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The ministry had earlier in March 2022 announced its four successful bidders – Rajesh Exports, Hyundai Global Motors Company, Olay Electric Mobility and Reliance New Energy to be eligible for benefits under the PLI scheme for Advanced Chemistry Cell (ACC) battery storage. . The total allocation was made for 50GWh battery capacity. Incentives will be given under the PLI scheme of Rs 18,100 crore to promote successful bidders EV Battery cell production.
Bhavish Aggarwal, CEO and Founder of Ola
Ola Electric Mobility According to an official statement, it is planned to start mass production of lithium-ion cells by 2023. The company had also announced an investment of USD 500 million (about Rs 4,000 crore) with the aim of setting up a SAIL research and development plant in Bengaluru. Ola CEO, Bhavish Aggarwal further said, ” ACC PLI This scheme will play a vital role in making India self-reliant and localize the most important aspect of the electric vehicle value chain.”