NEW DELHI:Four companies \u2014Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy \u2014 were selected for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage, the heavy industries ministry said on Thursday. The allotment was made for atotal of 50GWh of battery capacity to the four successful bidders.
\nThe ministry said that the companies will receive incentives up to Rs 18,100 crore to boost local battery cell production. Hyundai Global Motors Company and Ola Electric Mobility bagged 20GWh each, while Reliance New Energy Solar and Rajesh Exports won 5GWh each. Heavy industries minister Mahendra Nath Pandey said that the increase in demand for electric vehicles (EVs) is behind the investment plans by companies.
\n\u201cToday, big companies are investing in electric vehicle manufacturing in India and are interested to join us. We should give them more encouragement and keep trying to make India a manufacturing hub,\u201d he said. The ministry said that 10 companies had submitted bids under the ACC battery storage programme for which request for proposal (RFP) was released by the ministry in October last year.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI:Four companies \u2014Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy \u2014 were selected for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage, the heavy industries ministry said on Thursday. The allotment was made for atotal of 50GWh of battery capacity to the four successful bidders. The ministry said that the companies will receive incentives up to Rs 18,100 crore to boost local battery cell production. Hyundai Global Motors Company and Ola Electric Mobility bagged 20GWh each, while Reliance New Energy Solar and Rajesh Exports won 5GWh each. […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,246,137],"tags":[],"class_list":["post-478596","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/478596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=478596"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/478596\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=478596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=478596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=478596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}