Indian conglomerate Reliance Industries, South Korea’s Hyundai Motor Co and automaker Mahindra & Mahindra are among the ten companies that have submitted bids underneath the country’s $2.4 billion production Linked Incentive (PLI) scheme for battery manufacturing in India, said the central government on Saturday.
“A total of 10 companies submitted their bids under the Advanced Chemistry Cell (ACC) Battery Storage Programme in India for which Request for Proposal (RFP) was released by Ministry of Heavy Industries (MHI) on 22nd October 2021,” said the Union ministry of heavy industries in a statement.
Reliance New Energy Solar Limited, Hyundai Global Motors Company Limited, Ola Electric Mobility Private Limited, Lucas-TVS Limited, Mahindra & Mahindra Limited, Amara Raja Batteries Limited, Exide Industries Limited, Rajesh Exports Limited, Larsen & Toubro Limited and India Power Corporation Limited are the companies that have applied for the scheme. The ten companies have submitted bids under the Rs 18,100-crore scheme for setting up about 130 GWh of capacity.
“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,” a statement from the ministry said. The scheme was available for acquiring applications till 11 am on 14 January and the technical bids were opened on 15 January.