Anil Ambani-led Reliance Infrastructure is going to form a new subsidiary. The company will deal and manufacture in all types of vehicles and transport components, using any kind of fuel.
Reliance Infrastructure Subsidiary: In another major move, Reliance Group Chairman Anil Ambani-led Reliance Infrastructure announced that it is forming a new subsidiary. According to the company, it plans to manufacture and trade in all types of vehicles and transport components, using any kind of fuel.
In September, several reports suggested that Reliance Infrastructure is planning to enter the electric vehicle segment and is looking to manufacture electric cars and batteries. To strategize the next steps, Anil Ambani’s company appointed a former Indian executive from China’s BYD Co, as reported by news agency Reuters, citing sources.
On Wednesday, Ambani’s BSE-listed small-cap power utilities company announced the launch of a new offshoot, Reliance Clean EV Private Limited (RCEVPL). This new venture will fall under the operational leadership of Reliance Velocity Limited, another subsidiary of the main company.
“RCEVPL is incorporated on November 20, 2024, as a wholly owned subsidiary of Reliance Velocity Limited (RVL), which is a wholly owned subsidiary of the Company. The Certificate of Incorporation has been received from the Ministry of Corporate Affairs on November 20, 2024,” the Anil Ambani-led company stated in an exchange filing.
Ambani’s newly-founded sub-wing stands with a confirmed and fully paid-up share capital of one lakh rupees, which boils down to 10,000 shares, each priced at Rs 10. As of now, Ambani’s brainchild company, Reliance Clean EV Private Limited is still dormant, with business operations yet to take flight.
Reliance Infrastructure To Enter EV Segment
The Reliance Infrastructure is also planning to enter the EV segment and manufacture electric cars and batteries. For this, the company has appointed external consultants to conduct a “cost feasibility” study to install an EV plant. The initial capacity of the plant will be about 250,000 vehicles a year, which will be increased to 750,000 over some years.
Last month, some exciting news made waves in the corporate world. Reliance Infrastructure Limited declared its ambitious plan to build the biggest integrated defence manufacturing unit in India.
Through their sub-branch – Reliance Defence – they are all geared up to pump in a whopping Rs 10,000 crore over the coming decade for this mega project. This new venture won’t just focus on making explosives and ammunition, but also small arms catering to both civilian and military needs.
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