Government complete approval process for battery cell PLI scheme
The government has completed the approval process for the battery cell production linked incentive scheme and CNBC-TV18 learned that bids of four companies are likely to be approved.
The government has completed the approval process for the battery cell production linked incentive scheme and CNBC-TV18 learned that bids of four companies are likely to be approved.
This is probably one of the most important aspects of the EV ecosystem in India, lowering battery costs and localization of battery manufacturing.
The Advanced Chemistry Cell (ACC) PLI scheme had an outlay of Rs 18,100 crore and it envisaged setting up of 50 gigawatt hour capacity in India.
10 companies had applied for this scheme - - Reliance New Energy Solar, Mahindra and Mahindra, L&T, Ola Electric, Hyundai, Lucas-TVS, Amara Raja Batteries, Exide, Rajesh Exports, India Power Corp.
The bids that we received were for 130 gigawatt hour against the targeted setting up of capacity of 50 gigawatt hour. We believe that Reliance Industries, Ola electrics would be among the approved applicants, four companies are likely to be chosen. The announcement could come as early as Monday.
Also Read: Govt receives huge response to PLI for auto, auto components: Heavy Industries Minister MN Pandey
Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
First Published: Mar 17, 2022 9:05 PM IST
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