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Reliance Industries Ltd has secured a significant victory in India's burgeoning electric vehicle (EV) sector, winning a bid to establish a 10 gigawatt-hour (GWh) battery manufacturing facility under the government's Production-Linked Incentive (PLI) scheme for advanced chemistry cells. This achievement comes with a substantial ₹3,620 crore in benefits from the Indian government, further solidifying Reliance's position as a key player in the country's transition towards a sustainable and electrified future.
The Ministry of Heavy Industries announced Reliance as the winning bidder from a pool of seven companies that had participated in the tender launched in January. The announcement highlights the company's competitive edge in the battery manufacturing space, as six companies were shortlisted for financial evaluation of their bids. Reliance's success in securing this capacity adds to its existing 5 GWh battery capacity, awarded in 2022 under the same PLI scheme. This earlier allocation, along with the newly secured 10 GWh, brings Reliance's total battery manufacturing capacity under the PLI scheme to a substantial 15 GWh.
The PLI scheme, a crucial component of the Indian government's strategy to promote domestic manufacturing, incentivizes companies to set up production facilities within the country. The scheme's goal is to strengthen India's electric mobility ecosystem and create a robust battery storage industry. Reliance's latest win underscores the company's commitment to this strategic initiative and its ability to leverage its resources and expertise to contribute to India's clean energy ambitions.
Source: Reliance wins bid for 10 GWh of battery manufacturing capacity under PLI scheme