NEW PRODUCTION CAPACITY FOR ELECTRIC VEHICLES AND BATTERY MANUFACTURING UNDER FAME PHASE-II SCHEME
The FAME Phase-II Scheme, concluded on 31.03.2024, had no provision of setting up new production capacity for electric vehicles or battery manufacturing. However, the Government on 09.06.2021 notified the Production Linked Incentive (PLI) Scheme “National Programme on Advanced Chemistry Cell (ACC) Battery Storage” in the country with a budgetary outlay of Rs.18,100 crore. This scheme aims to establish a competitive domestic manufacturing ecosystem for 50 GWh of ACC batteries. Under this Scheme, so far, one beneficiary firm has established a giga-scale ACC manufacturing plant with an installed capacity of 1GWh. It has commenced pilot production.
The Ministry of MSME is implementing "MSE -Green Investments and Financing for Transformation Scheme (MSE-GIFT Scheme)" through SIDBI (Implementing Agency). The overall objective of the MSME GIFT Scheme is to provide support to the MSEs in accessing institutional finance at a concessional rate for adopting clean / green technologies including technologies of Automobile Sector and Electric Vehicles and its Charging Infrastructure and help them to transform into green and sustainable business operations. The Scheme is valid till 2025-26.
This information was given by the Minister of State for Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Rajya Sabha today.
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TPJ/NJ
(Release ID :281197)