Nitin Seth, Former COO at Ashok Leyland, Joins Reliance Industries New Energy Biz, Auto News, ET Auto
Nitin Seth, the former COO of Ashok Leyland, has been recruited by Reliance Industries to be part of a pilot team, to lead its new energy business, said two people familiar with the development.
Seth was among the key architects in forming the EV arm of the nation’s second largest truck maker – Ashok Leyland’s Switch Mobility. He also has over three decades of automotive experience delivering projects from top to bottom.
Despite repeated attempts, Seth did not respond. An email sent to Reliance Industries did not elicit a response.
Seth has worked in car, medium and heavy duty vehicle, and light duty vehicle product segments. At Ashok Leyland – For over a decade, Seth has led multiple roles from sales and marketing, managing global alliances and providing strategic and operational leadership roles in entirely new projects and product planning.
At Ashok Leyland, Seth laid the foundation for the light commercial vehicle industry – first in a joint venture with Nissan and eventually turned the company into an independent operation. In addition to the LCV business, he has led other growth areas such as defense, energy solutions and international operations.
Reliance Industries is committed to investing $ 10 billion in renewable energy, including a solar module, advanced storage for hydrogen fuel cells and electrolyzers in three years. India’s largest private company is putting together a team. Seth is expected to take over the hydrogen fuel cell and electric battery businesses in the mobility division.
Over the next 3 years, Reliance will spend Rs 60,000 crore to build four “Giga factories” to manufacture integrated photovoltaic solar modules, electrolysers, fuel cells and batteries to store grid energy. The site for these plants will be located in the new 5,000-acre Green Energy Giga complex in Jamnagar.
Incentives worth Rs 26,058 cr will be offered under the PLI program for the automotive sector, automotive components and the drone sector. Reliance’s new energy company is expected to be a major player in the government’s recently introduced production incentive program.
For batteries, Reliance is looking to build large-scale grid batteries and will work with world leaders on the technology.
Regarding hydrogen, Reliance plans to build and install electrolysers to produce green hydrogen that can be used for transportation and stationary power applications through its self-produced fuel cells. While there is no breakdown of the capital expenditure that will be spent, it shows what Reliance could achieve in terms of net capacity based on current plant costs.