The Indian government has received bids from seven companies, including Reliance Industries and JSW Neo Energy, for production-linked incentives to set up battery manufacturing facilities of 10 GWh capacity, with an outlay of Rs 3,620 crore. Other bidders include ACME Cleantech Solutions Private Limited, Amara Raja Advanced Cell Technologies Private Limited, Anvi Power Industries Private Limited, Lucas TVS Limited, and Waaree Energies Limited. The bids were submitted in response to a global tender issued by the Heavy Industries Ministry on January 24th, 2023, seeking bids for manufacturing facilities with a cumulative capacity of 70 GWh. The ministry expressed that the scheme received an overwhelming response from the industry, with bids received seven times the targeted manufacturing capacity of 10 GWh. The ministry had announced the re-bidding of Production Linked Incentives (PLI) for 10 GWh advanced chemistry cell (ACC) manufacturing.
In related news, the International Energy Agency (IEA) has forecasted strong growth in electric car sales in 2024, despite economic headwinds in certain markets. The IEA predicts that electric car sales will reach 17 million this year, compared to 14 million in 2023, with more than one in five cars sold globally projected to be electric. Sales in the first quarter of 2023 were 25% higher than the same period last year, indicating the growing adoption of electric vehicles.
