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JSW Neo Energy, Reliance Industries, Lucas TVS, ACME Cleantech, Amara Raja, Anvi Power, and Waaree Energies have participated in a production linked incentive (PLI) auction for new-age battery manufacturing capacity in India. The companies bid for a cumulative capacity of 70 Giga Watt hours (GWh), with sops available only for 10 GWh. Technical bids for Rs 3,620 crore of PLI were opened.
The participation of the South Korean company is notable because a similarly named Hyundai Global Motors had got sops for setting up a 20 gigawatt hour (GWh) capacity in the earlier PLI auction round for ACC batteries, held in January 2022. It was eventually concluded that this was a case of impersonation and that Hyundai Global Motors had used fake documentation while bidding.
Battery PLI: The participation of the South Korean company is notable because a similarly named Hyundai Global Motors had got sops for setting up a 20 gigawatt hour (GWh) capacity in the earlier PLI auction round for ACC batteries, held in January 2022. It was eventually concluded that this was a case of impersonation and that Hyundai Global Motors had used fake documentation while bidding.
Battery Pli: “The pre-bid meeting was conducted in preparation for the upcoming global tender seeking bids for the establishment of giga-scale Advanced Chemistry Cell (ACC) manufacturing facilities, cumulatively amounting to 10 GWh capacity,” an official statement said.
The Indian government plans to introduce a production-linked incentive (PLI) scheme for batteries to reduce costs and encourage the adoption of electric vehicles (EVs). The Union Power and New & Renewable Energy Minister, R K Singh, stated that the scheme aims to increase battery volumes and lower prices. He also highlighted the limited battery manufacturing capacity worldwide as a factor contributing to high prices.