Reliance Industries has firmly dismissed reports of delays in its battery manufacturing plans, reaffirming its commitment to establishing a comprehensive battery storage ecosystem in India. The company spokesperson categorically stated that there has been no change in plans for creating a world-leading battery storage manufacturing ecosystem, spanning from cell production to containerised energy storage systems.

Manufacturing Timeline and Capacity Targets

The company maintains its previously announced timeline, with battery cell manufacturing scheduled to commence in 2026. Chairman and Managing Director Mukesh Ambani had outlined the ambitious production targets during a shareholder meeting in August of the previous year.

Comprehensive Manufacturing Ecosystem at Jamnagar

Reliance has committed ₹75,000 crores to establish an integrated manufacturing ecosystem at the Dhirubhai Ambani Green Energy Giga Manufacturing Complex in Jamnagar, Gujarat. This facility will encompass multiple components of the energy storage value chain, positioning itself as what the company describes as the world's largest, most modern, modular and integrated manufacturing ecosystem at a single site.

The manufacturing ecosystem includes three key components:

• BESS Manufacturing: Production of Battery Energy Storage Systems for grid stability and renewable energy integration
• Battery Pack Manufacturing: Assembly of battery packs for various applications
• Cell Manufacturing: Core battery cell production capabilities

Current Progress and Technology Development

Reliance has already begun construction of an integrated advanced chemical battery manufacturing facility with an annual capacity of 30 GWh at Jamnagar. The company is simultaneously advancing sodium-ion battery technology, which offers advantages for stationary storage and two-wheeler applications due to the abundance of sodium.

For lithium-ion battery development, essential for higher-performance automotive applications, Reliance leverages expertise from its international subsidiaries. The company draws upon the experience of its US subsidiary Lithium Werks, which specialises in LFP (lithium-iron-phosphate) batteries, and its UK subsidiary Faradion.

Investor Communication and Updates

The company spokesperson indicated that regular updates on the new energy business, including battery manufacturing plans, are shared during quarterly investor calls. The next comprehensive update is scheduled for January 16, coinciding with the third quarter earnings call, where stakeholders can expect detailed progress reports on the battery manufacturing initiatives.

Reliance Industries has been in focus following multiple developments including clarifications on battery manufacturing plans, discussions for Venezuelan crude oil imports, and major investment announcements for Gujarat. The company's shares reached a day's low of ₹1,451.10 per share, down nearly 2.00% from the previous day's closing price of ₹1,475.30 per share, with a market capitalisation of ₹20,07,271.00 crore.

Battery Manufacturing Plans Clarification

Reports suggested that Reliance Industries had paused its lithium-ion battery cell production plans in India due to inability to secure Chinese technology. The reports indicated that discussions with Xiamen Hithium Energy Storage Technology, a Chinese firm, for licensing lithium iron phosphate (LFP) cell technology broke down when Hithium withdrew due to Beijing's tightened control over tech exports.

Reliance Industries responded by denying any changes to their battery manufacturing plans. The company stated it remains fully committed to building a world-class battery storage manufacturing ecosystem, covering everything from basic cells to complete containerised energy storage systems. All battery projects are progressing smoothly and remain on track according to the company's statement.

Venezuelan Crude Oil Import Discussions

Reliance Industries is in discussions with the US State and Treasury departments to secure approval for resuming crude oil imports from Venezuela. This initiative comes as India faces pressure to reduce Russian oil purchases, prompting the search for alternative sources.

Reliance previously imported Venezuelan oil under special US licenses, with PDVSA's internal records showing significant volumes. However, the US later tightened restrictions, suspending most licenses linked to PDVSA partners. The company's two refineries in Gujarat are designed to handle heavier, lower-cost grades like Venezuela's Merey crude. Reliance stated it would consider resuming Venezuelan crude purchases if sales to non-US buyers are permitted under US regulations and if offered at competitive rates.

Gujarat Investment Commitment

At the Vibrant Gujarat Regional Summit in Rajkot, Chairman Mukesh Ambani announced five major commitments for Gujarat's development. The headline announcement involved doubling Reliance's investment in Gujarat to ₹7.00 lakh crore over the next five years, building on the ₹3.50 lakh crore already invested in the state over the past five years.

Clean Energy and Infrastructure Projects

The investment plan encompasses multiple strategic initiatives:

• Jamnagar Transformation: Development into a global hub for clean energy, including solar power, battery storage, green hydrogen, sustainable fuels, and advanced green materials
• Kutch Solar Projects: Large-scale solar projects featuring multi-gigawatt solar plants with integrated storage and grid solutions for round-the-clock clean electricity
• AI Infrastructure: Construction of India's largest AI-ready data centre in Jamnagar
• Jio AI Platform: Launch of an AI platform enabling users to access artificial intelligence in their native languages

Social Development Initiatives

Reliance Foundation announced support for India's bid to host the 2036 Olympics in Ahmedabad, including management of a major sports complex. Additional commitments include building a world-class hospital in Jamnagar and expanding educational initiatives in the region.

Market Performance Context

Over the past five years, Reliance Industries stock has delivered returns of 53.00%, underperforming the NIFTY 50's return of 79.00% during the same period. Despite various operational challenges and market conditions, the company continues its aggressive expansion strategy across multiple sectors including energy, technology, and infrastructure development.