Reliance Puts Lithium Battery Plans On Hold After China Tech Talks Stall | Reliance News
Reliance Industries has reportedly paused its plans to manufacture lithium-ion battery cells in India after failing to secure Chinese technology. According to a Bloomberg report, talks between Reliance and Chinese lithium iron phosphate supplier Charmin Lithium Energy Storage Technology have stalled after the Chinese firm withdrew from the proposed partnership. The move comes amid Beijing’s curbs on overseas technology transfers in key sectors. The report adds that Reliance will now refocus on assembling battery energy storage systems for its renewable power projects. While the stock is down marginally today, analysts believe the setback may not materially impact Reliance’s long-term renewable energy ambitions, given strong cash flows and continued capex in clean energy.
Reliance Industries has reportedly paused its plans to manufacture lithium-ion battery cells in India after failing to secure Chinese technology. According to a Bloomberg report, talks between Reliance and Chinese lithium iron phosphate supplier Charmin Lithium Energy Storage Technology have stalled after the Chinese firm withdrew from the proposed partnership. The move comes amid Beijing’s curbs on overseas technology transfers in key sectors. The report adds that Reliance will now refocus on assembling battery energy storage systems for its renewable power projects. While the stock is down marginally today, analysts believe the setback may not materially impact Reliance’s long-term renewable energy ambitions, given strong cash flows and continued capex in clean energy.
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