The market will no doubt watch out for the RIL AGM on August 29. But the question is why this time on even the auto sector will watch out for it? That’s because all eyes will be on the company’s New Energy plans and announcements regarding the 5G launch.
As was recently borne out during the Financial Express Connected Mobility Summit 2022, 5G is expected to be the key disruptive force in automotive manufacturing, going forward. The connected tech is advancing by leaps and bounds in the sector and OEMs are being proactive in making sure vehicles are being connected, taking into consideration the existing demand dynamics .
Last year, RIL made an announcement that Rs 75000 cr investment in the next 3 years in 4 Giga factories will mark a seismic shift in India’s clean energy pursuit. The market will no doubt watch out further details about the company’s green energy plans.
According to the company’s annual report, Reliance’s green energy investments will start to go live over the next one year and new energy is expected to overshadow current growth engines in just 5-7 years.
It target building technologies, scaling capacities and creating a new energy ecosystem for India and RIL to achieve the ambition of Net Zero emission. RIL Chairman Mukesh Ambani elaborated that, ”We now aim to care for the Planet as we embark on our most exciting transformation – the Green Transformation.”
In fact RIL has inked series of partnerships with companies demonstarting unique technological and execution capabilities, including world-leader in non-aqueous sodium-ion cell technology — Faradion in the UK and The Netherlands-based Lithium Werks in the energy storage space.
Similarly, Reliance invested in Germany’s NexWafe, involved in next-gen technology to produce monocrystalline silicon wafers needed in making solar panels alongwith promoters’ stake in REC Solar.
In the Hydrogen ecosystem, Reliance joined hands with the US-based Chart Industries to set up India H2 Alliance to commercialise hydrogen technology. It also entered into an agreement with Denmark’s Stiesdal A/S for its innovative next-gen electrolyser technology, which has the potential to reduce dramatically the cost of producing hydrogen from pure water.
The company has also simultaneously began work on the four Giga-factories at Dhirubhai Ambani Green Energy Giga Complex to set up world-scale production capacity for solar panels, energy storage systems, electrolysers and fuel cells spread over 5,000 acres in Jamnagar.
RIL is additionally is focussing on cost efficiency in most of these initiatives, keeping in mind the cost-sensitive consumer base across India, along with the auto sector.