India Launches Re-Bidding For Mega Battery Manufacturing Facilities Under PLI Scheme

ENA Sectors 2024-01-25 16:38:14 New Delhi, Jan 25 (KNN) In a significant move towards bolstering the country's electric mobility infrastructure, the Indian government has announced a re-bidding process under the Production Linked Incentive (PLI) scheme for Advanced Chemistry Cells (ACC). The initiative aims to attract potential investors for the establishment of mega battery manufacturing facilities, each with a substantial 10 GWh capacity and a total budgetary outlay of Rs 3,620 crore. The PLI scheme, officially known as the 'National Programme on Advanced Chemistry Cell Battery Storage,' focuses on promoting the production of technology-agnostic ACC within India. The initiative is part of the government's broader efforts to strengthen the capital goods, automobile, and heavy electrical equipment sectors. Prospective applicants can now participate in the bidding process, which commenced on Wednesday, and submit their proposals for setting up domestic manufacturing facilities for ACC. Successful bids will make these companies eligible for incentives under the PLI ACC scheme, further supporting the growth of India's manufacturing capabilities. Union Minister of Heavy Industries, Mahendra Nath Pandey, emphasised the ministry's commitment to fostering the growth of India's manufacturing and exports in the automobile and automobile component sector. He reiterated the government's dedication to realising Prime Minister Narendra Modi's vision of a self-reliant and developed India. The PLI ACC scheme was initially approved by the Cabinet in May 2021 with the ambitious goal of achieving a manufacturing capacity of 50 Giga Watt hours (GWh) of ACC, backed by an outlay of Rs 18,100 crore. The first round of bidding concluded in March 2022, resulting in the allocation of a total capacity of 30 GWh to three companies. Program agreements with the selected companies were subsequently signed in July 2022. The current re-bidding process aims to further expand the production capacity and drive advancements in the electric vehicle ecosystem. Interested bidders have until April 22, 2024, to submit their proposals, with bid openings scheduled for April 23, 2024. (KNN Bureau) 36429 https://knnindia.co.in/news/newsdetails/sectors/india-launches-re-bidding-for-mega-battery-manufacturing-facilities-under-pli-scheme 2024-01-25 16:38:14 knnindia.co.in India Launches Re-Bidding For Mega Battery Manufacturing Facilities Under PLI Scheme