Tech

Reliance, Ola Electric and others to win incentives under India’s $2.4 billion battery program – sources

FILE PHOTO: A man checks his mobile phone while waiting while charging his Ola electric scooter in New Delhi
FILE PHOTO: A man checks his mobile phone while waiting while charging his Ola electric scooter at an electric vehicle charging station in New Delhi, India February 12, 2022. REUTERS/Aditi Shah

March 17, 2022

By Aditi Shah

NEW DELHI (Reuters) – Reliance Industries and Softbank Group-backed Ola Electric have won bids to win incentives under India’s $2.4 billion battery scheme, four sources told Reuters.

The Indian government last year completed a program designed to encourage companies to manufacture battery cells locally to build a domestic supply chain for clean transport and renewable energy storage to meet its decarbonization goals.

Ten companies have submitted bids totaling around 130 gigawatt hours (Gwh), of which four have won the contract, the sources said.

Reliance and Ola did not immediately respond to requests for comment.

(The story is refiled to fix the company logo)

(Reporting by Aditi Shah. Editing by Gerry Doyle)

https://www.oann.com/reliance-ola-electric-others-to-get-incentives-under-indias-2-4-billion-battery-scheme-sources/?utm_source=rss&utm_medium=rss&utm_campaign=reliance-ola-electric-others-to-get-incentives-under-indias-2-4-billion-battery-scheme-sources Reliance, Ola Electric and others to win incentives under India’s $2.4 billion battery program – sources

Emma Bowman

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