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Reliance New Energy Solar, Ola Electric Mobility, Hyundai Global Motors, and Rajesh Exports are among four firms that have been selected for the production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage.
According to a statement released by the Ministry of Heavy Industries on Thursday, the selected firms will receive incentives under India’s Rs 18,100- crore programme to boost local battery cell production.
The five firms that unsuccessfully bid for the scheme — Mahindra & Mahindra, Larsen & Toubro, Amara Raja Batteries, India Power Corp, and Exide Industries — are placed under a waiting list.
The selected companies will have to
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