RIL 45th AGM Live: Ambani announces Giga factory for power electronics

From Reliance Industries 45th Annual General Meeting to Covid updates, catch all the latest news here

3:34 PM

45th AGM of RIL concludes

The 45th Annual General Meeting of Reliance Industries concludes, Mukesh Ambani ends his address to shareholders.

3:33 PM

Akash, Isha assume leadership roles at Jio, Reliance Retail, Anant in new energy biz

"Next generation leaders are taking over the range confidently across businesses, verticals and horizontals. Akash and Isha have assumed leadership roles Jio and Reliance Retail (respectively). Anant has also joined in our new energy business with Grade Z," announces Mukesh Ambani.

3:23 PM

Reliance Foundation is working on a 10-year blueprint: Isha Ambani

RIL's charitable arm, Reliance Foundation is working on a 10-year blueprint, Isha Ambani says.

"We are working on a 10-year blueprint that will make our Foundation bigger and more impactful. I will share the plans with you in the coming year. I would once again like to thank my mother for her dedication and energising leadership to the entire team at Reliance Foundation," she says.

 

3:21 PM

Even when RIL expands globally, company retains its Indian soul: Ambani

"Even when Reliance will further expand its global footprints, which it surely will, it will retain its Indian soul and its proud Indian identity," says Mukesh Ambani

3:21 PM

RIL's new energy business will help India become exporter of energy: Ambani

"Reliance Industries' new energy business will help India become a net exporter of energy. It will also strengthen indigenous R&D base and make India a reservoir of intellectual property. Most importantly, it aims to make India a world leader in new energy manufacturing and a credible alternative to China," says Mukesh Ambani at RIL 45th AGM.

 

3:13 PM

Aim to start production of battery packs by 2023: Mukesh Ambani

RIL Chairman Mukesh Ambani says, "Our ambition is to create an end-to-end battery ecosystem, from battery materials to cell manufacturing, leading up to packs and battery management systems to deliver safe and reliable batteries at high energy density and fast charging capabilities."

Ambani says, "Our deep understanding and knowledge of chemistry and materials will add to our competitive advantage in setting up our world-class battery manufacturing facility."

"We aim to start production of battery packs by 2023, and scale it up to 5 GWh by 2024, and further scale it up to 50 GWh by 2027."

3:06 PM

RIL will set up new Giga Factory for power electronics: Ambani

Mukesh Ambani says, "Last year, I had announced setting up of Dhirubhai Ambani Green Energy Giga Complex in Jamnagar to establish four Giga Factories. Today, I would like to announce our new Giga Factory for Power Electronics."

3:05 PM

Reliance Industries will invest Rs 75,000 crore in oil-to-chemical biz in 5 yrs: Ambani

Mukesh Ambani said that Reliance Industries will invest Rs 75,000 crore in oil-to-chemical business over 5 years.

 

 

3:05 PM

Will build India's first, one of the world's largest Carbon Fibre plants at Hazira: Ambani

At the AGM, RIL Chairman Mukesh Ambani says, "We will build in phases India's first and one of the world's largest Carbon Fibre plants at Hazira, with a capacity of 20,000 MTPA.

2:59 PM

Isha Ambani announces launch of Reliance's FMCG business this year

Isha Ambani says, "We opened over 2,500 stores in the year to take our store count to over 15,000, spanning an operational area of 42 million sq-ft. We built an extensive supply chain network with modular design and best-in-class automation...We generated employment for more than 1,50,000 during the year, taking our employee base to over 3,60,000," 

"I am excited to announce that this year, we will launch our fast-moving consumer goods business. The objective of this business is to develop and deliver products that solve every Indian's daily needs with high quality products at affordable pricing," Isha Ambani said.