In accordance with the government’s production-linked incentive programme, Ola Electric claimed to have struck a deal with the ministry of heavy industries for the local manufacture of advanced battery cells.
The government had declared in March of this year that the Production Linked Incentive (PLI) plan for Advanced Chemistry Cell (ACC) battery storage is open to Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility, and Reliance New Energy.
The four winning bids received an allocation for a total of 50 GWh of battery capacity. Under India’s Rs 18,100 crore incentive package, these businesses will be given incentives to increase domestic battery cell production.
By 2023, Ola Electric plans to start mass producing lithium-ion batteries, according to a statement.
