Charging up with Li-ons 🔝
The Master-plan (Tesla alert)
Niti-Aayog just finalized a master-plan to build several mega-factories (over the next 5-10 years) that will manufacture re-chargeable lithium-ion batteries – starting with an investment of ₹50,000 crores that has been approved by the Expenditure Finance Committee (EFC).
Interested companies include two Chinese players (CATL + BYD) and our favorite Tesla, all of which are being welcomed by the govt with a gift-pack (inclusive of subsidies & benefits) to participate in the tender (expected to float in Sep).
Shooting Multiple targets with one arrow
While India’s renewable energy output is pretty high (only 4-5 countries have higher output), it is still a fraction of our energy requirements. Naturally, we have relied on fossil fuels and are the world’s 3rd largest importer of crude oil – that (particularly) stings our economy as it widens our trade deficit.
This master-plan can prove to be a big boost for the economy as the govt plans to install 12 such mega-units by 2030 and they are ready to offer big-incentives to private investors(especially domestic companies) and end-customers.