RIL, TATA, ADANI, SUZUKI JV TO TAP PLI PLAN FOR LI-ION BUSINESS
NEW DELHI: Reliance Industries Ltd (RIL), Adani Group, Tata Chemicals, Larsen and Toubro Ltd (L&T), and a joint venture (JV) led by Suzuki Motor Corp. are among companies who have shown interest in building lithium-ion cell manufacturing plants in India, said three people aware of the matter.
State-run Bharat Heavy Electricals Ltd (Bhel), Exide Industries Ltd, Amara Raja Batteries Ltd, Greeenko Group and Renew Power are also in the race, the people cited above said, requesting anonymity.
These companies have in the past few weeks informed government officials about their intent to take part in the production linked incentive (PLI) scheme for lithium-ion cell manufacturing, but with certain conditions, the people cited above said. The conditions put forward could not be immediately ascertained.
One of the three people cited above said the government expects some of the domestic firms to partner with foreign firms to make investments in these projects. “Some of these firms also plan to engineer a shift towards renewable energy and reduce dependence on traditional energy businesses. Hence, manufacturing lithium cells gives them a chance to take a step forward in that direction and with 50% of new vehicle sales expected to turn electric in the next 10-15 years, there will be demand, and huge capacities will be needed,” the person said.
“We will be the first one to start manufacturing Li-ion cells in India. We are looking at all possible ways of expanding cell production in India,” said a spokesperson for TDS Lithiumion Battery Gujarat Pvt. Ltd.
Queries emailed to the spokespersons of RIL, Adani Group, Tata Chemicals, L&T, Exide Industries, Amara Raja Batteries, Greenko and Renew Power remained unanswered.