Centre approves Rs 18,100 crore PLI scheme to promote ACC battery manufacturing

The National Programme on Advanced Chemistry Cell (ACC) Battery Storage is expected to attract investment of Rs 45,000 crore.

The government approved the Production Linked Incentive (PLI) scheme for promoting battery storage at an estimated outlay of Rs 18,100 crore, with the objective of promoting the 'Make in India' initiative. Additionally, the National Programme on Advanced Chemistry Cell (ACC) Battery Storage is expected to attract investment of Rs 45,000 crore. The proposal aims to achieve a manufacturing capacity of 50 Gigawatt Hours of ACC and 5 GWh of niche ACC. The Society of Manufacturers of Electric Vehicles (SMEV) said the PLI scheme for promoting battery storage will lead to the reduction of the cost of the purchase of electric vehicles (EV), thereby accelerating accessibility. Welcoming the government's approval of the PLI scheme for promoting battery storage at an estimated outlay of Rs 18,100 crore, SMEV also said it will attract huge investments in the EV industry in the next 1-2 years.