Industry Giants Compete for India's ACC Battery Manufacturing Scheme
April 28, 2024, 9:40 am
Location: India, Maharashtra, Navi Mumbai
Employees: 10001+
Founded date: 1966
Total raised: $22.14M
Location: India, Maharashtra, Mumbai
Employees: 10001+
Founded date: 1982
Total raised: $900.6M
Seven prominent companies, including Reliance Industries Limited (RIL), ACME Solar Holdings, and JSW Energy, are vying for India's 10 GWh ACC manufacturing scheme, signaling a shift towards domestic production of high-tech lithium-ion batteries crucial for electric vehicles and renewable energy storage. The competitive bidding process highlights the strategic importance of ACCs in India's clean energy transition and the potential for significant investment from industry leaders.
Reliance Industries, known for its diverse portfolio, ACME Solar Holdings, a key player in the renewable energy sector, and JSW Energy, focusing on sustainable solutions, are among the bidders looking to capitalize on the growing demand for ACCs driven by the rise of EVs and renewable energy expansion. The ACC PLI scheme aims to reduce dependency on imports, particularly from China, and boost self-reliance in critical technology sectors while stimulating job creation and economic growth.
As India accelerates its shift towards clean energy and electric mobility, initiatives like the ACC PLI scheme play a vital role in fostering innovation, investment, and industrial growth, aligning with the nation's sustainable development goals. The successful bidders stand to benefit from government incentives and support, positioning themselves for long-term success in the burgeoning ACC market, contributing to a greener and more resilient economy.
Reliance Industries, known for its diverse portfolio, ACME Solar Holdings, a key player in the renewable energy sector, and JSW Energy, focusing on sustainable solutions, are among the bidders looking to capitalize on the growing demand for ACCs driven by the rise of EVs and renewable energy expansion. The ACC PLI scheme aims to reduce dependency on imports, particularly from China, and boost self-reliance in critical technology sectors while stimulating job creation and economic growth.
As India accelerates its shift towards clean energy and electric mobility, initiatives like the ACC PLI scheme play a vital role in fostering innovation, investment, and industrial growth, aligning with the nation's sustainable development goals. The successful bidders stand to benefit from government incentives and support, positioning themselves for long-term success in the burgeoning ACC market, contributing to a greener and more resilient economy.