Reliance Industries wins bid under PLI scheme to manufacture EV batteries in India

Reliance wins bid to make EV batteries: Reliance Industries has won a bid under the Indian government's production linked incentives (PLI) program which supports EV battery production, a statement from the Indian government said on Wednesday. With this Reliance Industries can make up to 10 gigawatts of Advanced Chemistry Cell or ACCs in the country, a statement by the Ministry of Heavy Industries says. 

It is worth noting that the Ministry of Heavy Industries (MHI) had received bids from seven bidders under global tender for there-bidding of Production Linked Incentives (PLI) for 10 GWh Advanced Chemistry Cell (ACC) manufacturing with maximum budgetary outlay of Rs 3,620 crores on January 24 2024. Seven companies submitted bids to set up local manufacturing units for the production of advanced chemistry cells under the government's production-linked incentive scheme. The list of the companies that had submitted their bids to the Indian government include ACME Cleantech Solutions Private Limited, Amara Raja Advanced Cell Technologies Private Limited, Anvi Power Industries Private Limited, JSW Neo Energy Limited, Lucas TVS Limited, Reliance Industries Limited, and Waaree Energies Limited. 

“Final evaluation of the Shortlisted Bidders was carried out as per Quality & Cost Based Selection (QCBS) mechanism and the bidders were ranked based on their combined technical and financial scores. The Ministry has awarded the 10 GWh PLI ACC capacity to the shortlisted bidder with highest the overall score, ie, Reliance Industries Limited,” the ministry said.

ACCs are used as EV cells, critical to the development of electric vehicles in the world's third largest car market. The scheme, with a maximum outlay of $434.4 million and aimed to boost local production of batteries, comes at a time when the government has set ambitious targets of EV adoption.

Electric models made up about two percent of total car sales in India last year, and the government wants to increase that to 30 percent by 2030.