Anil Ambani, the younger brother of Asia’s richest businessman Mukesh Ambani, is set to enter the electric vehicle (EV) sector. According to media reports, he plans to manufacture electric cars and battery cells. To achieve this, he has appointed the former Indian head of China’s BYD as an advisor.
Anil Ambani is now preparing to compete with Tata Motors and Mahindra & Mahindra by entering the EV sector. He has brought on board a former executive of BYD, one of China’s largest EV companies, as a consultant. Reports suggest that Anil Ambani’s company, Reliance Infrastructure, is exploring the possibility of manufacturing electric cars and batteries.
As per a Reuters report, Reliance Infrastructure has hired external consultants to conduct a “cost feasibility” study for setting up an EV plant with an initial capacity of around 250,000 vehicles per year. This capacity could later be increased to 750,000 vehicles. The company is also exploring the potential for establishing a 10-gigawatt-hour battery plant, which could be scaled up in the coming years. So far, neither Reliance Infrastructure nor former BYD executive Sanjay Gopalakrishnan has issued any official statements.
Anil Ambani is the younger brother of Mukesh Ambani, the chairman of Reliance Industries, who has interests spanning from oil and gas to telecom and retail. The family business was split between the brothers in 2005. Mukesh’s company is already working on producing batteries locally and recently won a bid for government incentives to produce 10 GW of battery cells. If Anil Ambani’s group decides to move forward with its plans, the brothers will find themselves competing in a market where EV presence is still small but growing rapidly.
Less than 2% of the 4.2 million cars sold in India last year were electric, but the government aims to raise this figure to 30% by 2030. The government has allocated over $5 billion in incentives for companies producing EVs, their components, and batteries locally. While battery production has yet to begin in India, some domestic manufacturers, like Exide and Amara Raja, have made deals with Chinese companies to acquire the technology for manufacturing lithium-ion battery cells in the country.
According to Reuters sources, Reliance Infrastructure is seeking partners. Including potential collaborations with Chinese companies, and plans to finalize its strategy in the upcoming months. Tata Motors is currently the largest EV company in India, holding nearly 70% of the market share. Competitors like SAIC’s MG Motor and BYD are also making steady progress. Meanwhile, major automakers like Maruti Suzuki and Hyundai Motors plan to launch their EVs by 2025.
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After more than two years with BYD, Gopalakrishnan retired earlier this year. He helped establish BYD’s domestic business, launched three EVs, and built a dealership network. According to the Reuters report, in June, Reliance Infrastructure formed two wholly-owned subsidiaries related to the auto sector. One of these is Reliance EV Private Limited, whose “main objective” is to manufacture and trade all types of vehicles and components using any form of fuel.
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