Govt approves ₹18,100 crore PLI scheme for promoting ACC battery manufacturing.

Govt approves ₹18,100 crore PLI scheme for promoting ACC battery manufacturing.

Early in the day today, Union minister Prakash javadekar made an announcement after a cabinet meeting about the approval of rupees 18100 crore PLI scheme for promoting ACC battery manufacturing which is likely to attract 45000 crore investment. He quoted, “ ₹18,100 crore PLI scheme approved for promoting ACC battery manufacturing. This will help production of 50 Gigawatt Hour of ACC battery storage. We expect an investment of ₹45,000 crore, both foreign & domestic. The move will eventually reflect our climate-friendly green growth path.” He considered this decision to be a very significant and historical move for storage of battery which is likely to cover certain sectors of production incentive links which will produce a huge amount of battery storage along with fuel replacement which will be used in electric vehicles, solar rooftop, solar plants, grid stabilization railway, shipping, diesel generators, etc. and hence it will practically apply positively in various aspects of life.

Source- Hindustan times



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