Boost supply chain of electric vehicle
Ten companies, including Reliance, Hyundai and Ola have applied for the Rs 18,100-crore PLI scheme for advanced chemistry cell (ACC). The companies collectively bid for setting up 130 GWh of cell manufacturing capacity. The scheme is expected to boost the local supply chain of electric vehicles (EV) in India.
Reduce crude oil exports
New Delhi expects the ACC PLI scheme to help reduce crude-oil imports by promoting EVs. It will also increase the share of renewable energy at the national grid level .The ACC PLI scheme comes with a minimum localisation of 25% within two years before increasing it to 60% in five years.