Union Cabinet has approved PLI scheme for ACC battery storage at a cost of Rs. 18,100 Cr
The Union Cabinet today approved the Production-Linked Incentive Scheme for the Advanced Chemistry Cell (ACC) Battery Storage with an outlay of Rs 18,100 crore.
Briefing media in New Delhi after the Cabinet meeting, Information and Broadcasting Minister Prakash Javadekar said, the move aims to achieve a manufacturing capacity of 50 Giga Watt Hour of ACC and five Giga Watt Hour of Niche ACC with an outlay of Rs 18,100 crore.
He said, the production-linked incentives will reduce import dependence of fuel and encourage domestic production of battery storage equipment.
Mr Javadekar said, it will also give a big push to electric mobility, benefiting three-wheeler, four-wheeler and heavy vehicles. He said, India is currently importing Battery Storage Equipment worth Rs 20,000 crore and the scheme will be helpful in making the country self-reliant (Atmanirbhar).