India is about to start a 50GW lithium-ion battery manufacturing plan

by:CTECHi     2021-08-12

India is about to start bidding for the lithium-ion battery project to plan to build 50 GW of lithium-ion battery production capacity in India, which is a further increase from the 40 GW previously proposed. According to a senior official of the Indian government think tank NITIAayog in an interview with local media, the government will consider introducing subsidies, tax cuts and other financial incentives within a week, including tax reductions and exemptions for successful bidders for up to 8 years, the lowest alternative Measures such as tax halving. In order to ensure the timely establishment of the desired lithium-ion battery manufacturing base, it is expected that the government bidding and project completion timetable will be very strict. According to the official report, “NITIAayog must complete the bid within six months after the Cabinet’s approval, and the winning bidder must establish production facilities by 2022, after which they will receive incentives for 8 years, that is, until 2030.” The government has already sent to the states. Seek advice on cooperation between land supply and battery manufacturers. Overall, the government may identify 5-20 locations, and companies interested in bidding will be invited to establish battery plants in the shortlisted locations. The Indian Energy Storage Alliance predicts that by 2025, the Indian energy storage market will increase to more than 300 GWh. India currently relies on imports for almost all lithium-ion batteries. Therefore, India hopes to reduce its dependence on imports by building lithium-ion battery manufacturing bases. In addition, the Indian government aims to ensure that electric vehicles account for 30% of car ownership by 2030.

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