Reliance Infrastructure Expands into Automobile Sector with New Subsidiary

Reliance Infrastructure Ltd. has announced the creation of a new subsidiary, Reliance Clean EV Private Ltd. (RCEVPL), through its wholly owned subsidiary, Reliance Velocity Ltd. (RVL).

The firm disclosed its new subsidiary in its exchange filing, stating, "RCEVPL was incorporated on November 20, 2024, as a wholly owned subsidiary of Reliance Velocity Limited (RVL), which is  a wholly owned subsidiary of the Company. The Certificate of Incorporation was received from the Ministry of Corporate Affairs on November 20, 2024."

RCEVPL has an authorised and paid-up share capital of INR 1,00,000, consisting of 10,000 equity shares valued at INR 10 each. Reliance Velocity Ltd. (RVL) holds 100 percent of the share capital of Reliance Clean EV Private Ltd. (RCEVPL). The establishment of this subsidiary marks a new phase in  Reliance Infrastructure's  business activities through RVL, expanding its reach into the automobile and related sectors.

The new entity has been established to focus on manufacturing and trading vehicles of various types and components for transport and conveyance using multiple fuel options. It belongs to the automobile and related activities industry. RCEVPL is wholly owned by RVL.

As RCEVPL has just been formed, it is yet to start business operations. This also marks Reliance Infrastructure’s entry into the electric vehicle space, diversifying its portfolio from its traditional sectors of energy and infrastructure.

It may be noted that in September this year, media reports suggested that Reliance Infrastructure was planning to manufacture electric cars and batteries. The company also hired the former India head of China's BYD Co. to advise on these plans.

Reliance Infrastructure aims to contribute to India’s sustainable mobility goals and capitalise on the growing demand for electric vehicles in the country.