The new budget aims to seize the opportunity in energy storage and EVs through a range of incentives. However, alongside demand, production and export, the government also needs to focus on e-waste management and Li-ion battery recycling to sustain raw material supply and minimize environmental impact.
The annual report has placed EVs at the heart of India’s decarbonization and called for an Indian answer to the U.S. ‘Motor City’ of Detroit, where electric vehicles and the batteries to run them could be manufactured.
The Finnish clean energy major will install public charging stations for electric vehicles across MG’s showrooms in 5 cities including Delhi NCR, Hyderabad, Mumbai, Bengaluru and Ahmedabad by September this year.
Previously, a mere €240 million (Rs1,870 crore) was set to flow into the giga-factory. The corporation’s management reasoned new demand for its battery cells made more investment necessary.
The German battery manufacturer will make products for electric trucks and buses at the facility, which is expected to employ 200 workers and produce 400 megawatt-hours of batteries annually.
Mining company Neometals and Manikaran Power have started a jointly funded study into the feasibility of establishing India’s first lithium refinery, which would process ore from the Mount Marion mine in Western Australia.
Bidders can now lodge their interest until July 1 and are required to submit any amendments, signed and stamped, along with the bid.
The government is considering financial incentives such as import and export duty waivers to woo battery manufacturers to set up a globally competitive manufacturing base in India.
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