Reliance, JSW Among Bidders for ACC Battery PLI Scheme

27 Apr 2024 CW Team

Several major players including Reliance Industries, JSW, and five other companies have submitted bids for the production-linked incentive (PLI) scheme aimed at manufacturing advanced chemistry cell (ACC) batteries with a capacity of 10 gigawatt-hours (GWh). This scheme is part of the government's efforts to boost domestic manufacturing and reduce reliance on imports in the electric mobility sector.

The PLI scheme for ACC batteries aims to incentivize the establishment of domestic manufacturing facilities for advanced batteries, which are crucial components in electric vehicles (EVs) and renewable energy storage systems. By encouraging domestic production, the scheme seeks to strengthen India's position in the global EV market and promote sustainable transportation solutions.

Reliance Industries, one of India's largest conglomerates, and JSW, a leading steel producer, are among the prominent companies vying for the opportunity to participate in the ACC battery manufacturing segment. The involvement of these industry giants underscores the significance of the PLI scheme in driving investments and fostering collaboration in the renewable energy and electric mobility sectors.

The successful implementation of the PLI scheme for ACC batteries is expected to catalyseF the growth of India's EV ecosystem and create new opportunities for domestic manufacturers. It will also contribute to the country's efforts to reduce carbon emissions and transition towards cleaner and more sustainable energy sources.

As the government evaluates bids for the ACC battery PLI scheme, stakeholders remain optimistic about the potential for domestic manufacturing to play a pivotal role in India's transition towards a greener and more resilient economy.

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