1 month, 3 weeks ago
Domestic production to meet 80 pc of India’s lithium-ion battery demand by 2027
Deccan ChronicleChennai: Lithium-ion battery demand is set to grow to 54 GWh by 2027 from the current consumption of 15 GWh. However, largescale capacities being added will help India’s import dependency to shrink to 20 per cent by FY27 despite growth in demand. Production Linked Incentive scheme for Advanced Chemistry Cell, along with various state government incentives such as capital subsidies, electricity tax and stamp duty exemptions and interest subvention will support faster addition of capacities. The beneficiary firm has to ensure achieving a domestic value addition of at least 25 per cent and raise it to 60 per cent within five years while also making the mandatory investment of Rs 225 crore per GWh for committed capacity within two years.
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