Reliance Bought Majority Equity Stake in skyTran Inc

New Delhi: Reliance Strategic Business Ventures Limited, a wholly owned subsidiary of Reliance Industries Limited, announced that it had purchased an additional equity stake in skytran Inc (“skyTran”). On this, Reliance Industries Chairman Mukesh Ambani said that our majority equity stake in Skytron reflects our commitment in building futuristic technologies that change the world.

Our acquiring majority stake in skyTran reflects our commitment to invest in building futuristic technologies that would transform the world. We are excited by skyTran’s potential to achieve an order of magnitude impact on highspeed intra and inter-city connectivity and its ability to provide a high speed, highly efficient and economical ‘Transportation-As-A-Service’ platform for India and the rest of the world. We firmly believe that non-polluting high-speed personal rapid transportation system will help facilitate environmental sustainability through efficient use of alternative energy and make an impactful reduction in air and noise pollution,” RIL Chairman and Managing Director Mukesh Ambani said.

skyTran is a technology company incorporated under the laws of Delaware, US, in 2011.

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