Reliance Infrastructure Limited — Updates, 20-11-2024: Incorporation

Reliance Infrastructure Limited has announced a board meeting to disclose the incorporation of a new wholly-owned subsidiary, Reliance Clean EV Private Limited (RCEVPL), under Reliance Velocity Limited. The subsidiary has a paid-up capital of ₹1 lakh and aims to manufacture and deal in vehicles and components using various fuels. This strategic move positions Reliance to expand its footprint in the automobile sector, diversifying its operations. Investors may view this positively as it opens avenues in the growing electric vehicle market, though the subsidiary is yet to commence operations.