On Oct 4, Indian oil refining behemoth Reliance Industries demonstrated its swappable and multipurpose battery storage technology for electric vehicles (EVs) as part of a major push towards sustainable energy.

At a renewable energy exhibition, Reliance, led by billionaire Mukesh Ambani, displayed removable and swappable batteries for EVs that can also be used to power household appliances via an inverter.

The concept is that a person may use one battery for mobility and powering equipment at home, according to corporate executives at the event, who asked not to be quoted since they are not authorised to speak with the media.

The batteries may be swapped at Reliance's battery swap stations or recharged by houses using rooftop solar panels, which the company also hopes to offer.

The development of battery storage solutions is a part of Reliance's bigger $10 billion green push towards clean energy projects. The company aims to cut dependence on its mainstay oil-to-chemical business and be net zero carbon by 2035.

In 2021 and 2022, the corporation paid around $200 million to acquire two battery companies: UK-based Faradion, which manufactures sodium-ion batteries, and Lithium Werks, which manufactures lithium iron phosphate (LFP)batteries. At the event, Reliance displayed an LFP chemistry-based battery.

A corporate presentation at the event revealed that it also works on configurable batteries for commercial and personal use, intelligent swap stations, and integrated charging networks. According to the presentation, Reliance does not want to manufacture EVs but will collaborate with EV manufacturers.

Reliance secured a $2.4 billion incentive last year to build a 5 gigatonne hour (GWh) battery manufacturing facility as part of India's $2.4 billion programme to promote domestic battery cell production.