Govt approves Rs 18,100 cr PLI scheme for promoting ACC battery manufacturing
The Government on Wednesday approved the Production Linked Incentive (PLI) scheme for manufacturing advanced chemistry cell (ACC) battery at an estimated outlay of Rs 18,100 crore.
With the objective to promote the Make in India initiative, the National Programme on Advanced Chemistry Cell (ACC) Battery Storage is expected to attract foreign and domestic investment of Rs 45,000 crore, Information and Broadcasting Minister Prakash Javadekar told reporters after the Cabinet meeting.
The proposal aims to achieve manufacturing of 50 gigawatts of battery storage, he said, adding, these incentives will be available to those companies having higher production and sales capability.
