Reliance, Ola Electric, others to get incentives under India's $2.4 bln battery scheme
Global Economy
17 March, 2022, 02:35 pm
Last modified: 17 March, 2022, 02:41 pm
The Indian government last year finalised a programme to incentivise companies to make battery cells locally as it looks to establish a domestic supply chain for clean transport and renewable energy storage to meet its decarbonisation goals
A bird flies past a Reliance Industries logo installed on its mart in Ahmedabad, India January 16, 2017/Reuters
Reliance Industries and Softbank Group-backed Ola Electric have won bids to receive incentives under India's $2.4 billion battery programme, four sources told Reuters.
The Indian government last year finalised a programme to incentivise companies to make battery cells locally as it looks to establish a domestic supply chain for clean transport and renewable energy storage to meet its decarbonisation goals.
Ten companies submitted bids totalling about 130 gigawatt hours (Gwh), of which four have won, the sources said.
Reliance and Ola did not immediately respond to requests for comment.
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