EV NewsFeatured

Domestic Lithium-ion cell production under PLI is expected to start end of FY24

Ministry of Heavy Industries launched the Production Linked Incentive (PLI) scheme for Advance Chemistry Cell (ACC) Battery Storage in June 2021 for setting up of Giga-scale ACC manufacturing facilities in India with a budgetary outlay of INR 18,100 Crore.

This scheme aims to encourage domestic manufacturing of advanced chemistry cells for battery storage, in line with the vision of “Make in India” and “Aatmanirbhar Bharat”. The Ministry has shared the following updates regarding the Advanced Cell Manufacturing (ACC) PLI Scheme:

  • The Ministry of Heavy Industries awarded a capacity of 30GWh to three companies – Ola Cell Technologies Pvt. Ltd., ACC Energy Storage Pvt Ltd (Subsidiary of Rajesh Exports) and Reliance New Energy Battery Storage Ltd. and is in the process of awarding another 20GWh, with a target to achieve 50GWh production by 2030.
  • Engineers India Limited has been appointed as Independent Engineer for the scheme to monitor the progress of the work of the selected beneficiaries.
  • Ola Cell Technologies is setting up its manufacturing facility in Krishnagiri, Tamil Nadu.
  •  ACC Energy Storage is setting up its facility in Dharwad, Karnataka.
  • Reliance New Energy Battery Storage is setting up a facility in Jamnagar, Gujarat. Reliance New Energy Limited has also reported to have acquired three overseas companies that are in the ACC manufacturing business.
  • The total investment to date by these beneficiary organisations has reached up to INR 2090 Crore.
  • The prototype testing is almost complete by these beneficiaries, and commercial production is likely to start progressively in phases in FY 2024.
Subscribe & Stay Informed

Subscribe today for free and stay on top of latest developments in EV domain.

One thought on “Domestic Lithium-ion cell production under PLI is expected to start end of FY24

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!