New Delhi, Apr 24 (KNN) The Ministry of Heavy Industries (MHI) on Tuesday said it has received seven bids under the global tender for the re-bidding of production linked incentives (PLI) scheme for setting up 10 GWh of Advanced Chemistry Cell (ACC) battery manufacturing capacity announced in January this year.

The bidders are ACME Cleantech Solutions, Amara Raja Advanced Cell Technologies, Anvi Power Industries, JSW Neo Energy, Reliance Industries, Lucas TVS, and Waaree Energies.

Their combined proposed manufacturing capacity is 70 GWh, seven times the 10 GWh capacity on offer.

The MHI said the overwhelming response from industry highlights the scheme's success.

ACC or advanced lithium-ion batteries are a crucial component for electric vehicles and energy storage.

The government had in May 2021 approved the Rs 18,100 crore PLI scheme to achieve 50 GWh of ACC manufacturing capacity.

In the first round last year, 30 GWh capacity was allocated to three companies.

This is the re-bidding round for the remaining 10 GWh capacity, with a maximum outlay of Rs 3,620 crore. Technical bids were opened on April 23 after the tender closed on April 22.

The scheme promotes building an ACC battery manufacturing base in India across multiple cutting-edge technologies.

(KNN Bureau)