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RIL pushes battery unit timeline by 2 yrs to 2026
Business Standard
|September 11, 2023
Executives speculate supply chain could be a contributing factor for the delay
The date for setting up Reliance Industries Ltd's (RIL's) giga-scale battery factory is now 2026, after the stated two years timeline of 2024, the information shared by Chairman and Managing Director Mukesh Ambani in his recent speech suggests.
This is a rare instance where the company has changed a stated timeline or target for any of its businesses.
RIL did not confirm or respond to email queries related to the change in timeline. However, industry executives speculate supply-chain constraints could be a contributing factor.
At RIL's annual general meeting (AGM) in August, Ambani told shareholders: "Our concurrent priority is to set up our Battery giga factory by 2026." Ambani indicated RIL would start with LFP (lithium ferrophosphate) chemistry and simultaneously focus on fast-tracking the commercialisation of its sodium-ion battery technology.
This story is from the September 11, 2023 edition of Business Standard.
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