In May last year, the company laid the foundation stone for its first giga factory in Mahbubnagar district in Telangana. It is for producing Lithium Cell and Battery Packs, with an ultimate capacity of up to 16 GWh and 5 GWh, respectively.
Get latest articles and stories on Latest News at LatestLY. Industry body India Energy Storage Alliance (IESA) has demanded a 10-year tax holiday for projects with standalone battery energy storage using renewable energy. Latest News | IESA Demands 10-year Tax Holiday on Standalone Battery Energy Storage Using Renewables.
EV Sales In India: The driving force behind this is a confluence of factors, including the availability of the FAME-II subsidy, which has proven to be a catalyst, with a substantial budget allocation of USD 1.2 billion assigned to subsidise various EV segments, it said. The central government s commitment to fostering an indigenous EV ecosystem is evident in the approval of a USD 3.5-billion Production-Linked Incentive (PLI) scheme for the manufacturing of automobiles and auto components, thereby nurturing the development of the EV supply chain in the country, as per the report.