Reliance New Energy acquires additional stake in sodium-ion battery major Faradion

Reliance New Energy has completed the acquisition of the remaining stake in Faradion, a UK-based sodium-ion battery technology company. This move makes Faradion a wholly-owned subsidiary of Reliance Industries. The acquisition is part of Reliance's plan to utilize Faradion's technology in its upcoming energy storage giga-factory in Jamnagar.