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India’s Richest Man buys Dutch Battery Maker Lithium Werks

India’s richest man Mukesh Ambani’s Reliance Industries Group announced local time that it has acquired the assets of Dutch battery manufacturer Lithium Werks for $61 million, including about 219 patents, a manufacturing plant in China, key business contracts and current There are employees. This is Reliance’s second investment in electric vehicle batteries in less than three months. Late last year, the company announced it would buy Faradion, a British sodium-ion battery technology company, for £100 million ($135 million). Reliance still generates 60% of its revenue from fossil fuel-related businesses, and the company plans to achieve net-zero emissions by 2035.

Shirley Huang

Shirley Huang is good at capturing the latest technological developments. Dedicated to collecting and analyzing pieces of news. Previously, she studied at Curtin University, Western Australia.

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