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<keyword id="19936674" type="General" weightage="20" keywordseo="Reliance" source="keywords">Reliance</keyword> Industries Ltd, <keyword id="22746601" type="General" weightage="20" keywordseo="Indias-most-valuable-company" source="keywords">India's most valuable company</keyword>, plans to commission its first <keyword id="22746598" type="General" weightage="100" keywordseo="solar-giga-factory" source="keywords">solar giga-factory</keyword> in the current fiscal as it pivots a <keyword id="20534377" type="General" weightage="20" keywordseo="green-pathway" source="keywords">green pathway</keyword> to achieve <keyword id="20824969" type="General" weightage="20" keywordseo="net-zero-carbon-emissions" source="keywords">net zero carbon emissions</keyword> from operations by 2035. In its largest annual report, the firm said it is targeting to commission the first train of 20GW solar PV (photovoltaic) <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> by the end of 2024-25 fiscal (April 2024 to March 2025) and scale up to 20GW in a phased manner over 2026. The solar giga factory will include manufacturing of <keyword id="22746599" type="General" weightage="20" keywordseo="PV-modules" source="keywords">PV modules</keyword>, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity. It is also targeting industrialising <keyword id="22746600" type="General" weightage="20" keywordseo="sodium-ion-cell-production" source="keywords">sodium-ion cell production</keyword> at the MW level in 2025 and first 50 MWh a year <keyword id="22746602" type="General" weightage="20" keywordseo="lithium-battery-cells" source="keywords">lithium battery cells</keyword> pilot in 2026. Reliance had in 2021 announced plans to invest USD 10 billion over three years to develop a new fuels business based on 100 GW of renewable power capacity by 2030. The plan involves setting up four giga factories for manufacturing renewables equipment, battery storage, fuel cells and hydrogen at Jamnagar in Gujarat. "We have made significant progress in establishing factories that will be part of our Integrated Solar PV Manufacturing," the firm said in the annual report. "New Energy will be commissioning its first train of Module and Cell Manufacturing in FY25." Solar panels manufactured in Jamnagar have obtained BIS certification. "Parallelly, work on <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> development has commenced and Reliance has been allotted land in Gujarat," it said. "We aim to become the largest renewable energy (RE) developer in India." Besides commissioning the first train of module and cell of 20GW of solar PV manufacturing, 2024-25 may also see industrialise sodium ion cell production at a MW level. Next year, PV factory is to be scaled to 20GW in a phased manner, and a battery giga factory starting with a 50 MWh a year lithium battery cells pilot set up. In FY27, it plans to establish a cell-to-pack manufacturing facility of 50 GWh and will set up 100 GW of renewable energy capacity by 2030. The 100GW target will propel the company into the front rank of renewables ambitions globally, joining the likes of Enel, Iberdrola and oil players TotalEnergies and BP in the scale of capacity additions envisaged. Reliance said fossil fuels have historically fed India's power requirements. "Structural inefficiencies combined with rising costs of fossil fuel has resulted in expensive power for commercial and residential customers - average tariff of Rs 10 per kWh (unit)." Therefore, it is not feasible for India to keep relying on fossil fuels for its growth, it said, adding the use of fossil fuels-based energy increases dependence on imports and results in drain of foreign exchange. "Stable and round-the-clock cost-efficient green power is the need of the hour. India needs to solve this problem to maintain its growth trajectory and reach USD 32 trillion GDP by 2047," it said. Reliance said over the next 12 months, its focus is to bring new energy manufacturing facilities on-stream, operate them efficiently and start developing renewable energy generation projects. "Simultaneously, we would develop the supply chain locally for self-sufficiency and reduce the reliance on imports," it said. The firm aims to partner leading global climate technology and product companies and develop a business model which is flexible and adaptable to different technologies and future proofed to be always lowest life cycle cost and best in class. Reliance has snapped up multiple partnerships in the clean energy space, such as solar and electric mobility, while pursuing its oil and petrochemical plans. Jamnagar, the world's biggest single-site integrated refinery complex, has two refineries -- one domestic-focused and a newer only for exports -- that together can process low-grade crude and switch between fuels depending on prices.

Reliance to commission first solar giga-factory in FY25

<ul><li><keyword id="10926" type="General" weightage="100" keywordseo="reliance" source="Orion">Reliance</keyword> is shoring up advanced green energy technologies as it builds out its Gigafactory for its new energy ecosystem. </li><li>The $12 million investment in <keyword id="15061332" type="General" weightage="80" keywordseo="caelux" source="Orion">Caelux</keyword> Corp will give it access to the company’s perovskite-based solar technology that is said to produce 20% more energy. </li><li>Earlier, Reliance entered into partnerships with US, UK and Netherlands-based companies working on advanced green energy technologies. </li></ul><keyword id="12305151" type="General" weightage="20" keywordseo="Reliance-New-Energy" source="Orion">Reliance New Energy</keyword>, a wholly-owned subsidiary of <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>’s <keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>, picked up a 20% stake in the California-based Caelux Corp, a solar technology company. Its $12 million investment in Caelux will help speed up the latter’s product and technology development. Reliance says its agreement with the company also includes technical collaboration and commercialization of Caelux’ technology. “The investment in Caelux aligns with our strategy to create the most advanced green energy manufacturing ecosystem, backed by world class talent, and built on the pillars of technological innovation achieved through strategic partnerships. We believe Caelux’s proprietary perovskite based solar technology provides us with access to the next leg of innovation in crystalline solar modules,” said Mukesh Ambani, chairman and managing director, Reliance Industries. In August, Mukesh Ambani announced a new Gigafactory for power electronics, wherein it will manufacture photovoltaic panels, and energy storage solutions like battery packs, apart from other things. Caelux is an industry leader in the research and development of perovskite-based solar technology. Perovskite is a semiconductor that is used to transport electric charge, and researchers have found out that it can be used as a replacement for thin-film solar cells. According to the press release, Caelux’ technology can produce 20% more energy over the 25-year lifetime of a solar project, and it can be deployed at a lower cost. <div type="Article" hostid="261" msid="93432238" title="Mukesh Ambani is all set to do a ‘Jio’ with green energy" mstype="2" mssubtype="0"></div> “Through the partnership with Reliance, we will accelerate our efforts to build out our manufacturing capabilities to produce products that make crystalline solar modules more efficient and cost effective,” said Scott Graybeal, CEO of Caelux Corp. <cmsannotation type="cmsannotation" annotationid="Doing a ‘Jio’ with green energy" comment="subhead" text="Doing a ‘Jio’ with green energy">Doing a ‘Jio’ with green energy</cmsannotation> Mukesh Ambani’s fortunes – and Reliance’ – are built on crude oil refining, but now that green energy is the future,<a href="https://www.businessinsider.in/business/news/mukesh-ambani-is-all-set-to-do-a-jio-with-green-energy/articleshow/93432238.cms"> he is gearing up to pull a Jio in this sector as well by making it affordable</a>. So far, towards its green energy goals, Reliance has already inked partnerships with several global players, including Ambri in the US, Faradion in the UK and Lithium Werks in the Netherlands, each offering expertise in energy storage. Reliance is also eyeing a piece of the pie in the green hydrogen space, teaming up with the US-based Chart Industries to commercialize hydrogen technology and set up a supply chain. It has also partnered with Denmark’s Stiesdal A/S for its next-gen electrolyser technology to reduce the cost of producing hydrogen from water. So far, Reliance has committed $10 billion in capex for green energy, and analysts at UBS suggest the company will need an additional capex of $26 billion by the end of this decade. Those investments will add $35 billion value to the company, according to UBS, which also notes that new energy is a $20 trillion opportunity. It notes that green energy will be the new “growth engine” of Reliance going forward. <div type="Article" hostid="261" msid="93432238" title="Mukesh Ambani is all set to do a ‘Jio’ with green energy" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div> <div type="Article" hostid="261" msid="94004487" title="RIL’s fourth capex cycle will unwind with $60 billion value creation, says Morgan Stanley" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div> <div type="Article" hostid="261" msid="93859168" title="Jamnagar is going green but on the back of its oil and chemicals business" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div>

Reliance New Energy picks up 20% stake in Caelux to shore up its position in advanced solar tech

New Delhi, In the first collaboration between rival billionaires, <keyword id="19916798" type="General" weightage="20" keywordseo="mukesh-ambani" source="keywords">Mukesh Ambani</keyword>'s Reliance Industries has picked up a 26 per cent stake in a Madhya Pradesh power project of <keyword id="19929098" type="General" weightage="20" keywordseo="gautam-adani" source="keywords">Gautam Adani</keyword>, and signed a pact to use the plants' 500 MW of electricity for captive use. Reliance will pick up 5 crore equity shares in <keyword id="20118758" type="General" weightage="20" keywordseo="mahan-energen-ltd" source="keywords">Mahan Energen Ltd</keyword>, a wholly owned subsidiary of <keyword id="19898586" type="General" weightage="20" keywordseo="adani" source="keywords">Adani</keyword> Power Ltd, of face value Rs 10 at par (Rs 50 crore) and will use 500 MW of generation capacity for captive use, the two firms said in separate stock exchange filings. The two businessmen hailing from Gujarat have often been pitted by media and commentators against each other but they have for years tiptoed around each other to reach the top two rungs of Asia's wealth ladder. With Ambani's interests spanning oil and gas to retail and telecom and Adani's focus on infrastructure spanning sea ports to airports, coal and mining, they rarely crossed each other's path except in the clean energy business where the two have announced multi-billion investments. Adani aspires to be the world's largest renewable energy producer by 2030 while Reliance is building four gigafactories at Jamnagar in Gujarat -- one each for solar panels, batteries, green hydrogen, and fuel cells. Adani is also building three giga factories for manufacturing solar modules, wind turbines and hydrogen electrolysers. A clash was also forecast when Adani group applied to participate in an auction of spectrum or airwaves capable of carrying fifth generation (5G) data and voice services. However, unlike Ambani, Adani bought 400 MHz spectrum in the 26 GHz band, which is not for public networks. On the contrary, the two have been far from rivals. In 2022, a firm with erstwhile links to Ambani sold its stake in news broadcaster <keyword id="20153995" type="General" weightage="20" keywordseo="ndtv" source="keywords">NDTV</keyword> to Adani, paving the way for the takeover. Adani was also present at pre-wedding celebrations of Ambani's youngest son, Anant, at Jamnagar earlier this month. "<keyword id="20340115" type="General" weightage="20" keywordseo="mahan" source="keywords">Mahan</keyword> Energen Ltd (MEL), wholly owned subsidiary of Adani Power Ltd (APL), has entered into a 20-year long-term power purchase agreement (PPA) for 500 MW with <keyword id="19938772" type="General" weightage="20" keywordseo="reliance-industries-ltd" source="keywords">Reliance Industries Ltd</keyword> (RIL), under the captive user policy as defined under the Electricity Rules, 2005," Adani Power said in the filing. One unit of 600 MW capacity of MEL's Mahan thermal power plant, out of its aggregate operating and upcoming capacity of 2,800 MW, will be designated as the captive unit for this purpose. A generating plant declared as a captive generating plant (CGP) is required to abide by the rules that state that the captive user(s) consuming the power generated from the captive generating plant for self-use must necessarily hold not less than 26 per cent of the ownership in the captive generating company. "In order to avail the benefit of this policy, RIL has to hold a 26 per cent ownership stake in the captive unit in proportion to the total capacity of the power plant. It will accordingly invest in 5 crore equity shares of MEL, aggregating to Rs 50 crore for the proportionate ownership stake," the filing said. "This development brings between two corporates an exclusive arrangement for 500 MW of power purchase by Reliance Industries on a long-term basis." It is unclear where Reliance intends to use the MEL power. It already has captive units at mega oil refining and petrochemical complexes in Gujarat and Maharashtra and its coal-bed methane (CBM) extractions in <keyword id="21121196" type="General" weightage="20" keywordseo="sohagpur-in-madhya-pradesh" source="keywords">Sohagpur in Madhya Pradesh</keyword> may not need 500 MW of electricity. "In this connection, APL, MEL, and RIL have signed an investment agreement on 27th March 2024 at 7:00 pm. Closing of the transaction is subject to customary closing conditions including receipt of requisite approvals," Adani Power said. Reliance in the filing made a similar disclosure, adding, "MEL, a company engaged in generation and supply of power, was incorporated on October 19, 2005. The turnover of MEL, as per its audited standalone financial statement, for financial years 2022-23, 2021-22 and 2020-21 was Rs 2,730.68 crore, Rs 1,393.59 crore and Rs 692.03 crore, respectively." "The investment is subject to customary conditions precedent including receipt of requisite approvals by MEL and is expected to be completed within 2 weeks of receipt of completion of conditions precedent and receipt of such approvals by MEL," it added.

Ambani, Adani collaborate: RIL picks 26% stake in Adani Power project

New Delhi, <keyword id="19938772" type="General" weightage="20" keywordseo="reliance-industries-ltd" source="keywords">Reliance Industries Ltd</keyword> on Monday said it will sell <keyword id="19920137" type="General" weightage="20" keywordseo="rec" source="keywords">REC</keyword> Solar <keyword id="19901705" type="General" weightage="20" keywordseo="norway" source="keywords">Norway</keyword> AS to Oslo-listed Elkem ASA for around USD 22 million. REC Norway is a wholly-owned unit of REC Solar Holdings and is involved in the manufacturing of kerf-based polysilicon in the Scandinavian country. In October 2021, a unit of Reliance acquired Norway's solar panel manufacturer at an enterprise value of USD 771 million as the Indian oil-to-retail conglomerate sought to extend its dominance into alternative energy. "REC Solar Holdings AS, a step-down wholly-owned subsidiary of Reliance Industries Ltd (<keyword id="20002939" type="General" weightage="20" keywordseo="ril" source="keywords">RIL</keyword>), has informed that it has, on January 14, 2024, entered into a share purchase agreement with Elkem ASA for the sale of its 100 per cent equity stake in REC Solar Norway AS for an aggregate cash consideration of USD 22 million," RIL said in a stock exchange filing. Founded in 1904, Elkem ASA is a silicon-based material provider, and listed on the Oslo Stock Exchange. "REC Norway, a wholly-owned subsidiary of REC Solar Holdings AS, is in the business of manufacturing kerf-based polysilicon in Norway," the firm said. "RIL will continue to retain the technology and intellectual property rights pertaining to kerf-based polysilicon." REC Norway had a turnover of Norwegian krone 1.1 billion in the calendar year 2022 and a net worth of NOK 0.3 billion as of December 31, 2022, contributing about 0.08 per cent and 0.03 per cent, respectively, of RIL's annual consolidated turnover and net worth for the financial year 2022-23, it said. In October 2021, RIL bought REC Solar Holdings from China National Bluestar Group Co to expand in green energy markets globally, including the US, Europe, Australia and elsewhere in Asia. The acquisition was part of company chairman <keyword id="19916798" type="General" weightage="20" keywordseo="mukesh-ambani" source="keywords">Mukesh Ambani</keyword>'s pledge to spend USD 10 billion on green energy over three years. REC makes solar-grade polysilicon and solar panels and modules at facilities in Norway and Singapore. RIL was to use REC's technology to manufacture metallic silicon and solar panels at its gigafactory at Jamnagar in Gujarat. The REC Solar Norway transaction is subject to certain regulatory and other customary closing conditions and is expected to be completed by April 2024, RIL said. "Upon completion of the sale, REC Norway will cease to be a subsidiary of the company. REC Solar Holdings AS and its subsidiaries, engaged in the business of manufacturing and sale of solar PV HJT cells and modules, will continue to be RIL's subsidiaries," it said.

Reliance Industries sells REC Solar Norway for $22 million

<ul><li>Investors hope capex intensity is behind RIL now as <keyword id="3820" type="General" weightage="80" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> promises to keep financial ratios in check.</li><li>Section of the market that was expecting updates on incremental <keyword id="10706586" type="General" weightage="60" keywordseo="value-unlocking" source="Orion">value unlocking</keyword> events will be disappointed.</li><li><keyword id="60895" type="General" weightage="40" keywordseo="green-energy" source="Orion">Green energy</keyword> plan is coming together finally with the company looking to commence manufacturing of solar PVs from FY25. </li></ul> The 46th Annual General Meeting of <keyword id="6355199" type="General" weightage="90" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> was on expected lines. It had star power (from Wall Street), fireworks and an emotive trip down memory lane. From remembering his father Dhirubhai Ambani and his outsized dreams to his own induction into the RIL’s board at the age of 20, Mukesh Ambani’s time travel between the past and future kept analysts and media busy for several hours. His speech ticked all the right boxes. His succession plan is firmly in place with all three of his children being inducted on the board. The boss of India’s most valuable company praised his children for earning their stripes and took on the mantle of mentoring them ahead too. But the market was expecting much more than showmanship this year, as the company’s earnings performance remains below its expectations. Analysts do not see any particular trigger for the stock. For investors fretting over negative free cash flows and very high capital expenditure, Ambani underlined the importance of financial discipline. The management is committed to the management is committed to maintaining headline net debt/EBITDA below 1x. The good news, however, ends here. The company has not announced any near term measure that will give better visibility on earnings. Most equity broking houses have retained their earnings outlook on RIL. AGM Is Big On Strategy, But Not Much on Value Unlocking... The management of RIL gave no timeline on the possible listing of its telecom and retail businesses. In 2019, Ambani had said that the businesses would be listed in five years and even though four years are over, he refused to spell out details on either of the businesses. According to a report by the BoFA Global Research, “While the Chairman mentioned about Jio Financial Services, there were no major incremental updates related to business strategy in near-term. In our view, a section of the market that was expecting updates on incremental value unlocking events would likely be disappointed.” On the upside, RIL has indicated that more global and strategic investors are keen on investing in <keyword id="10926" type="General" weightage="70" keywordseo="reliance" source="Orion">Reliance</keyword> Retail, following the $1 bn investment by QIA. Says Kotak Institutional Equities in its report, “Likely there will be further stake-sales in due course. Reliance Retail through its accelerated store expansion and new commerce ramp-up now serves 98%+ of India’s PIN codes. RIL expects retail to be its fastest-growing business in revenue/EBITDA.” Broad Contours of Strategy Suggest Capex Intensity Is Over Following the speech and commitment to keeping net debt/EBITDA at 1x, the market is assuming that the capex intensity will abate from FY25 onwards. The company will now look at sweating its assets. The broader contours of its strategy seem to suggest that the key focus will be on value creation for investors and shareholders through its disruptive strategy in sectors where there is a large unmet demand like it has shown in retail and telecom. According to IIFL, “With RIL’s mega capex cycle announcements phase now behind, sweat assets are to be in focus. Mr Ambani also affirmed his role as the company's chairman for an additional five years, during which he will actively engage in training and mentoring the next generation of leaders.” Jefferies, which expects lower capex in Jio in FY25E with 5G network capex, says:. “We keep earnings unchanged as limited new information on near- term targets were shared. No major new capex was announced.” The market will surely frown on any execution glitch or higher capex than what the company has indicated. New Energy Piece Is Finally Coming Together The company’s new energy piece is finally coming together, with Ambani sharing some details of how it plans to migrate its existing energy business to a green one. The O2C business will develop materials for the green energy business, which in turn will produce renewable energy and green hydrogen. The green energy sources will power its chemical plants which will produce green chemicals. According to Goldman Sachs, “RIL’s newly announced wind power equipment manufacturing foray, where it intends to utilize carbon fiber produced at its Hazira plant (under construction) to cut costs of wind turbine blades. This wind capacity, along with solar and batteries, should in turn help reduce carbon emissions (and power cost) of the carbon fiber plant.” The global investment bank says that RIL has also reiterated its guidance for installing 100GW renewable capacity by 2030. The company’s fully integrated solar PV plant is scheduled to commence production in phases and the battery giga-factory is expected to manufacture cells, packs and battery chemicals by 2026.

Director’s Cut: Mukesh Ambani’s showmanship is great, but what about value unlocking, asks market

<keyword id="8460033" type="General" weightage="20" keywordseo="bofa-securities" source="Orion">BofA Securities</keyword> has given a 'Buy' call for E Ink, Hundsun, Japan Airlines, Mazda Motor, PICC Group, <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>, Samsung F&amp;M, SBI Cards, and United Breweries for the July-September 2023 quarter. The financial services company sees potential return on investments in the range 6-72 %. It, however, gave an 'Underperform' rating for IDP Education, with a potential 16 % downside in its stock price. BofA Securities said they presented a list of 10 quarterly stock recommendations among Asia Pacific companies, based on the view that these stocks could have the most significant market and business-related catalysts in the quarter ahead. "Given the breadth and scope of our overall coverage of stocks and sectors in Asia Pac, we recognize this recommended list cannot include nor is it designed to include all major catalysts. Our objective is to identify what we believe will be the highest impact ideas in each quarter when we publish the list," the financial services company said. For Reliance, the financial services company has a 'Buy' rating as Jio has emerged as the top telecom player in a growing market in India. "Reliance's telecom subsidiary -Jio - has garnered a large number of paying subscribers. Service quality perceptions continue to improve. Data demand appears to be sticky, and relatively less price sensitive," it said. "Reliance is also completing a major petrochemicals expansion, which should significantly increase its free cash flow potential. Continued improvements at Jio and FCF (free cash flow) generation should drive upside." Explaining the rationale behind the recommendation, it said it maintained 'Buy' on Reliance Industries after finding find risk-reward favorable as it heads into its Annual General Meeting (likely in August). With Jio making investments in 5G, BofA Securities sees further room for the company to gain market share -- mainly at the expense of Vodafone Idea. "Furthermore, any better-than-expected revenues in fiber broadband or digital initiatives could surprise positively." The Indian conglomerate foraying into "high-margin" niches like chocolates, cosmetics, and beverages by making acquisitions is also a positive, BofA Securities said. Further, it said Reliance's oil-to-chemical business is well positioned to generate $9-9.5 billion EBITDA for the next three years, thus providing cash-flow stability. "We also consider <keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword> to be one of the very few Indian companies who have potential to be big in clean energy space mainly in solar, battery, electrolyser and fuel cells as they are setting gigafactories," it added. (ANI)

Reliance among BofA Securities' top 10 Asia Pacific stock recommendations

<ul><li>Indian billionaire <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> has upped the stakes with an investment of $25.76 million in <keyword id="2392602" type="PERSON" weightage="20" keywordseo="skytran">skyTran</keyword>, acquiring a majority stake.</li><li>skyTran, not unlike <keyword id="6355315" type="UNKNOWN" weightage="20" keywordseo="elon-musk">Elon Musk</keyword>’s <keyword id="6396317" type="UNKNOWN" weightage="20" keywordseo="Hyperloop">Hyperloop</keyword>, used the power of magnets to offer a carbon emissions-free of travelling faster within urban cities.</li><li>Hyperloop already has three projects going in India — Mumbai to Pune, Bengaluru Airport connectivity, and Delhi to Chandigarh.</li></ul>A battle of the billionaires is unfolding in India between Asia’s richest man, Mukesh Ambani and founder of <keyword id="6360701" type="DEFINITION" weightage="20" keywordseo="spacex">SpaceX</keyword> and <keyword id="107096" type="COMPANY" weightage="20" keywordseo="Tesla">Tesla</keyword>, Elon Musk. Ambani’s <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> has acquired a US-based transportation company developing pod taxis, that the conglomerate initially invested in three years ago, through its subsidiary Reliance Strategic Business Ventures. Both skyTran and Musk’s Hyperloop are in the business of making pod taxis. Also called personal rapid transit (PRT), these are a type of small public transport facility that feature small automated vehicles that operate within a network of specially built tracks. <div type="image" title="skytran pod_edited" msid="81267236" hostid="261" caption="&amp;lt;p&amp;gt;SkyTran&amp;#39;s pod taxis for intra-city transport&amp;lt;/p&amp;gt;"></div> Hyperloop and skyTran taxis use the power of magnets to move around at speeds that can theoretically reach upto <a href="https://www.businessinsider.in/virgin-hyperloop-one-has-hired-on-one-of-the-worlds-most-experienced-transit-executives-as-its-new-ceo/articleshow/66549678.cms">240 kilometres per hour.</a> Hyperloop, already, has three projects in the works within India. One connecting Mumbai to Pune, another increasing the connectivity to the Bangalore International Airport and the latest endeavour to connect Chandigarh to India’s capital city, New Delhi. <div type="image" title="virgin hyperloop india_edited" msid="81267192" hostid="261" caption="&amp;lt;p&amp;gt;Elon Musk-owned Virgin Hyperloop One&amp;#39;s pod for the Mumbai-Pune connectivity project&amp;lt;/p&amp;gt;"></div> “skyTran has developed breakthrough passive magnetic levitation and propulsion technology for implementing personal transportation systems aimed at solving the problem of traffic congestion globally,” said Reliance in its <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/352332a8-a32a-49d5-a45d-6ae3c68b2da1.pdf">regulatory filing</a>. This comes within days of Ambani announcing that he will <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-says-he-will-make-batteries-ahead-of-a-boom-in-electric-vehicles/articleshow/81166590.cms">make batteries</a> for electric vehicles ahead of the boom resonating with Musk’s plans with Tesla. While Tesla makes its lionshare of revenue from the actual cars, Musk has invested in energy generation and storage in a big way. Musk had earlier revealed that his company may set up a <a href="https://www.electrive.com/2020/12/29/tesla-makes-headway-in-germany-and-india/">Gigafactory within India</a> once it starts manufacturing electrical vehicles in India. Its office is already set up in Bangalore with plans for a manufacturing plant soon to follow, according to <a href="https://timesofindia.indiatimes.com/business/india-business/tesla-to-set-up-electric-car-manufacturing-unit-in-karnataka/articleshow/80900006.cms">reports</a>. skyTran vs Hyperloop The idea to introduce pod taxis in India was led by Minister for Road Transport and Highways, Nitin Gadkari, in 2016. A year later, in 2017, a panel headed by Indian government’s policy think tank NITI Aayog cleared the ministry’s proposal to test three rapid transport systems using pod taxis. The short-listed candidates were New Zealand’s Metrino Personal Rapid Transit, UK’s Ultra Global PRT and US-based skyTran. Ultra Global uses rubber tyres that run on specially made tracks and Metrino’s pods are suspended from overhead rails. Of the three, skyTran is the only one that uses magnetic levitation to move pod taxis from point to point, making it the only competitor to Hyperloop’s hopes in India. Rather than typing up with the central government, Hyperloop chose to work on projects with state governments. It has been working with the Maharashtra government to build the world’s first commercial Hyperloop corridor running between Pune and Mumbai. The Musk-owned enterprise is also working on increasing connectivity to the Bangalore Airport. In November last year, Hyperloop had a major breakthrough. It successfully <a href="https://www.businessinsider.in/tech/news/hyperloop-pod-carries-two-humans-through-a-tube-at-over-160-kmph-for-the-first-time-ever/articleshow/79121765.cms">carried two humans</a> through a tube in one of its magnetically levitated pods at 160 kilometers per hour. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[]]></cdata></div> Both of these companies may use magnetically levitating taxis to bet on the future but there is a key difference in the application of their respective technologies. Hyperloop is great for travelling longer distances, more between cities than within the city itself. skyTran, on the other hand, is focused on intra-city transport. Reliance started out by acquiring 12.7% of skyTran in October 2018. Next year, in November 2019, ir raised its stake to 17.37%,. By April 2020, Reliance put in a third tranche of investment to bring its stake up <a href="https://www.livemint.com/companies/news/ril-raises-stake-in-us-based-skytran-to-26-3-11588157023518.html">to 26.3%</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-ratan-tata-and-anand-mahindra-might-come-together-for-indias-new-national-hydrogen-mission/articleshow/80645570.cms">Mukesh Ambani, Ratan Tata, and Anand Mahindra might come together for India’s new National Hydrogen Mission</a> <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-says-he-will-make-batteries-ahead-of-a-boom-in-electric-vehicles/articleshow/81166590.cms">Mukesh Ambani says he will make batteries ahead of a boom in electric vehicles⁠</a>

Elon Musk is facing a challenge from Asia’s richest man Mukesh Ambani in India⁠— both in energy and transportation

<ul><li><keyword id="152170" type="COMPANY" weightage="20" keywordseo="Saudi-Aramco">Saudi Aramco</keyword>’s chairperson Yasir al-Rumayyan’s appointment to the <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword>’s board</li><li>The strategic partnership with Saudi Aramco is a part of Reliance agenda to expand its oil-to-chemical business</li><li>Reliance is developing a Dhirubhai Ambani Green Energy Giga Complex to create solar energy</li></ul>Mukesh Ambani-led Reliance Industries officially announced the strategic deal with Saudi Aramco, at its 44th annual general meeting (AGM) held today at 2 p.m. The strategic partnership with oil major Saudi Aramco is a part of the company’s vision of achieving accelerated growth in its oil-to-chemical (O2C) business, Reliance’s Chairperson and Managing Director Ambani announced today. He further added that the partnership is expected to be “formalised in an expeditious manner during this year.” "We operationalised the JV [joint venture] with BP [of UK] in fuel retailing, using technology and innovation to deliver new customer value. The demand and margin environment for petrochemicals had recovered to pre-COVID levels by March. I am confident that our O2C [oil-to-chemicals] business will benefit from the strong global growth environment,” Ambani. Saudi Aramco’s chairperson Yasir al-Rumayyan’s appointment to the Reliance’s board is seen as another positive sign for this deal initially announced in 2019. “He is one of the most renowned names in energy finance and technology globally. I am sure that we will immensely benefit from his rich experience with one of the world's largest companies, and also one of the largest sovereign wealth funds in the world,” Ambani said. Here are some of the highlights from Reliance Industries’ AGM <ul><li><keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword> to invest over ₹60,000 crore in new energy business: Ambani, at the 44th AGM, also specified Reliance Industries’ mega plans for green energy this year with four new projects -- integrated solar photovoltaic module factory, advanced storage battery factory, electrolyser factory, fuel cell factory. It has also established a Reliance New Energy Council. The company is working on its first integrated Solar Photovoltaic Gigafactory that will create solar energy. It targets to achieve costs that are lowest in the world to ensure affordability of our solar modules. Besides this, Reliance has started work on developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar in Gujarat. “It will be amongst the largest such integrated renewable energy manufacturing facilities in the world,” Ambani said.</li></ul><ul><li>Reliance looks to boost its E&amp;P business: “In our E&amp;P [exploration and production] business, BP and Reliance commenced production in the KGD6 basin. Our JV brought two of our three toughest deep water gas projects to production. This has been accomplished in record time and set a new global benchmark for capital costs… This will establish Reliance again as one of the largest domestic producers of gas in India, meeting 20 percent of India's gas demand. E&amp;P will again be a source of significant value and sustained earnings growth over the next decade,' Ambani said.</li></ul><ul><li>Google and Reliance have announced a new 5G partnership today at the AGM: “As a part of these collaborations, Reliance will also shift its core retail businesses to Google cloud infrastructure. They will be able to take advantage of Google’s artificial intelligence (AI) and machine learning (ML), e-commerce and demand forecasting offerings. Harnessing the quality and performance of Google Cloud will enable these businesses to scale up as needed to respond to the customer demand. Empowering businesses as they embark on their digital journeys, is a key part of our mission in India. I am excited for the innovation this partnership will help unleash.”</li></ul><ul><li><keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword>Phone Next, a 4G smartphone developed by Jio and Google, will be available in India from September 10. “JioPhone Next is a fully featured smartphone supporting the entire suite of applications from both Google and Jio,” Ambani added.</li></ul>Here is a full list of highlights from <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s virtual address at Reliance Industries’ AGM: <ul><li>“Jio became the first operation, outside of China, to achieve 400 million subscribers,” said Ambani.</li><li>Reliance Industries conducted 6.8%, or ₹1,45,143 crore, of India’s total merchandise export across 107 countries.</li><li>The company paid ₹21,044 crore for customs and excise duty. About ₹85,306 crore as goods and services tax (GST) and value added tax (VAT). Nearly, ₹3,213 crore as income tax.</li><li>Reliance added 75,000 new jobs in the financial year 2021.</li><li>Reliance Retail’s growth to triple in the next 3-5 years: “We are committed to grow our business so that we are among the top 10 retailers globally. I am confident that Reliance Retail is on a hyper growth trajectory to grow at least 3x in the next 3-5 years.”</li><li>“Today, Reliance is producing over 11% of India’s medical grade liquid oxygen,” <keyword id="7024" type="PERSON" weightage="20" keywordseo="Nita-Ambani">Nita Ambani</keyword>, a director of RIL, said in her address during the AGM.</li></ul>SEE ALSO: <h1 style="margin-bottom: 10px; padding-bottom: 15px; border-bottom: 1px solid rgb(238, 238, 238); font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 1.6rem; line-height: 1.2em; font-family: LabGrotesque-Black, Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(17, 21, 22); background-color: rgb(255, 255, 255);"><a href="https://www.businessinsider.in/tech/mobile/news/jiophone-next-smartphone-announced-check-out-features-launch-date/articleshow/83806398.cms" data-type="tilCustomLink">Reliance announces JioPhone Next smartphone in partnership with Google – available from September 10</a> <a href="https://www.businessinsider.in/tech/news/jio-google-5g-announcement-google-cloud-reliance-retail-jiomart/articleshow/83807617.cms#:~:text=Jio's%20networking%20prowess-,Jio%20and%20Google%20come%20together%20for%205G%2C%20leveraging%20Google's,expertise%20and%20Jio's%20networking%20prowess&amp;text=Reliance%20will%20use%20Google%20Cloud,Android%20smartphone%2C%20the%20JioPhone%20Next." data-type="tilCustomLink">Jio and Google come together for 5G, leveraging Google’s cloud expertise and Jio’s networking prowess</a> <a href="https://www.businessinsider.in/tech/news/google-insiders-say-theyre-unhappy-with-its-risk-averse-style-as-the-company-grows-with-36-vps-quitting-in-a-year/articleshow/83748221.cms#:~:text=Google%20insiders%20say%20they're,VPs%20quitting%20in%20a%20year&amp;text=The%20New%20York%20Times%20found,shut%20down%20%22vanity%20projects.%22" data-type="tilCustomLink">Google insiders say they're unhappy with its risk-averse style as the company grows, with 36 VPs quitting in a year</a></h1>

Reliance Industries’ AGM — Mukesh Ambani officially announces Saudi Aramco as strategic partner

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul><li><a href="http://www.businessinsider.com/category/tesla">Tesla</a> may build a Gigafactory in Germany, CEO <a href="http://www.businessinsider.com/category/elon-musk">Elon Musk</a> said on Tuesday.</li><li><a href="http://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> has a Gigafactory in Sparks, Nevada, that makes batteries and powertrains for its vehicles.</li><li>Future Gigafactories will house battery, powertrain, and vehicle production.</li><li>During the company's annual shareholder meeting on June 4,&#xa0;Musk discussed Tesla's plans to build a Gigafactory in Shanghai, China.</li></ul> Tesla may build a Gigafactory in Germany, CEO Elon Musk said on Tuesday.Musk <a href="https://twitter.com/elonmusk/status/1009014824280342529?ref_src=twsrc%5Etfw&amp;ref_url=https%3A%2F%2Felectrek.co%2F2018%2F06%2F20%2Ftesla-germany-new-gigafactory%2F">said</a> on Twitter that Germany is one of Tesla's preferred locations for a European Gigafactory. He said the company could possibly locate the factory on the border of Germany and France.Tesla's European headquarters and an assembly plant are located in the Netherlands. Musk <a href="https://twitter.com/elonmusk/status/1009164260151185408">said</a> on Twitter that Tesla will not move its European headquarters.Tesla has a Gigafactory in Sparks, Nevada, that makes batteries and powertrains for its vehicles.&#xa0;Future Gigafactories will house battery, powertrain, and vehicle production.During the company's annual shareholder meeting on June 4,&#xa0;Musk <a href="http://www.businessinsider.com/elon-musk-details-teslas-gigafactory-plans-in-us-china-europe-2018-6">discussed Tesla's plans</a> to build a Gigafactory in Shanghai, China. Musk said Tesla will announce details about the Chinese Gigafactory as soon as next month.Tesla intends to ultimately build between 10 to 12 Gigafactories, Musk said, which is part of the company's plan to reduce production costs for its vehicles.Musk also discussed plans for the Nevada Gigafactory, which he said is about one-third of its planned size and "will be, by far, the biggest building in the world."Tesla will continue building the Nevada Gigafactory for at least four more years, Musk said.The company began building the Nevada Gigafactory in 2014 amid concerns that the global supply of batteries would not be sufficient to meet the demand for its Model 3 sedan, which starts at $35,000 and is Tesla's first mass-market vehicle. Since its founding, Tesla has made an effort to decrease its reliance on third-party suppliers and produce an increasing percentage of its vehicles in-house.&#xa0;Bottlenecks at the Nevada Gigafactory have contributed to production delays that have slowed the Model 3's rollout.&#xa0;On June 4,&#xa0;<a href="http://www.businessinsider.com/tesla-model-3-scrap-waste-high-gigafactory-2018-5">Business Insider</a>&#xa0;reported that Tesla expects up to 40% of the raw materials used in its battery and powertrain production process to be reworked or scrapped before being sent to the Fremont, California, factory where it assembles its vehicles. Tesla has spent nearly $150 million on scrap materials this year, according to internal estimates reviewed by Business Insider, a figure the company disputed.If you've worked for Tesla and have a story to share, you can contact this reporter at mmatousek@businessinsider.com.Get the latest Tesla stock price<a href="http://markets.businessinsider.com/stock/TSLA-Quote"> here.</a><div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/covergirl-svp-ukonwa-ojo-interview-2018-6">'The beauty industry had really moved on': CoverGirl's Ukonwa Ojo takes us inside the company's biggest ever rebrand</a></h3> <div> </div> </div></hr>

Elon Musk says Tesla is considering building a Gigafactory in Germany

<div class="KonaFilter image-container display-table"><div><div class="image on-image">TeslaTesla CEO Elon Musk said the company's Gigafactory in Sparks, Nevada, is one-third of its planned size.</div></div></div><ul><li><a href="http://www.businessinsider.com/category/tesla">Tesla</a> CEO <a href="http://www.businessinsider.com/category/elon-musk">Elon Musk</a> provided details about the company's plans for its current and future Gigafactories at Tesla's annual shareholder meeting on Tuesday. </li><li>Musk discussed <a href="http://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>'s plans to build Gigafactories in China and Europe.</li><li>He also said the Nevada Gigafactory is about one-third of its planned size and "will be, by far, the biggest building in the world." </li></ul> Tesla CEO Elon Musk provided details about the company's plans for its current and future Gigafactories at Tesla's annual shareholder meeting on Tuesday. The company currently has one Gigafactory in Sparks, Nevada, that makes batteries and powertrains for its vehicles. Future Gigafactories will house battery, powertrain, and vehicle production. On Tuesday, Musk discussed Tesla's plans to construct a Gigafactory in China, which will be located in Shanghai. Musk said Tesla will announce details about the Chinese Gigafactory as soon as next month.Musk also said Tesla will build a European Gigafactory, which may be announced by the end of the year. Tesla plans to ultimately build between 10 and 12 Gigafactories, according to Musk, which is part of the company's plan to reduce production costs for its vehicles."Particularly as we try to make cars more and more affordable, it's getting important to localize production to at least the continent level," Musk said on Tuesday. Musk also discussed plans for the Nevada Gigafactory, which he said is about one-third of its planned size and "will be, by far, the biggest building in the world." Tesla will continue building the Nevada Gigafactory for at least four more years, Musk said.The company began building the Nevada Gigafactory in 2014 amid concerns that the global supply of batteries would not be sufficient to meet the demand for its Model 3 sedan, which starts at $35,000 and is Tesla's first mass-market vehicle. Since its founding, Tesla has made an effort to decrease its reliance on third-party suppliers and produce an increasing percentage of its vehicles in-house.Bottlenecks at the Nevada Gigafactory have contributed to production delays that have slowed the Model 3's rollout. In January, <a href="https://www.cnbc.com/2018/01/25/tesla-employees-say-gigafactory-problems-worse-than-known.html">CNBC</a> reported that Tesla was making some parts of the batteries by hand that would normally be made by machines, <a href="http://www.businessinsider.com/tesla-building-model-3-batteries-by-hand-quality-questioned-report-claims-2018-1">despite concerns about precision and safety</a>. Tesla called the report "extremely misinformed and misleading" and denied that Model 3 batteries were potentially dangerous.On Monday, <a href="http://www.businessinsider.com/tesla-model-3-scrap-waste-high-gigafactory-2018-5">Business Insider</a> reported that Tesla expects up to 40% of the raw materials used in its battery and powertrain production process to be reworked or scrapped before being sent to the Fremont, California, factory where it assembles its vehicles. Tesla has spent nearly $150 million on scrap materials this year, according to internal estimates reviewed by Business Insider, a figure the company disputed.Get the latest Tesla stock price<a href="http://markets.businessinsider.com/stock/TSLA-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/sallie-krawcheck-impact-investing-diversity-benefits-of-investing-in-women-2018-6">Former Wall Street CEO reveals how most financial products designed for women completely miss the point</a></h3> <div> </div> </div>

Elon Musk reveals new details about Tesla's plans to build Gigafactories around the world

<ul><li><keyword id="4393078" type="General" weightage="20" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> has invested in an Israeli battery technology company StoreDot.</li><li>The company has claimed that this is the first of several global strategic investments it plans to make.</li><li><keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> Electric was set up in 2017 to run electric taxis on Ola, a cab hailing company that competes with Uber.</li></ul>Ola Electric — the electric vehicle (EV) arm of ANI Technologies — on Monday announced that it has invested in an Israeli battery technology company StoreDot, a company that makes extreme fast charging (XFC) technology for emobility. The company has claimed that this is the first of several global strategic investments it plans to make. This will be a part of Ola Electric’s plan to ramp up its core research and development (R&amp;D) in advanced cell chemistry and manufacturing as well as other battery technologies and new energy systems. As a part of the deal, Ola Electric will have access to StoreDot’s state of the art XFC battery technology that charges a battery from 0 to 100% in just 5 minutes. The Indian company — <a href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-another-200-million-this-time-at-a-valuation-of-5-billion/articleshow/89088739.cms">valued at $5 billion</a> in January — will have the exclusive rights to manufacture batteries integrating StoreDot’s fast charge technology in India. The company also plans to set up a gigafactory for manufacturing cells and meet the demand generated by Ola Future Factory. The company claims to have already submitted a bid under the Indian government’s production linked incentive (PLI) scheme for Advanced Chemistry Cell Battery Storage. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[ ]]></cdata></div> “The future of EVs lies in better, faster and high energy density batteries, capable of rapid charging and delivering higher range. We are increasing our investments in core cell and battery technologies and ramping up our in-house capabilities and global talent hiring, as well as partnering with global companies doing cutting edge work in this field,” Bhavish Aggarwal, founder and chief executive officer (CEO) of Ola, said. Ola Electric was set up in 2017 to run electric taxis on Ola, a cab hailing company that competes with Uber. However, the company decided to pivot into electric vehicle (EV) manufacturing and set up the world’s largest electric two-wheeler factory in Tamil Nadu. The said factory is entirely run by women. The company is currently developing its electric scooter, which competes with the likes of Ather 450X, TVS iQube and the new Bajaj Chetak. It has raised over $800 million to date, <a href="https://www.crunchbase.com/organization/ola-electric/investor_financials">according</a> to business intelligence platform Crunchbase. The company counts Tiger Global, SoftBank, Matrix and others. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/adani-group-ioc-bpcl-hpcl-reliance-hdfc-and-other-hot-stocks-on-march-21/slidelist/90344098.cms">Adani group, IOC, BPCL, HPCL, Reliance, HDFC and other hot stocks on March 21</a> <a href="https://www.businessinsider.in/investment/news/india-is-working-on-crypto-classification-under-gst-law/articleshow/90344895.cms" data-type="tilCustomLink">India is working on crypto classification under GST law</a> <a href="https://www.businessinsider.in/investment/news/crypto-tax-in-india-kicks-in-from-april-heres-all-you-need-to-know/articleshow/90344479.cms">India’s cryptocurrency tax kicks in from April – here’s what investors need to know</a>

Ola Electric just invested in a company that can fully charge its electric scooters in five minutes

<div class="KonaFilter image-container display-table float_right"><div><div class="image">REUTERS/Danny Moloshok</div></div></div>Goldman Sachs has set an estimated date for when they believe residential solar power becomes competitive with existing electric across the U.S. 
It's relatively soon. 
And it's mostly thanks to Elon Musk. 
Here's their timeline, from their latest note on Tesla:
<ul>
<li>First, assuming the Gigafactory - the giant manufacturing facility that will soon begin pumping out lithium ion batteries to be used in both Tesla vehicles and renewable energy storage units - reaches its potential, the cost of said batteries should drop to $125/KWh by 2020, from a current price of more than $200/KWh, and dropping 3% each year thereafter. </li>
<li>The cost of solar panels continues to fall. Goldman says we can expect an average reduction of 3% annually here as well. That is extremely ambitious - cost reductions have stalled a bit of late - but it does jibe with this famous chart. </li>
</ul>
<div class="KonaFilter image-container display-table"><div><div class="image">CleanTechnica</div></div></div> 
<ul>
<li>Finally, if electricity prices continue to climb in-line with historical increases - something that assumes a steadier economic recovery - prices for existing forms of electricity will increase 3% annually</li>
</ul>
"This puts LCOE at $0.20 by 2033 which would be at parity with the US grid price," Goldman says.
And this could happen even sooner in New York, California, and Hawaii, where electricity is more expensive and especially in places like Hawaii where costs are $0.36 per KWh, the note.
They go on to invoke the two scariest words in the world for utilities: grid defection (people leaving the grid). And they lay out three reasons why, though nothing is imminent, we are heading in that direction. 
Ultimately the holy grail of solar is to move to a situation where the customer is no longer tied to the grid at all. This may be far off, aside from entailing a much more expensive solar/battery system, this is also potentially out of people's comfort zone entailing a 100% reliance on a new system for their electricity needs. That said, decreased reliability from an aging distribution infrastructure, a broadening desire to reduce the carbon footprint, and perhaps most importantly, the reduction of solar panel and battery costs could also work together to make grid independence a reality for many customers one day.
They conclude: "As this is a very high-level exercise, we do not quantify the addressable market in this report, but to us the conclusion is very clear - the potential for this application could be very large."

You Searched For "Reliance Gigafactory" and got 12 results

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Director’s Cut: Mukesh Ambani’s showmanship is great, but what about value unlocking, asks market

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Reliance among BofA Securities' top 10 Asia Pacific stock recommendations

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Elon Musk is facing a challenge from Asia’s richest man Mukesh Ambani in India⁠— both in energy and transportation

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Reliance Industries’ AGM — Mukesh Ambani officially announces Saudi Aramco as strategic partner

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Elon Musk says Tesla is considering building a Gigafactory in Germany

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Elon Musk reveals new details about Tesla's plans to build Gigafactories around the world

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