Govt begins re-auction for 10 GWh of battery PLI – ET Auto

baua

[ad_1]

<p>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.</p>
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.

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.

  • Published On Jan 24, 2024 at 04:50 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETAuto App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App


[ad_2]

[ad_1] Electronic component provider Sumida is introducing two new series of AEC-Q200-qualified power inductors at…

[ad_1] Which CEO of a global automaker suggested that EVs may never top 30% of…

[ad_1] Have you ever been in the mood to drive an electric bus, and then…