Reliance Industries to acquire assets of cobalt-free lithium battery technology and manufacturing of Lithium Werks for $61m.

Reliance Industries, an Indian multinational conglomerate company, agreed to acquire assets of cobalt-free lithium battery technology and manufacturing of Lithium Werks, a manufacturer of lithium iron phosphate batteries, for $61m. “Lithium Werks is one of the leading LFP cell manufacturing companies globally and has a vast patent portfolio and a management team which brings tremendous experience of innovation across LFP value chain," Mukesh Ambani, Reliance Industries Chairman and Managing Director.