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Read more about RIL buys majority stake in skyTran; invested in future tech, says Ambani on Business Standard. Shareholding of Indian entity at 54.46%; skyTran has developed breakthrough passive magnetic levitation & propulsion tech for personal transportation ....
Reliance Industries ups stake in skyTran Inc to 54.46% for $26.76 million SECTIONS Share Synopsis The acquisition of a majority stake in the technology company that develops pod car transport systems is a part of the company’s strategy to use Reliance Industries as a platform to develop new technologies. Reuters Reliance Industries, through a subsidiary Reliance Strategic Business Ventures, has increased its stake in skyTran Inc to 54.46% from 26.3% earlier with an additional investment of $26.76 million, the conglomerate said late Sunday. The acquisition of a majority stake in the technology company that develops pod car transport systems is a part of the company’s strategy to use Reliance Industries as a platform to develop new technologies. ....