Union Cabinet approves PLI Scheme for ACC Battery Storage with outlay of Rs 18,100 crore

The Union Cabinet has 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 in a tweet said, "The #Cabinet chaired by PM @narendramodi took a significant decision which will give a big push to electric mobility, benefiting 3-wheeler, 4-wheeler and heavy vehicles. Rs 18,100 crore under the PLI incentive scheme for increasing the battery storage capacity has been approved."

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).