Reliance Industries MD Mukesh Ambani said that acquiring majority equity stake in skyTran reflects the company s commitment to invest in building futuristic technologies.
The outfit claimed responsibility by posting a message on Telegram, which went viral on social media and came to the notice of Mumbai police, an official said.
March 1, 2021
Mukesh Ambani has yet again displayed his seriousness towards technology but experts believe it might be too soon to call his oil-to-telecom conglomerate “tech-first.”
On Feb. 28, Ambani’s Reliance Industries (RIL) said it had bought an additional stake in skyTran, a US-based company that has developed a technology for running pod taxis, for $26.76 million (Rs196 crore). RIL had first picked up a 12.7% stake in skyTran in 2018 and bought some additional shares of the company in 2019 and 2020. With the recent deal, RIL’s stake in skyTrans stands at 54.5%. All these investments have been done through RIL’s subsidiary Reliance Strategic Business Ventures.
Two of RIL’s latest announcements increasing shareholding in skyTran and making batteries for electric vehicles (EVs) are proof that Mukesh Ambani’s company is now focusing on greener sources of energy and transportation, matching the global trend amid the possibility of a renewable energy boom in India.