Reliance Infrastructure Limited — Updates, 10-12-2024: Incorporation

Reliance Infrastructure Limited has announced a board meeting to discuss the incorporation of a new wholly-owned subsidiary, Reliance EV Go Private Limited, under its subsidiary Reliance Velocity Limited. This new entity will focus on the manufacturing, buying, and selling of electric vehicles and their components, indicating a significant shift towards the EV sector. The initial investment, reported at ₹1,00,000 (1 Cr), positions the company strategically in the growing automobile market. This expansion could positively influence investor sentiment by showcasing Reliance's commitment to diversifying its portfolio in the sustainable transport space.