Production of advanced chemistry cell batteries in India likely to start by Jan 2024: Mahindra Nath Pandey – EQ
The government had approved the PLI (production linked incentives scheme) for the manufacturing of ACC (Advanced Chemistry Cell) batteries, at an estimated expenditure of Rs 18,100 crore.
The production of the first set of advanced chemistry batteries in India is slated to begin by January 2024, as per Union Minister Mahendra Nath Pandey.
The government had approved the PLI (production linked incentives scheme) for the manufacturing of ACC (Advanced Chemistry Cell) batteries, at an estimated expenditure of Rs 18,100 crore.
The Minister of Heavy Industries said at the 63rd SIAM annual convention, that in December this year or January next year, they would see the start of manufacturing of ACC batteries in the country.
Currently, the demand for ACCs is being met by imports. The minister said that the government had been coming up with various policies such as the PLI and FAME to bolster the industry, adding that the Rs 25,938 crore PLI scheme for the auto sector was well received by the industry.
He said that after talking to the industry, the government had extended the scheme by one year.
