Home / News / India /  Reliance, Ola, Mahindra among 10 bidders for govt's 18,000 crore PLI scheme for batteries

RIL subsidiary Reliance New Energy Solar, Hyundai Global Motors, Ola Electric, Mahindra & Mahindra and Larsen & Toubro are among the 10 firms that have submitted bids under 18,100 crore Production Linked Incentive (PLI) scheme for battery manufacturing in India, said the central government on Saturday. 

"A total of 10 companies submitted their bids under the Advanced Chemistry Cell (ACC) Battery Storage Programme in India for which Request for Proposal (RFP) was released by Ministry of Heavy Industries (MHI) on 22nd October 2021," said the Union ministry of heavy industries in a statement. 

The companies who have applied for the ACC PLI scheme are: Reliance New Energy Solar Limited, (a subsidiary of Reliance Industries Limited), Hyundai Global Motors Company Limited, Ola Electric Mobility Private Limited, Lucas-TVS Limited, Mahindra & Mahindra Limited, Amara Raja Batteries Limited, Exide Industries Limited, Rajesh Exports Limited, Larsen & Toubro Limited, and India Power Corporation Limited.

The scheme was open for receiving applications till 11 am on 14 January and the technical bids were opened on 15 January.

The selected firms would be required to set up the manufacturing facility within a period of two years. The incentive will be disbursed thereafter over a period of five years on the sale of batteries manufactured in India.

The government approved the PLI scheme 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage' for achieving manufacturing capacity of 50 Giga Watt Hour (GWh) for enhancing India's manufacturing capabilities with a budgetary outlay of 18,100 crore.

"The scheme received an encouraging response from local as well as global investors as bids received is 2.6 times the manufacturing capacity to be awarded i.e. 50 Gwh," the heavy industries ministry stated.

The ACC PLI scheme is expected to result in savings to the nation on account of reduction in import of crude oil to a significant extent and increase the share of renewable energy at the national grid level, the statement said.

The scheme for ACC along with PLI scheme for the automotive sector and FAME will enable India to leapfrog to environmentally cleaner, sustainable, advanced and more efficient electric vehicles (EV) based system.


Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Recommended For You
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout