India is planning to invite bids for an 80 billion rupees ($960 million) incentive program for production of electric vehicle batteries, according to people familiar with the matter.
The program will require winning bidders to set up advanced chemistry battery plants with a total output of 20 gigawatt hour, said the people, declining to be named as the plans are private. The government will seek bids from potential investors next month, they said.
Companies including Korea’s LG Energy Solution Ltd., and local heavyweights such as Mahindra & Mahindra Ltd., Amara Raja Energy & Mobility Ltd., Exide Industries Ltd.
