Reliance Industries pauses battery cell plans in India, Bloomberg News reports
- Reliance Industries did not immediately respond to Reuters' request for a comment outside regular business hours
India’s Reliance Industries has paused plans to manufacture lithium-ion battery cells in India after failing to secure Chinese technology, Bloomberg News reported on Sunday.
The Mukesh Ambani-led conglomerate, which aimed to start manufacturing cells this year, had been in discussions with Chinese energy storage firm Xiamen Hithium Energy Storage Technology to license its cell technology, according to the report.
The talks stalled after Xiamen withdrew from the partnership following China’s curb on overseas technology transfers, the report said, prompting Reliance to refocus on assembling battery energy storage systems. Reuters could not immediately verify the report.
Reliance Industries did not immediately respond to Reuters’ request for a comment outside regular business hours.
Last October, Beijing announced controls on exports of lithium battery components, requiring exporters to obtain permits, tightening China’s grip on technology critical for energy storage and electric vehicles.
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