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Govt mulling fresh bid for one vacant slot in advanced cell PLI

Sources say that the plan is to provide incentives, especially in R&D, of up to a total of 5GWH of capacity

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The others in the wait list included Exide Batteries, Larsen & Toubro, Amara Raja Batteries and India Power Corporation Ltd

4 min read Last Updated : Feb 23 2023 | 12:13 AM IST

The government is considering the option of inviting fresh applications to bid for the fourth slot which fell vacant after one of the initial candidates who qualified, Hyundai Global Motors, exited from the production linked incentive (PLI) scheme for advanced chemistry cell battery storage with a capacity of 20 GWH.

Earlier, stakeholders had expected that the vacant slot would be offered to waitlisted players ranked on their technical and financial offer. A final decision will be taken by soon.

The government had originally declared Hyundai Global Motors as one of the four eligible players out of the nine who applied for the PLI scheme. But it was forced to re-examine its offer after the South Korean automobile giant Hyundai Motor Company said it had no link with Hyundai Global Motors and the latter was not authorised to use the Hyundai trademark and logo.