Ola, Mahindra, Hyundai bid for incentives under Rs 18,000 crore PLI scheme for battery manufacturing
Zee News
The Indian government had last year finalised an incentive program to encourage companies to invest in the local manufacturing of batteries.
New Delhi: Softbank Group-backed Ola Electric, automaker Mahindra & Mahindra, and Reliance Industries have submitted bids under the country’s $2.4 billion battery scheme, the government said on Saturday.
The Indian government last year finalised an incentive program to encourage companies to invest in the local manufacturing of batteries as it looks to establish a domestic supply chain for clean transport and build storage for renewable energy.
Hyundai Global Motors, engineering conglomerate Larsen & Toubro, and battery makers Amara Raja and Exide have also submitted bids, the Ministry of Heavy Industries said.
