Four firms qualify to avail PLI benefits for ACC battery storage

25 Mar 2022 CW Team

Union Cabinet Minister for Heavy Industries Dr Mahendra Nath Pandey told the media that today, the growth in demand for EVs due to a favourable regulatory framework, has mostly attracted investment in this sector. Today giant firms are investing in electric vehicle manufacturing in India and are curious to join us. Growth in the EV segment of the auto industry will allow us to achieve India's commitment to Panchtantra given by PM Narendra Modi in COP 26 and will deliver employment opportunities to Indian youth.

The Central Government has permitted the production linked incentive (PLI) Scheme 'National Programme on advanced chemistry cell (ACC) battery storage’ for attaining production capacity of 50 gigawatt hour (GWh) of ACC for boosting India’s manufacturing capabilities with a budgetary outlay of Rs 18,100 crore.

Under the initiative, the Government aims to attain greater domestic value addition, while at the same time guaranteeing that the levelized cost of battery production in India is globally competitive. The program is designed in such a manner that it is technology agnostic.

The beneficiary company shall be free to select suitably advanced technology and the corresponding plant and machinery, raw material and other intermediate goods for establishing a cell production facility to provide to any application.

The programme envisions an investment that will increase domestic manufacturing and additionally boost battery storage demand creation for both electric vehicles and stationary storage along with the development of a complete domestic supply chain & foreign direct investment (FDI) in the nation.

ACC PLI scheme is likely to expedite EV adoption and thus translate into net savings of Rs 2,00,000 crore to Rs 2,50,000 crore on account of oil import bill during the period of this Programme and improve the share of renewable energy at the national grid level.

This PLI scheme for Advanced Chemistry Cell (ACC) ( Rs 18,100 crore) along with the already rolled out PLI Scheme for the automotive sector (Rs 25,938 crore) and Faster Adoption of Manufacturing of Electric Vehicles (FAME) (Rs 10,000 crore) will allow India to leapfrog from traditional fossil fuel-based automobile transportation system to environmentally cleaner, sustainable, advanced and more efficient Electric Vehicles (EV) based system.

Image Source

Also read: Govt to increase fund allocation for solar PLI scheme to Rs 240 bn

A total of 4 companies are selected, including Reliance New Energy Solar Limited, Ola Electric Mobility Private Limited, Hyundai Global Motors Company Limited, and Rajesh Exports Limited, for an incentive under production linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage. Union Cabinet Minister for Heavy Industries Dr Mahendra Nath Pandey told the media that today, the growth in demand for EVs due to a favourable regulatory framework, has mostly attracted investment in this sector. Today giant firms are investing in electric vehicle manufacturing in India and are curious to join us. Growth in the EV segment of the auto industry will allow us to achieve India's commitment to Panchtantra given by PM Narendra Modi in COP 26 and will deliver employment opportunities to Indian youth. The Central Government has permitted the production linked incentive (PLI) Scheme 'National Programme on advanced chemistry cell (ACC) battery storage’ for attaining production capacity of 50 gigawatt hour (GWh) of ACC for boosting India’s manufacturing capabilities with a budgetary outlay of Rs 18,100 crore. Under the initiative, the Government aims to attain greater domestic value addition, while at the same time guaranteeing that the levelized cost of battery production in India is globally competitive. The program is designed in such a manner that it is technology agnostic. The beneficiary company shall be free to select suitably advanced technology and the corresponding plant and machinery, raw material and other intermediate goods for establishing a cell production facility to provide to any application. The programme envisions an investment that will increase domestic manufacturing and additionally boost battery storage demand creation for both electric vehicles and stationary storage along with the development of a complete domestic supply chain & foreign direct investment (FDI) in the nation. ACC PLI scheme is likely to expedite EV adoption and thus translate into net savings of Rs 2,00,000 crore to Rs 2,50,000 crore on account of oil import bill during the period of this Programme and improve the share of renewable energy at the national grid level. This PLI scheme for Advanced Chemistry Cell (ACC) ( Rs 18,100 crore) along with the already rolled out PLI Scheme for the automotive sector (Rs 25,938 crore) and Faster Adoption of Manufacturing of Electric Vehicles (FAME) (Rs 10,000 crore) will allow India to leapfrog from traditional fossil fuel-based automobile transportation system to environmentally cleaner, sustainable, advanced and more efficient Electric Vehicles (EV) based system. Image Source Also read: Govt to increase fund allocation for solar PLI scheme to Rs 240 bn

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..