Govt approves Rs 18,100 crore PLI scheme for promoting ACC battery manufacturing

New Delhi, May 12 (PTI): The government on Wednesday approved the Production Linked Incentive (PLI) scheme for promoting battery storage at an estimated outlay of Rs 18,100 crore.

With the objective to promote the 'Make in India' initiative, National Programme on Advanced Chemistry Cell (ACC) Battery Storage is expected to attract investment of Rs 45,000 crore, Information and Broadcasting Minister Prakash Javadekar told reporters after the Cabinet meeting.

The proposal aims to achieve a manufacturing capacity of 50 Gigawatt Hour of ACC and 5 GWh of niche ACC, he said.

It will promote green growth and use local products like copper and bauxite to a large extent, he added.