June 22, 2024

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Tesla & 2 China Co.interested in India’s 50k Cr EV battery building plants plan   

EV battery building plants

The Tesla and China’s Contemporary Amperex Technology Co. Ltd (CATL) have shown the initial interest in the government’s global plan along with some of the other companies including China’s BYD Co.Ltd which have shown interest in the mega project. The EV battery building plants plan in India. 

Tesla & 2 China Co.interested in India’s 50k Cr EV battery building plants plan

Recently the Indian government announced its plan to build large factories to make lithium-ion batteries at an investment of about ₹50,000 crore.

As India is in much need of production of EV batteries and localization of the EV components which will make EVs affordable to the people which will lead to the adoption of EVs India more faster.

EV battery building plants

This global interest is because of the government’s push to make India a global manufacturing hub for electric vehicles and its components. This will reduce the imports from the other countries and the major reason is controlling the pollution levels.

The government official said that “This is a multibillion-dollar opportunity. The EFC (expenditure finance committee) meeting has been done. It will now come up in the cabinet.”

Each gigawatt-hour of battery capacity can power 1 million homes

As India is aiming to secure energy, the establishment of this 50-gigawatt hour (GWh) factories plan has been cleared by the EFC and a final tender is expected by February. Each gigawatt-hour (1,000-megawatt-hours) of battery capacity can power 1 million homes for an hour and around 30,000 electric cars.

“We are expecting all cabinet clearances by September. Post that, the international tender will be floated. The EFC clearance has come. The evaluation won’t take much time. The minimum ceiling for bidding is 5GWh, with the maximum allowed quantum of 20GWh,” said one of the government official. 

According to a NITI Aayog

According to a NITI Aayog, India needs 6 such gigawatt-scale facilities (of 10GWh each) by 2025 and 12 by 2030 excluding the export potential market.

“Large batteries should be brought to the clean energy play to help use infirm power such as wind and solar. We first need it on a large scale to cater to internal demand. All the top global manufacturers, including Tesla, have evinced interest. We will get more clarity once the tender documents are bought.”

During the Budget presentation, in July, the finance minister Nirmala Sitharaman announced tax breaks for setting up mega manufacturing plants for solar photovoltaic cells, lithium-ion storage batteries and solar electric charging infrastructure.

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Mastered in Journalism and I am a dedicated writer for ElectricVehicles.in since 2018. I am an EV enthusiast. I love to write about electric vehicles, technology, startups, people, fashion, and trends. Through my writings, I love to contribute to my team's efforts to reduce the pollution levels in the world, especially from India.

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