Niti Aayog seeks Cabinet approval for 10 li-

ion batteries gigafactories

The Niti Aayog seeks Cabinet approval for a proposal to establish up to 10 large lithium-ion factories. The lithium-ion batteries are used in electric vehicles. Once the Cabinet approves the proposal, the Niti Aayog will invite bids for setting up these gigafactories. The gigafactories will have a total capacity of 50 Gigawatt hours (GWh) over 10 years. Cabinet approval for 10 li-ion batteries for local manufacture. 

Cabinet approval for 10 li-ion batteries

This project will cost as much as $5 billion (Rs 35,500 crore) and it is the part of the government’s push to promote the use of electric vehicles. Due to the lack of lithium reserves in India, it imports the lithium-ion batteries from other countries. This becoming a high battery cost issue and more than half of the cost of an EV is due to costliest battery. If we start manufacture locally it will help in bringing down the cost of EVs making it more affordable to the consumers.

The finance ministry is already okay with this proposal of offering Rs 700 Crore a year in subsidies to battery makers which will start from 2022.

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