FCC

Heavy Industries Ministry inks contracts for battery manufacturing incentives

2022-08-01

Under the Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC) Battery Storage, the Ministry of Heavy Industries has signed contracts with three businesses.

Reliance New Energy, Ola Electric Mobility, and Rajesh Exports have been chosen. Initially, it was decided that Hyundai Global Motors would also receive PLI funding. However, this was put on hold after it was established that Hyundai Global Motors had no ties to Hyundai Motor or the Korean automaker's local subsidiary, Hyundai Motor India (HMIL).

The government has re-examined Hyundai Global Motors' request to establish a battery production facility under the PLI scheme. Hyundai Motor stated in a public notification released on July 15 that Hyundai Global Motors is not authorised to utilise the Hyundai trademark and logo of Hyundai Motor Company and HMIL in any way.