Reliance, Mahindra bid for incentives under India’s battery scheme
POWER & RENEWABLE ENERGY

Reliance, Mahindra bid for incentives under India’s battery scheme

Reliance Industries, Hyundai Motor Company, and Mahindra & Mahindra (M&M) are among the firms which have submitted bids for incentives under the government's Rs 18,000-crore billion battery scheme.

In 2021, India finalised an incentive program to promote firms to pump in the local production of batteries since it plans to set up a domestic supply chain for clean transport and build storage for renewable energy.

The deadline to present the technical bids is Friday. Ola Electric, Larsen & Toubro and Amara Raja and Exide have additionally presented proposals.

In five years, India wants to set up a total of 50 gigawatt-hours (Gwh) of battery storage capacity and anticipates a direct investment of nearly $6 billion.

To be eligible for the incentives, firms must install at least 5 Gwh of storage capacity and meet specific local content requirements, all of which would need a minimum investment of over $850 million.

About 10 firms have presented bids totalling close to 100 Gwh.

India was additionally promoting global firms like Samsung, LG Energy, Tesla Inc, Northvolt and Panasonic to fund.

Clean auto technology is a fundamental part of India's plan for decreasing pollution in significant cities and lowering oil dependence.

But electric vehicles (EVs) presently make up a fraction of total sales in the nation largely because of their high cost as batteries are imported.

The South Asian nation requires electric cars to make up 30% of private car sales by 2030 and for electric motorcycles and scooters to make up 40% of such sales, pushing demand for batteries which presently add approximately 35% to 40% of the total vehicle cost.

Image Source

Also read: Amara Raja Batteries to invest in InoBat Auto for e-mobility

Reliance Industries, Hyundai Motor Company, and Mahindra & Mahindra (M&M) are among the firms which have submitted bids for incentives under the government's Rs 18,000-crore billion battery scheme. In 2021, India finalised an incentive program to promote firms to pump in the local production of batteries since it plans to set up a domestic supply chain for clean transport and build storage for renewable energy. The deadline to present the technical bids is Friday. Ola Electric, Larsen & Toubro and Amara Raja and Exide have additionally presented proposals. In five years, India wants to set up a total of 50 gigawatt-hours (Gwh) of battery storage capacity and anticipates a direct investment of nearly $6 billion. To be eligible for the incentives, firms must install at least 5 Gwh of storage capacity and meet specific local content requirements, all of which would need a minimum investment of over $850 million. About 10 firms have presented bids totalling close to 100 Gwh. India was additionally promoting global firms like Samsung, LG Energy, Tesla Inc, Northvolt and Panasonic to fund. Clean auto technology is a fundamental part of India's plan for decreasing pollution in significant cities and lowering oil dependence. But electric vehicles (EVs) presently make up a fraction of total sales in the nation largely because of their high cost as batteries are imported. The South Asian nation requires electric cars to make up 30% of private car sales by 2030 and for electric motorcycles and scooters to make up 40% of such sales, pushing demand for batteries which presently add approximately 35% to 40% of the total vehicle cost. Image Source Also read: Amara Raja Batteries to invest in InoBat Auto for e-mobility

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?