Cabinet approves Rs 18,000-cr PLI scheme for battery manufacturing

The Centre hopes to create direct investment of Rs 45,000 cr in ACC Battery storage projects

The Union Cabinet on Wednesday approved an Rs 18,100-crore plan to incentivise battery makers to manufacture locally as it looks to cut import dependence while giving a boost to electric vehicle (EV) adoption.
 
This was a Department of Heavy Industries’ proposal, which the government expects will create direct investment of Rs 45,000 crore.
 
Under the production-linked incentive (PLI) scheme floated by the central government, the Cabinet in November 2020 had approved Rs 18,000 crore for domestic manufacturing of Advanced Chemistry Cell (ACC) battery storage.
 
Currently, the country’s ACC demand is being met through imports.
 
The nodal