According to the Ministry of Heavy Industries, the 10 companies embody Reliance New Energy Solar, Hyundai Global Motors Company, Ola Electric Mobility, Lucas-TVS and Mahindra & Mahindra, amongst others.
The Request for Proposal (RFP) was launched by the ministry in October 2021. It opened the technical bids on Saturday.
“The manufacturing facility would have to be set up within a period of two years. The incentive will be disbursed thereafter over a period of five years on sale of batteries manufactured in India,” the ministry stated.
Last yr, the Centre had accepted the PLI scheme for ‘National Programme on Advanced Chemistry Cell (ACC) Battery Storage’ for attaining manufacturing capability of fifty Giga Watt Hour (GWh) of ACC’ for enhancing India’s manufacturing capabilities with a budgetary outlay of Rs 18,100 crore.
“Under the said initiative the emphasis of the government is to achieve greater domestic value addition, while at the same time ensure that the levelized cost of battery manufacturing in India is globally competitive,” the ministry stated.
“The programme is designed in such a manner that it is technology agnostic. The beneficiary firm shall be free to choose suitable advanced technology and the corresponding plant and machinery, raw material and other intermediate goods for setting up cell manufacturing facility to cater to any application,” it added.
As per the assertion, the programme envisages an funding which can increase home manufacturing alongside facilitating battery storage demand creation for each electrical autos and stationary storage together with growth of a whole home provide chain.
“The ACC PLI scheme is expected to result in saving to the nation on account of reduction in import of crude-oil to a significant extent and increase the share of renewable energy at the national grid level,” the ministry stated.
In addition, the ministry stated that the ACC scheme together with the already launched PLI scheme for automotive sector and Faster Adaption of Manufacturing of Electric Vehicles (FAME) will allow India to leapfrog from conventional fossil gasoline-primarily based vehicle transportation system to environmentally cleaner, sustainable, superior and extra environment friendly electrical automobile-primarily based system.