G20 Sherpa Amitabh Kant Pushes for Speedy Implementation of PLI Scheme for Battery Production

ENA Sectors 2024-12-13 16:18:42 New Delhi, Dec 13 (KNN) At the Green Bharat Summit on December 13, G20 Sherpa Amitabh Kant called for urgent steps to scale up battery manufacturing in India, expressing concern over the lack of progress in the implementation of the Production Linked Incentive (PLI) scheme introduced in 2021. Kant, who previously served as the CEO of Niti Aayog, emphasised that India must accelerate its efforts to become a leader in the electric vehicle (EV) revolution. The PLI scheme, which was designed to encourage battery manufacturing in India, aimed for the establishment of 50 GW of battery production capacity. However, Kant pointed out that despite the ambitious target, not a single gigawatt has been developed so far. Where is the PLI for batteries? We announced 50 GW in 2021, yet not a single GW has come up, he remarked, comparing the progress of the auto sector to the electronics industry, which has successfully met its targets. Battery production remains a critical issue for the EV sector. As the most expensive component in electric vehicles, the high cost of batteries pushes up vehicle prices, leading many Indian manufacturers to rely on imports. While a few are beginning to shift towards domestic production, the pace remains slow. Kant called for a target of 300 GWh of battery manufacturing over the next 2.5 to 4 years, stating that this is crucial for India to become a global leader in EVs. He also underscored the need for infrastructure development, including the installation of one million fast chargers across the country to support the growing EV market. Additionally, Kant advocated for enhanced digital tools, suggesting that EV owners should be able to monitor the performance of both vehicles and batteries through an app. While acknowledging the entry of companies like Ola Electric into battery manufacturing, he stressed that announcements alone are insufficient. We need to get into manufacturing and get this going, he urged. Kants remarks highlight the urgency with which India must address its battery production and infrastructure challenges if it hopes to lead the global electric vehicle shift. (KNN Bureau) 40242 https://knnindia.co.in/news/newsdetails/sectors/g20-sherpa-amitabh-kant-pushes-for-speedy-implementation-of-pli-scheme-for-battery-production 2024-12-13 16:18:42 knnindia.co.in G20 Sherpa Amitabh Kant Pushes for Speedy Implementation of PLI Scheme for Battery Production