India To Hold Discussions With Global Companies To Set Up EV Battery Manufacturing Facilities In The Country

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Among these companies are Tesla, LG Energy and Samsung. Northvolt, Panasonic and Toshiba are also part of the discussion plans

As the government intensifies its efforts to speed up the shift to electric mobility in the country, it is reportedly looking to hold talks with several global companies to set up electric vehicle battery manufacturing facilities in India.

Among these companies are Tesla, LG Energy and Samsung, a Reuters report added while citing two close sources. Northvolt, Panasonic and Toshiba are also part of the discussion plans.

India will host five roadshows starting next month in countries including the United States, Germany, France, South Korea and Japan to convince battery makers to set up local production, one of the officials said.

This is in an effort to ensure a global supply chain for clean transport from the country.

This is part of a broader plan of the government to boost battery manufacturing the country, especially given how important of a part it is for EVs. In this purview, it also recently launched a production-linked incentive (PLI) scheme for manufacturing ACC batteries in the country.

While domestic players like Reliance Industries, Adani Group and Tata Group have shown interest, there has been little enthusiasm from global ones so far, one sources told the publication.

Some global companies are hesitant to come in without a local partner as it requires large investment and India still ranks poorly on contract enforcement, he added.

Others are choosing to invest in bigger markets like the United States and Europe where demand for batteries is higher.

“Getting global companies into India will signal seriousness and they will also bring in good technology, quality and safety standards,” the person said.

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