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

17 Jan 2022 CW Team

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

Infrastructure Urban

12 May 2026

Blue Dart posts revenue growth in FY26 on e-commerce and B2B demand

Blue Dart Express Limited, South Asia’s express air and integrated transportation and distribution company, has reported year-on-year growth in revenue for the financial year ended March 31, 2026, driven by strong momentum in e-commerce shipments and B2B surface express solutions.Announcing its financial results after the Board Meeting held in Mumbai, the company said revenue from operations rose to Rs 6,141 crore in FY2025–26, compared to Rs 5,720 crore in FY2024–25. Profit after tax for the year stood at Rs 240 crore.For the quarter ended March 31, 2026, Blue Dart reported revenue from..

Terex launches TRAC vibration analysis system

Terex®, a global provider of specialised equipment solutions, has launched TRAC, a new vibration analysis system designed to deliver deeper insight into the performance, condition and long-term structural integrity of screening equipment.Announced in Hosur on May 11, 2026, the TRAC system is now available across screening equipment offered under Terex Materials Processing (MP) brands, including Powerscreen®, Finlay®, EvoQuip®, MDS®, Terex® Washing Systems, Terex® MPS (Cedarapids®, Simplicity®), MAGNA™ and Terex® Ecotec.Developed specifically for vibratory screening equipment by Ter..

ADIO partners Motherson to set up large automotive components hub in KEZAD

The Abu Dhabi Investment Office (ADIO) has announced its support for Samvardhana Motherson International Limited’s (Motherson) new manufacturing hub in Abu Dhabi, marking a major step in strengthening the emirate’s position as a global centre for advanced manufacturing and automotive supply chains.ADIO said the partnership aligns with its strategy to accelerate high-value industrial investments and build resilient supply chains across priority sectors, further reinforcing Abu Dhabi’s competitiveness as a regional and global manufacturing and export hub.Under the partnership, a large-scal..