Ola Cell Technologies Private Limited, a division of Ola Electric Mobility, has entered into a Programme Agreement with the Ministry of Heavy Industries as part of the Production Linked Incentive (PLI) Advanced Chemistry Cell (ACC) scheme. The agreement aims to boost India’s local production of batteries for electric vehicles.
The Union Cabinet approved the PLI ACC scheme in May 2021, allocating a budget of Rs 18,100 crore to create large-scale battery manufacturing plants in India. The initiative corresponds with the government’s aim of enhancing the nation’s EV ecosystem and lessening reliance on battery imports.
Through its involvement in the scheme, Ola Electric aims to enhance its battery production capacity and support India’s electric mobility objectives. The initiative aims to assist the company in creating advanced chemistry cells and enhancing domestic value addition.
The partnership is a component of a wider initiative to encourage local battery production as part of the 'Make in India' movement. Enhancing local manufacturing of ACC batteries is anticipated to lower expenses and increase the accessibility of electric vehicles. As the demand for electric vehicles increases, India is concentrating on establishing a local supply chain for essential battery elements. The government advocates for self-sufficiency in advanced battery storage technologies, and collaborations with private companies such as Ola Electric are essential for reaching that objective.
Through supporting extensive battery manufacturing, the government intends to create a competitive market for EV parts, establishing India as a significant player in the worldwide clean energy shift.
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