RIL, JSW, and five more offer to build up battery production units

On Tuesday, the government said that it has received proposals for production-linked incentives to establish 10 GWh capacity battery manufacturing facilities with an investment of Rs 3,620 crore from seven businesses, including Reliance Industries and JSW Neo Energy.

Waaree Energies Limited, Lucas TVS Limited, Anvi Power Industries Private Limited, Amara Raja Advanced Cell Technologies Private Limited, and ACME Cleantech Solutions Private Limited were among the other bidders on the list.

The Heavy Industries Ministry published a worldwide procurement on January 24 of this year, and bids for production facilities with a combined capacity of 70 GWh were submitted in response. “The industry responded to the scheme with great enthusiasm, with bids exceeding the 10 GWh manufacturing capacity that will be awarded seven times over,” the ministry said.

The government has said that it will be reopening the Production Linked Incentives (PLI) for the fabrication of 10 GWh advanced chemistry cells (ACCs). — PTI

Sales of electric vehicles will rise sharply this year, according to the IEA

London The International Energy Agency (IEA) predicted on Tuesday that sales of electric cars would climb sharply in 2024 despite economic obstacles in certain areas; however, further growth will depend largely on affordability and the availability of charging infrastructure.

Sales of electric vehicles are expected to reach 17 million this year, up from 14 million in 2023, meaning that almost one in five automobiles sold worldwide will be electric. Compared to the same time last year, sales increased by 25% in the first quarter of this year.

facilities’ total capacity is 70 GWh.

Bids for manufacturing facilities totaling 70 GWh were submitted in response to a worldwide tender released on January 24 by the Heavy Industries Ministry.
Industry responded to the plan with great enthusiasm; the amount of bids submitted is seven times the production capacity of 10 GWh that would be given, according to the government.