Reliance Industries stock plunges 25% from its high, wiping out Rs 5.4 lakh crore!

The global battery industry is experiencing significant developments. The International Energy Agency (IEA) recently noted that the industry has entered a new phase, with demand expected to surpass 1 terawatt-hour (TWh) in 2024. China dominates production, manufacturing over three-quarters of the world’s batteries, largely driven by the rise of cost-effective lithium iron phosphate (LFP) batteries. This shift is supported by a dramatic drop in lithium prices—down over 85% from their 2022 peak—alongside cheaper minerals and technological advancements, which are reducing costs and fueling growth, particularly in electric vehicle (EV) markets.

In India, Reliance Industries Ltd. (RIL) has been in the spotlight. Its subsidiary, Reliance New Energy Battery Storage Ltd., faced a Rs 3.1 crore penalty for missing a deadline under India’s Production-Linked Incentive (PLI) scheme for a 10 GWh battery plant in Gujarat. The company has requested an extension, with plans to launch its battery gigafactory in Jamnagar by the second half of 2026, though delays have raised questions about its timeline.

Globally, innovation and production challenges coexist. A Capgemini report from late February 2025 highlights the industry’s dual focus: scaling up manufacturing while developing next-generation chemistries like solid-state batteries for EVs. In the U.S., 10 new battery plants are slated to come online in 2025, potentially boosting capacity by 90% to 421.5 GWh annually, though their success may hinge on policy shifts under the incoming Trump administration. Meanwhile, South Korea has tightened airline rules on lithium batteries due to safety risks, reflecting growing concerns about their use in devices like power banks and e-cigarettes.

These updates reflect a dynamic industry balancing rapid expansion, technological evolution, and regulatory hurdles. For the very latest, I could search the web or X posts if you’d like more real-time details! Would you like me to do that?

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