Reliance Acquires Lithium Iron Phosphate Battery Maker for $61 Million

The transaction is expected to complete by June 2022

March 15, 2022

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Reliance New Energy Limited (RNEL), a wholly-owned subsidiary of Reliance Industries, substantially acquired all assets of Lithium Werks BV, a provider of cobalt-free Lithium Iron Phosphate (LFP) batteries, for $61 million, including funding for future growth.

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Gourav Mishra

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Reliance Acquires Lithium Iron Phosphate Battery Maker for $61 Million

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