Minister of Heavy Industries has recently announced that the automotive segment is likely to see the start of manufacturing of ACC batteries in the country by this December or January next year.
The production of the first set of advanced chemistry batteries in India is slated to begin by January 2024, Union Minister Mahendra Nath Pandey said at the 63rd SIAM annual convention.
The government had approved the PLI (production linked incentives scheme) for the manufacturing of ACC (Advanced Chemistry Cell) batteries, at an estimated expenditure of Rs 18,100 crore.
Currently, the demand for ACCs is being met by imports. The minister said that the government had been coming up with various policies such as the PLI and FAME to bolster the industry, adding that the Rs 25,938 crore PLI scheme for the auto sector was well received by the industry.
He said that after talking to the industry, the government had extended the scheme by one year.