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India is about to launch a tender for lithium-ion battery projects to build 50 GW of lithium-ion battery production capacity in India, a further increase
from the 40 GW previously advocated.
According to a senior official of NITI Aayog, a think tank of the Indian government, in an interview with local media, the government will consider introducing subsidies, tax cuts and other financial incentives within a week, including import and export tax exemptions for up to 8 years for successful bidders, and halving the minimum alternative tax
.
In order to ensure the timely establishment of the desired lithium-ion battery manufacturing base, it is expected that the government tender and project completion timeline will be very strict
.
"NITI Aayog must complete the bid within six months of cabinet approval, and the winning bidders must set up production facilities by 2022, after which they will receive incentives for 8 years, i.
e.
until 2030
," the official report said.
”
The government has sought advice from states on land supply and cooperation between battery manufacturers
.
Overall, the government may identify 5-20 sites, and companies interested in bidding will be invited to set up battery factories
in the shortlisted sites.
The Energy Storage Alliance of India expects the Indian energy storage market to increase to more than
300 GWh by 2025.
India currently relies on imports for almost all lithium-ion batteries
.
Therefore, India hopes to reduce its dependence
on imports by building a lithium-ion battery manufacturing base.
In addition, the Indian government aims to ensure that electric vehicles account for 30%
of car ownership by 2030.
India is about to launch a tender for lithium-ion battery projects to build 50 GW of lithium-ion battery production capacity in India, a further increase
from the 40 GW previously advocated.
According to a senior official of NITI Aayog, a think tank of the Indian government, in an interview with local media, the government will consider introducing subsidies, tax cuts and other financial incentives within a week, including import and export tax exemptions for up to 8 years for successful bidders, and halving the minimum alternative tax
.
In order to ensure the timely establishment of the desired lithium-ion battery manufacturing base, it is expected that the government tender and project completion timeline will be very strict
.
"NITI Aayog must complete the bid within six months of cabinet approval, and the winning bidders must set up production facilities by 2022, after which they will receive incentives for 8 years, i.
e.
until 2030
," the official report said.
”
The government has sought advice from states on land supply and cooperation between battery manufacturers
.
Overall, the government may identify 5-20 sites, and companies interested in bidding will be invited to set up battery factories
in the shortlisted sites.
The Energy Storage Alliance of India expects the Indian energy storage market to increase to more than
300 GWh by 2025.
India currently relies on imports for almost all lithium-ion batteries
.
Therefore, India hopes to reduce its dependence
on imports by building a lithium-ion battery manufacturing base.
In addition, the Indian government aims to ensure that electric vehicles account for 30%
of car ownership by 2030.
