Government plans incentives for battery component manufacturing to boost electric vehicle industry
electric vehicle industry and meet growing energy storage demand.
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The Ministry of Heavy Industries is in the process of identifying locally-produced battery components that need financial support, ET has learnt. This could be on the lines of subsidies offered under current production-linked incentives schemes for certain industries.
«Discussions are underway, but the scheme is not finalised yet. A call on the quantum of sops will be taken at a later stage,» said a senior government official.
The battery manufacturing industry had been seeking incentives for manufacturing components like cathode, anode, electrolyte and adhesives.
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