Bhavish Aggarwal (CEO- Ola Electric) tweeted after India’s Ministry of Heavy Industries selected the company for the PLI scheme, stating that “Today, 90% of global capacity is in China. We will reverse that and make India a global hub for EVs and cell tech”.

The Government of India approved the PLI scheme “National Program on Advanced Chemical Cell Battery Storage” to achieve 50 Giga Watt Hours (GWh) of manufacturing capacity to augment India’s manufacturing capabilities with a budget outlay of Rs. 18,100 crores. 

And A total of 4 companies are selected for the incentive under Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC) Battery Storage.

Sl.No.Name of ApplicantCapacity Quoted(GWh)StatusCapacity Awarded(GWh)
1Rajesh Exports Limited5 GWhAwarded5 GWh
2Hyundai Global Motors Company Limited20 GWhAwarded20 GWh
3Ola Electric Mobility Private Limited20 GWhAwarded20 GWh
4Reliance New Energy Solar Limited20 GWhAwarded5 GWh
Waitlisted15 GWh

 

Bhavish Aggarwal (CEO-Ola Electric) quotes on this“India has the strongest Govt support for electrification in the whole world! Excited to be selected for the PLI scheme for manufacturing world-class cells in India. Today, 90% of global capacity is in China. We will reverse that and make India a global hub for EVs and cell tech”

| get details here – PLI Scheme for ACC Battery Storage under MHI India, 4 companies Selected for incentives to the tune of Rs.18,100 crore

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