MAY 20249TOP STORIESMINISTRY OF HEAVY ELECTRICALS SECURES SEVEN BIDS FOR CHEMICAL CELL MANUFACTURINGThe Ministry of Heavy Electricals announced on Tuesday that it has received seven bids under the global tender for the re-bidding of Production Linked Incentives (PLI) for 10 GWh Advanced Chemistry Cell (ACC) manufacturing aimed at supporting Electric Vehicle (EV) battery production.The bidders include ACME Cleantech Solutions Private Limited, Amara Raja Advanced Cell Technologies Private Limited, Anvi Power Industries Private Limited, JSW Neo Energy Limited, Reliance Industries Limited, Lucas TVS Limited, and Waaree Energies Limited. Together, they have submitted applications for a cumulative capacity of 70 GWh. The National Programme on ACC Battery Storage PLI Scheme, announced in January 2024 with a maximum budgetary outlay of Rs 3,620 crore, prompted this call for bidders.A pre-bid meeting was conducted by the government on February 12, 2024. The deadline for applications was set for April 22, 2024, with the technical bids being opened on April 23, 2024.In 2022, the government awarded PLI support for establishing 30 GWh of ACC battery manufacturing capacity by 2030. Ola Cell Technologies secured the majority with 20 GWh capacity, while ACC Energy Storage (bid as Rajesh Exports) and Reliance New Energy Battery Storage received incentives for 5 GWh each.The 20 GWh PLI capacity being rebid was originally allocated to Hyundai Global Motors, a company reportedly posing as South Korean firm Hyundai Motor Co. TATA MOTORS INVESTS $1B: EXPANDS LUXURY CAR PRODUCTION IN TAMIL NADUTata Motorsaims to boost its production potential by investing $1 billion in an ultra-modern plant that will be situated in Tamil Nadu state, southern India. The sources who are in the knowledge of the company's strategies revealed it that the plant will be engaged in making of the luxury vehicles under the banner of Jaguar Land Rover (JLR) according to sources. Tata Motors announces the investment in March, but the details about the brands of the cars being manufactured were not previously known until the current time. This latest example shows the deliberate strategy of the company to more completely and profitably assimilate JLR into its operations, which is a result of its acquisition of the luxury brand in 2008.Apart from that, the Indian automaker has already demonstrated that its wholesales worldwide are increasing once again over the fourth quarter of 2023-2024. Comprising up to 377,432 units, this figure is the growth of approximately eight percent as compared to the incomparable time a year ago. What is remarkable about this report is the fact that the passenger vehicles segment, which is made up of electric vehicles, performed strongly by boosting the number of units sold by 15 percentage points. The number of units for the same period reached 155,651.
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