The Indian government has extended the production-linked incentive (PLI) scheme deadline for battery manufacturing projects awarded to Ola Electric and Reliance New Energy until 2031, according to livemint.com. This extension aims to support the completion of their respective projects under the PLI Advanced Chemistry Cell (ACC) scheme, which originally targeted 40 GWh of battery capacity.
The PLI ACC scheme awarded contracts worth 40 GWh, but so far only 1.4 GWh, contributed by Ola Electric, is operational, according to government data cited by livemint.com. While Ola Electric and Reliance New Energy received the extension, Rajesh Exports Ltd, the third beneficiary, was excluded due to a Securities and Exchange Board of India (SEBI) investigation into governance issues within the company.
The extension underscores the government’s continued support for scaling up domestic battery manufacturing capacity, critical for India’s electric vehicle and clean energy ambitions. The PLI scheme is a key policy tool to boost local production and reduce reliance on imports. The exclusion of Rajesh Exports highlights regulatory scrutiny in the sector, reflecting the government’s focus on governance standards alongside industrial growth.
The deadline extension for Ola Electric and Reliance New Energy to complete their battery projects is now set for 2031, as confirmed by official government communications reported by livemint.com.