The Center on Thursday said commercial production under the Production-Linked Incentive Scheme for Advanced Chemistry Cell Manufacturing – India’s Rs 18,100-crore program to boost local battery cell production – will start gradually in phases in the current financial year. is likely to happen.

The Ministry of Heavy Industry has awarded 30GWh capacity to three beneficiaries, namely Ola Cell Technologies Pvt Ltd. Ltd., ACC Energy Storage Pvt. Ltd. and Reliance New Energy Battery Storage Ltd. and is in the process of delivering another 20GWh with a target of achieving 50GWh production by 2030.

“To monitor the progress of the work of the selected beneficiaries, the Ministry has appointed Engineers India Limited (EIL) as independent engineers. Prototype testing by these beneficiaries is almost complete and will gradually move into commercial production phases in FY2024. Likely to start soon.” said in an official statement.

The scheme aims to strengthen the ecosystem for electric mobility and battery storage in the country and aims to add to the Atmanirbhar Bharat initiative.

“In line with the vision of the scheme to ensure domestic value addition, the technology for advanced chemical cells being developed by all the 3 beneficiaries is in advanced stages of development. The total investment so far by these beneficiary organizations has reached Rs. 2,090 crore,” the statement said.

Ola Cell Technologies is setting up its manufacturing facility in Krishnagiri, Tamil Nadu, while ACC Energy Storage is setting up its facility in Dharwad, Karnataka and Reliance New Energy Battery Storage is setting up its facility in Jamnagar, Gujarat, helping local residents Employment opportunities are being created. ,

Reliance New Energy Limited has also informed about acquisition of three foreign companies which are in ACC manufacturing business, the statement said.

(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content was auto-generated from a syndicated feed.)

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