Govt Planning $4.6 Bn In Incentives For Battery Makers In EV Push

In a big push to promote the use of electric vehicles, the government has proposed to offer $4.6 Bn in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles.

The proposal drafted by Niti Aayog is likely to be reviewed by the Union cabinet in the coming weeks, said a senior government official on condition of anonymity.

Niti Aayog’s proposals have among other things recommended incentives of $4.6 Bn by 2030 for companies manufacturing advanced batteries, starting with cash and infrastructure incentives of INR 900 Cr in the next financial year which would then be ratcheted up annually.

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