The Heavy Industries Ministry has started reauction for 10 Gigawatt hour (GWh) of Production Linked Incentives (PLI) for Advanced Chemistry Cell (ACC) manufacturing. These incentives will support manufacturing of Electric Vehicle (EV) batteries. A budgetary outlay of INR 3,620 crore has been earmarked as incentives against setting up this battery manufacturing capacity.
A separate round of bids will be called for another 10 GWh of incentives targeted for stationery battery applications like renewable energy storage and power management.
An official statement said the prospective applicants can submit bids to set-up domestic manufacturing facility for ACC, which will help them qualify for incentives under scheme. Bidding process will be held online through a two-stage process, under the Quality and Cost Based Selection (QCBS) mechanism.
In 2022, the centre awarded PLI support for setting up 30 GWh of ACC battery manufacturing capacity by 2030. Ola Cell Technologies won the lion’s share with 20 GWh capacity in their kitty. ACC Energy Storage (bid as Rajesh Exports) and Reliance New Energy Battery Storage were awarded incentives for 5 GWh each. The Centre expects PLI incentives will aid in creation of 95 GWh of battery manufacturing capacity by these three players.
The 20 GWh PLI capacity being rebid was initially allocated to Hyundai Global Motors, a company said to be impersonating South Korean firm Hyundai Motor Co.
