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Union Cabinet approves Production-Linked Incentive Scheme for Advanced Chemistry Cell Battery Storage

  • The Union Cabinet has approved the Production-Linked Incentive Scheme for the Advanced Chemistry Cell (ACC) Battery Storage with an outlay of 18 thousand 100 crore rupees.
  •  The move aims to achieve a manufacturing capacity of 50 GigaWatt Hour of ACC and five Giga Watt Hour of Niche ACC with an outlay of 18 thousand 100 crore rupees.
  • It will also give a big push to electric mobility, benefiting three-wheelers, four-wheelers and heavy vehicles. He said, India is currently importing Battery Storage Equipment worth 20 thousand crore rupees and the scheme will be helpful in making the country self-reliant (Atmanirbhar).
Tags: Current Affairs, Economics

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