Modi Govt PLI Scheme: 10 big companies, from Reliance to Mahindra are in the race to take advantage of this scheme of Modi government!

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New Delhi
Modi Govt PLI Scheme: Reliance New Energy Solar, a subsidiary of Reliance Industries, Hyundai Global Motors, Ola Electric, Mahindra & Mahindra and Larsen & Toubro are among the ten companies that have pledged Rs 18,100 crore for the Advanced Chemical Cell (ACC) battery storage program. Tenders have been submitted under Construction Related Incentive (PIL) Scheme of Rs. A total of ten tenders have been received for this scheme with a capacity of 130 GW per hour. This is twice the manufacturing capacity to be allocated.

These companies are also in the race
Amara Raja Batteries, Exide Industries, Rajesh Exports, India Power Corporation and Lucas-TVS have also tendered. “Industries have reposed their faith in India’s impressive progress as a world-class manufacturing hub, in line with the Prime Minister’s call for a self-reliant India,” an official statement said.

Manufacturing unit will have to be set up in 2 years
The government had approved the PLI scheme ‘National Advanced Chemical Cell (ACC) Battery Storage Program’ to achieve a manufacturing capacity of 50 GWh. Under this scheme, the manufacturing center will have to be established within two years. After this, the incentive amount will be distributed within five years.

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