Four firms selected for PLI scheme for ACC battery storage

Reliance New Energy Solar Limited, Ola Electric Mobility, Hyundai Global Motors, and Rajesh Exports Limitedare among the four firms that have been selected for the production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage.

The selected firms will receive incentives under India’s Rs 181 billion programme to boost local battery cell production. The selected companies will have to set up the manufacturing facility 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 five firms that unsuccessfully bid for the scheme include Mahindra & Mahindra, Larsen & Toubro, Amara Raja Batteries, India Power Corporation Limited, and Exide Industries. These firms have been placed under waiting list.

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