INSUBCONTINENT EXCLUSIVE:
Major companies like Reliance, L-T and Ola have applied for battery making PLI schemeMajor entities like Reliance Industries, Larsen -
Toubro (L-T), Mahindra - Mahindra, Ola as well as Hyundai Motors are among the 10 companies which have submitted bids under the Rs 18,100
crore production linked incentive (PLI) scheme for battery manufacturing in India.Ministry of heavy industries said in a statement that 10
companies submitted their bids in response to the request for proposal (RFP), which it had released on October 22, 2021.The other companies
which have applied for the PLI scheme are Lucas-TVS Limited, Amara Raja Batteries Limited, Exide Industries Limited, Rajesh Exports
Limited and India Power Corporation Limited.The selected firms would be required to set up manufacturing facilities within a period of two
The incentive will be disbursed thereafter over a period of five years on the sale of batteries manufactured in India.Government
had approved the PLI scheme 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage' for achieving manufacturing capacity of
50 Giga Watt Hour (GWh) of ACC for enhancing country's manufacturing capabilities with a budgetary outlay of Rs 18,100 crore.Under this
scheme, the emphasis is to achieve greater domestic value addition, while at the same time ensuring that the levelised cost of battery
manufacturing in India is globally competitive.The programme envisages an investment that will boost domestic manufacturing and also
facilitate battery storage demand creation for both electric vehicles and stationary storage along with the development of a complete
domestic supply chain and foreign direct investment (FDI) in the country.
