Ensuing the unveiling of the Indian government’s 40 GW battery production plan for the states, Telangana has pitched for a 5 GW lithium ion plant by declaring the ready accessibility of 200 acres of land plus power and water for the fab at a concessional rate.
The Indian government desires to set up 40 GW of li-ion battery manufacturing capacity in states which would attract investment of $40 billion over two to three years.
The Telangana state government made the proposal after the federal government asked states to compete to establish internationally competitive li-ion battery manufacturing facilities. The central government wants 40 GW of battery manufacturing capacity to thrust the adoption of electric vehicles and renewable energy in India. Under federal government proposals, five states would be nominated with domestic and overseas battery manufacturers reinvigorated to bid for plants.
NITI Aayog, Telangana chief secretary S.K. Joshi prepared the case for a 5 GW lithium battery factory by declaring the availability of 200 acres of land near Hyderabad’s airport and outer ring road. The state government would also make accessible the mandatory power and water to the plant at a concessional rate, as per report.
The government of India has vowed to warrant 30% of road vehicles are electric by 2030. The Union cabinet chaired by prime minister Narendra Modi formerly permitted implementation of the Faster Adoption and Manufacturing of Electric Vehicles in India Phase II program for the promotion of electromobility.
Batteries, a vital component, account for virtually half the cost of EVs and the cost of producing them could be reduced through domestic manufacturing facilities.
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