Mukesh Ambani-led Reliance Industries said that its plans for battery storage manufacturing remain unchanged, as per a report by Reuters.
This clarification came following a Bloomberg News report that said the conglomerate had paused plans to make lithium-ion battery cells in India after failing to secure Chinese technology.
“Reliance Industries strongly and categorically affirms that there has been no change in our plans for creating a world leading battery storage manufacturing ecosystem from Cell to containerised ESS (energy storage system) and that they are progressing well in line with our target timelines,” Reliance’s spokesperson said, according to Reuters.
Financialexpress.com could not verify the news independently.
No pause in battery plans: Reliance Industries
According to a Bloomberg News report on Sunday,Reliance Industries had been in discussions with Chinese firm Xiamen Hithium Energy Storage Technology to license cell technology. However, the talks stalled after Xiamen withdrew from the proposed partnership following China’s curbs on overseas technology transfers in key sectors, prompting Reliance to refocus on assembling battery energy storage systems, the Bloomberg report said.
Reliance Industries is aiming to start manufacturing cells this year.
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.
Reliance Industries share price
The share price of Reliance Industries gained 7.35% over the past three months. However, it has declined 2.22% in the last six months.
Reliance Q3FY26 on January 16
Reliance Industries is set to announce its Q3FY26 on January 16. “A meeting of the Board of Directors of the Company is scheduled to be held on Friday, January 16, 2026, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter and nine months ended December 31, 2025,” Reliance Industries said in its BSE release.