11m ago
Medial
Reliance Infrastructure, led by Anil Ambani, is reportedly planning to enter the electric vehicles (EVs) market in India. The company has hired consultants to conduct a feasibility study for building an EV plant with an initial capacity of 250,000 vehicles per year, which can later be scaled up to 750,000. Additionally, they are considering the feasibility of building a battery plant with a capacity of 10 gigawatt-hours, expanding to 75 GWh in the next decade. This move will put Anil Ambani's company in competition with his brother, Mukesh Ambani, who is also venturing into EV and battery manufacturing.
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Related News
Reliance Infra Eyes EV Foray, To Make Electric Cars & Batteries
Inc42
·
11m ago
Medial
Reliance Infrastructure is seeking partnerships, including with Chinese companies, and aims to finalize its plans within the next few months. The company has hired Sanjay Gopalakrishnan, a former executive at BYD India, to advise on its electric vehicle (EV) project. Additionally, external consultants have been engaged to conduct a "cost feasibility" study for establishing an EV plant with an initial production capacity of approximately 250,000 vehicles per year.
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Anil Ambani’s global aerospace ambition, a ₹10,000-cr bet, and homemade Falcons
Livemint
·
28d ago
Medial
Anil Ambani’s Reliance Defence plans to invest ₹10,000 crore in its aerospace venture and aims to launch India’s first locally made commercial aircraft by 2028. The investment will be partially funded through capital raised by Reliance Infrastructure Ltd via preferential shares, institutional buys, and foreign currency bonds totaling ₹17,600 crore. Reliance Defence already assembles components for Dassault Aviation's aircraft in India, marking its strategic positioning in the global aerospace industry.
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Anil Ambani’s Reliance Communications loan fraud totals Rs 14,000 crore: Sources
Economic Times
·
15d ago
Medial
Anil Ambani's Reliance Communications Ltd is accused of committing a loan fraud exceeding Rs 14,000 crores, according to the Enforcement Directorate. The State Bank of India (SBI) classified Reliance Communications and Anil Ambani as "fraudulent" per RBI guidelines, reporting it to RBI and preparing a complaint for the Central Bureau of Investigation (CBI). Additionally, the company allegedly cheated Canara Bank out of more than Rs 1,050 crore, with investigations into foreign assets ongoing.
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Anil Ambani’s Strategic Future Plans: Can His Companies Make a Comeback?
Internet
·
1y ago
Medial
Anil Ambani's story is one of a rapid rise and fall in India's corporate world. His aggressive expansion across telecommunications, infrastructure, and other sectors led to mounting debt, eventually causing significant financial struggles. Key companies like Reliance Communications and Reliance Capital faced bankruptcy, with assets sold off. Despite setbacks, some companies, like Reliance Power, are now debt-free and poised for recovery.
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Anil Ambani’s Reliance Power in trouble as renewable energy agency initiates criminal action over fake bid
Livemint
·
8m ago
Medial
Reliance Power, led by Anil Ambani, is facing potential criminal proceedings from the Solar Energy Corporation of India (SECI) after a subsidiary of the company submitted fake documents for a bid. SECI had already banned the company from participating in clean energy project tenders for three years due to the fake endorsement of a foreign bank guarantee. The government-owned SECI has deemed the submission of the fake documents as a deliberate act intended to manipulate the tendering process. Reliance Power plans to legally challenge the ban.
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Reliance Infra Shares Rise Over 4% on Rs 3,000 Crore Defence Export Target in 2 Years
OutlookIndia
·
2m ago
Medial
Reliance Infrastructure shares surged over 4% on the National Stock Exchange following the company's announcement of a ₹3,000 crore defence export target within two years. The firm, led by Anil Ambani, plans to export 155 mm ammunition and aggregates, achieving ₹1,500 crore exports in the current year. Reliance Infrastructure, aiming to rank among India’s top three defence exporters, is developing the Dhirubhai Ambani Defence City in Maharashtra, boosting its stature in the defence sector.
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China prices may trip India’s EV battery play
Livemint
·
1m ago
Medial
India's ambitions for an EV battery manufacturing ecosystem face challenges due to cheaper Chinese alternatives. Domestic batteries may be 20-30% more expensive, largely due to reliance on imported raw materials. Analysts expect China's aggressive pricing to continue due to overcapacity in battery cell production. Companies like Amara Raja Energy and Exide Industries are concerned that local batteries won't compete on price with Chinese imports, impacting their rollout plans between this fiscal year and FY27.
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Anil Ambani-led Reliance Infra to invest $1.2 billion over next ten years for ammunition project: Report | Mint
Livemint
·
9m ago
Medial
Reliance Infrastructure, owned by Indian industrialist Anil Ambani, has announced plans to invest $1.19 billion over the next decade in a project to produce explosives, ammunition, and small arms. India is looking to ramp up domestic defense equipment production, with a focus on exports, which reached a record high of $2.8 billion in the previous fiscal year. Reliance Infra aims to set up the project in Maharashtra state and is exploring potential joint ventures with six global defense companies. The company currently has joint ventures with French defense firms Dassault Aviation and Thales.
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Reliance AGM 2024 Live Updates: Mukesh Ambani’s speech at RIL AGM in focus
Livemint
·
11m ago
Medial
Reliance Industries Limited (RIL) is holding its annual general meeting (AGM) today, where Chairman Mukesh Ambani is expected to make key announcements. This includes providing a timeline for the listing of Reliance Retail and Reliance Jio Initial Public Offerings (IPOs). The AGM, attended by 3.5 million shareholders, is set for August 29, 2024, starting at 2:00 PM.
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India looks east to this new ally to ease China’s grip on EV batteries
Livemint
·
1m ago
Medial
India is exploring ties with Japan to reduce reliance on China for EV batteries and critical minerals. Major Japanese firms like Panasonic and Mitsubishi Chemicals are in India to explore partnerships. This collaboration aims to diversify the supply chain for lithium-ion batteries essential for electric vehicles and energy storage. As China tightens export controls on critical minerals, these discussions signify India’s strategic move to secure its position in the global EV market.
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