Exide Industries to set up lithium-ion cell manufacturing facilityExide Industries will be setting up a greenfield multi-GW lithium-ion cell manufacturing facility in India.
The Board of Directors of the company gave an in-principle nod to the plan. As a result, lithium-ion battery-based storage solutions will gain prominence, for both automotive and industrial applications.
It also plans to apply for and participate in the Production Linked Incentive (PLI) Scheme for the National Programme on Advanced Chemistry Cell (ACC) battery storage, issued by the Ministry of Heavy Industries.
The total outlay of the scheme announced by the Centre in August 2021 is Rs 18,100 crore for five years.
The scheme proposes a production linked subsidy based on applicable subsidy per kWh and percentage of value addition achieved on actual sales made by the manufacturers who set up production units.
The PLI Scheme will facilitate reduction of import dependence of ACC battery, which is imported presently.

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