Pre-Bid Conference For ACC Battery PLI Took Place on November 12

- Advertisement -
- Advertisement -

Each selected ACC battery Storage manufacturer would have to commit to set-up an ACC manufacturing facility of a minimum of five (5) GWh capacity

More than 100 participants, spanning across 20 companies, have shown interest in participating under the ACC Battery production linked incentive (PLI)scheme. A report by United News of India notes that the Ministry of Heavy Industries (MHI) had organised a pre-bid conference on 12 November 2021. The same was attended by interested bidders.

Under the PLI scheme, the government hopes to achieve direct investment of around Rs 45,000 crore in ACC battery manufacturing. It is also targeting import substitution of around Rs.20,000 crore every year, in accordance with the ‘Atmanirbhar Bharat’ initiative to put greater emphasis upon domestic value-capture.

- Advertisement -

Each selected ACC battery Storage manufacturer would have to commit to set-up an ACC manufacturing facility of a minimum of five (5) GWh capacity and ensure a minimum of 60 per cent domestic value addition at the project level within five years, the statement added.

Furthermore, the beneficiary firms have to achieve a domestic value addition of at least 25 per cent and incur the mandatory investment of Rs 225 crore /GWh within 2 Years (at the Mother Unit Level) and raise it to 60 per cent domestic value addition within 5 Years, either at Mother Unit, in-case of an Integrated Unit, or at the Project Level, in-case of “Hub & Spoke” structure.

Each selected ACC battery Storage manufacturer would have to commit to set-up an ACC manufacturing facility of a minimum of five (5) GWh capacity and ensure a minimum of 60 per cent domestic value addition at the project level within five years, the statement added.

Furthermore, the beneficiary firms have to achieve a domestic value addition of atleast 25 per cent and incur the mandatory investment of Rs 225 crore /GWh within 2 Years (at the Mother Unit Level) and raise it to 60 per cent domestic value addition within 5 Years, either at Mother Unit, in-case of an Integrated Unit, or at the Project Level, in-case of “Hub & Spoke” structure.

“ACCs are the new generation of advanced storage technologies that can store electric energy either as electrochemical or as chemical energy and convert it back to electric energy as and when required. The consumer electronics, electric vehicles, advanced electricity grids, solar rooftop etc. which are major battery consuming sectors are expected to achieve robust growth in the coming years,” the Cabinet had said in a statement.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...
XR Headset Quest 3, Meta

Global XR Headset Shipments See A Major Decline, Sony Rises

0
Sony grabbed a market share of 24% in 2023 up from 1% in 2022. Bulky form factor, and lag, hinder adoption by serious...

Buzz

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...
Keysight Technologies Pvt Ltd Logo

Keysight Acquires Spirent Communications For $1.46 billion, Outbids Rival Viavi Solutions

0
Keysight's offers 85.9% premium over Spirent's closing price on March 4, exceeding Viavi's 61.4% premium. Keysight expects new serviceable available market opportunities of...

Hyundai Motor Boosts EV Investment In Korea

0
The automaker stated that over half of the investment, amounting to 35.5 trillion won will be dedicated to new R&D infrastructure and EV assembly...

Important Sectors

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...
Keysight Technologies Pvt Ltd Logo

Keysight Acquires Spirent Communications For $1.46 billion, Outbids Rival Viavi Solutions

0
Keysight's offers 85.9% premium over Spirent's closing price on March 4, exceeding Viavi's 61.4% premium. Keysight expects new serviceable available market opportunities of...

Hyundai Motor Boosts EV Investment In Korea

0
The automaker stated that over half of the investment, amounting to 35.5 trillion won will be dedicated to new R&D infrastructure and EV assembly...

Jitendra EV Plans Sodium-Ion E-2Ws In Two Years

0
Sodium-ion batteries primarily use table salt and forest industry biomass, making them more readily available domestically. Jitendra New EV Tech, an electric two-wheeler manufacturer based...

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

Manufacturing

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...