Reliance Industries pauses battery cell plans in India

India's Reliance Industries has paused ​plans to manufacture lithium-ion battery ‌cells in India after ⁠failing to secure ‌Chinese technology, Bloomberg News reported on Sunday.

The Mukesh Ambani-led conglomerate, which aimed to start manufacturing cells this year, ​had been in discussions with Chinese energy storage firm Xiamen Hithium Energy Storage Technology to ‌license ‌its cell technology, according to the report.

The talks stalled ⁠after Xiamen withdrew from the partnership following China's curb on overseas technology transfers, the report ⁠said, prompting Reliance ⁠to refocus on assembling battery energy ‌storage systems.

Reuters could ‌not immediately verify the report.

Reliance Industries did not immediately respond to Reuters' request ‍for a comment outside regular business hours.

Last October, Beijing announced controls on exports of lithium battery components, requiring exporters to obtain permits, tightening China's grip on technology critical for energy ​storage and ‌electric vehicles.