India's EV plans to get a policy boost as govt may fast-track 3 big-ticket schemes
electric vehicles, local production of advanced technology batteries and faster procurement of electric buses by public transport networks during the first hundred days in office.
Top sources in the know told ET, the schemes being considered for approval include award of 10 GWh capacity under the PLI ACC (Production Linked Incentive Scheme for Advanced Chemistry Cells) to set up local units for making advanced batteries, a payment security mechanism for extending interest-free capital to automakers in case of default in payments by state-transport undertakings which will help facilitate widespread procurement and deployment of electric buses and the third chapter of the Faster Adoption and Manufacturing of Electric Vehicles (FAME 3).
All three schemes have been put up for inclusion in the 100-day agenda to accelerate the transition towards clean mobility solution to realise net zero objectives, a senior official aware of the development said, adding, the Prime Minister is scheduled to chair a meeting of secretaries from across ministries later this month to freeze the 100-day plan.
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The centre has received seven bids for re-awarding 10 GWh capacity under PLI ACC with a budgetary outlay of Rs 3,620 crore. “The tender will be awarded shortly. Local manufacturing of advanced batteries is critical and will help bring down costs of electric vehicles”, the official informed. As many as 18 players including Reliance Industries
