Maharashtra’s share of the country’s EV registrations stood at around 12 per cent with approx 32,000 vehicles registered
The state transport ministry of Maharashtra is pushing to set up a gigafactory to manufacture advanced lithium-ion batteries. The ministry, as part of its recently revised electric vehicle policy, met state’s chief minister Udhav Thackeray and made a presentation around setting up the factory in the state.
A report by Economic Times states that the CM was positive about the presentation, and has advised the ministry to submit the draft of the policy to cabinet. The presentation also included plans around setting up e-charging stations at bus stops, government offices and in private residential buildings.
Economic Times quoted transport commissioner Avinash Dhakne saying ,”There has to be affordability and good infrastructure to push for e-vehicles.” It is to be noted here Maharashtra’s share of the country’s EV registrations stood at around 12 per cent with approx 32,000 vehicles registered.
The market for lithium-ion batteries in India, as per Report Linker, is expected to grow at a CAGR of 12. 47 per cent during the 2021 to 2026 period. The market value in 2019 was USD 1. 89 billion.
PLI for ACC Battery
Meanwhile, the Cabinet (Central Government, has approved the production-linked incentive (PLI) scheme for the manufacturing of advanced chemistry cells (ACC) battery storage. It has a budgetary outlay of Rs.18,100 crore for achieving a manufacturing capacity of fifty (50) GigaWatt hour (GWh) of ACC and 5 GWh of ‘Niche’ ACC.
Under the PLI scheme, the government hopes to achieve direct investment of around Rs.45,000 crore in ACC Battery storage manufacturing projects, and import substitution of around Rs.20,000 crore every year, in accordance with the ‘Atmanirbhar Bharat’ initiative to put greater emphasis upon domestic value-capture.
It also expects a boost in electric vehicle (EV) adoption following the implementation of this scheme, which would reduce oil imports and help save Rs. 2,00,000 crore to Rs.2,50,000 crore. Tesla, one of the biggest EV brands in India, has also started operation in India in 2021.
