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RIL wins bid to make EV batteries under PLI scheme, plans 10-gw ACCs
- IBJ Bureau
- Sep 05, 2024
Reliance Industries has won a bid under the Production-Linked Incentive (PLI) scheme that supports electric vehicle (EV) battery production, a statement from the government has said.
Earlier this year, seven companies had submitted bids to set up local manufacturing units for production of advanced chemistry cells (ACCs) under the government’s PLI scheme.
Reliance can make up to 10 gw of ACCs, the statement has said.
The oil-to-telecom conglomerate has beaten six other competitors, which included units of battery-maker Amara Raja Energy and Mobility and power producer JSW Energy.
ACCs are used as EV cells, critical to the development of EVs in the world’s third-largest car market.
The scheme, with a maximum outlay of $434.4 million and aimed at boosting local production of batteries, comes at a time when the government has set ambitious targets of EV adoption.
EV models made up about 2 per cent of total car sales in India last year, and the government wants to increase that to 30 per cent by 2030.
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