Reliance New Energy Solar to acquire Faradion Limited; Deal Aims to Make EV Batteries Cheaper

Reliance New Energy Solar, a wholly-owned subsidiary of Reliance Industries has signed an agreement to acquire Faradion Limited, a leading sodium-ion battery technology company. Faradion's batteries have wide use applications from mobility to grid-scale storage and backup power. Its batteries utilise sodium that will secure India's energy storage requirements for renewable energy and the fast-growing electric vehicle market.

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