India likely to provide Chinese companies PLI for ACC batteries for viable costs

New Delhi, Aug 1 (KNN) The government is considering to include Chinese companies while extending the production linked incentive (PLI) scheme to the Advance Chemistry Cell (ACC) batteries for EVs, reported businessline.

Last week the Ministry of Heavy Industries (MHI) held a closed door meeting as the stakeholders discussed the issues concerning the China factor.

During the meeting it was noted that Chinese goods are sold four times cheaper than that of two other major players, Germany and South Korea.

"It is coming back to square one, just like what happened with FAME-I," an official source aware of the matter told businessline.

A Bengaluru-based battery and EV maker said, "We can't bring German machines because they are four times higher in costs and Korean equipment are two times higher."

Hence we have to import Chinese equipment to make it cost-effective, said the EV maker.

The meeting was chaired by Kamran Rizvi, Secretary MHI and Sudhendu J Sinha, Advisor, Infrastructure Connectivity-Transport and Electric Mobility.  (KNN Bureau)