- The robust global interest comes amid the govt’s push to make India a hub for making EVs and their components
- India will need six gigawatt-scale facilities (of 10GWh each) by 2025 and 12 by 2030, according to a NITI estimate
Tesla and China’s Contemporary Amperex Technology Co. Ltd (CATL) are among the companies that have shown an initial interest in the Indian government’s plan to build large factories to make lithium-ion batteries at an investment of about ₹50,000 crore.
Among the other firms that have shown an interest in the mega project is China’s BYD Co. Ltd, said two government officials aware of the matter, requesting anonymity.
The robust global interest comes amid a strong push by the government to make India a global manufacturing hub for electric vehicles and their components. This is aimed at arresting the South Asian country’s reputation as the world’s third-largest crude oil importer, saving on precious foreign exchange and also controlling pollution in its major cities.
“This is a multibillion dollar opportunity. The EFC (expenditure finance committee) meeting has been done. It will now come up in the cabinet,” said the first government official cited above.
Source: Livemint
