Other bidders include Mahindra & Mahindra, electric two-wheeler major Ola Electric Mobility, Lucas-TVS Limited, Rajesh Exports Limited, Larsen & Toubro Limited, India Power Corporation Limited
A total of 10 companies with a capacity ~ 130 Gwh, including conglomerates Reliance Industries and Hyundai Motors, have submitted their bids under the production-linked incentive (PLI) scheme for Advanced Chemistry Cell (ACC) Battery Storage.
Other bidders include Mahindra & Mahindra, electric two-wheeler major Ola Electric Mobility, Lucas-TVS Limited, Rajesh Exports Limited, Larsen & Toubro Limited, India Power Corporation Limited. Homegrown battery companies Amara Raja Batteries Limited and Exide Industries Limited also were among the bidders.
The Ministry of Heavy Industries said in a statement that the scheme received an encouraging response from local as well as global investors as bids received is 2.6 times the manufacturing capacity to be awarded i.e. 50 Gwh.
The manufacturing facility would have to be set up within a period of two years. The incentive will be disbursed thereafter over a period of five years on sale of batteries manufactured in India.
The Request for Proposal (RFP) for the PLI scheme was released by Ministry of Heavy Industries (MHI) on 22nd October 2021.
The Government approved the PLI Scheme ‘National Programme on Advanced Chemistry Cell (ACC) Battery Storage’ for achieving manufacturing capacity of 50 GWh of ACC for enhancing India’s manufacturing capabilities with a budgetary outlay of Rs 18,100 crore.
The Centre said that the program is designed in such a manner that it is technology agnostic. The beneficiary firm shall be free to choose suitable advanced technology and the corresponding plant & machinery, raw material and other intermediate goods for setting up cell manufacturing facility to cater to any application.
This PLI scheme, along with the already launched PLI Scheme for automotive sector and Faster Adaption of Manufacturing of Electric Vehicles (FAME) will enable India to leapfrog from traditional fossil fuel-based automobile transportation system to environmentally cleaner, sustainable, advanced and more efficient EV based system, as per the statement.
