Reliance, Ola Electric, M&M bid for incentives under India’s EV battery scheme

Photo: Michael Marais / Unsplash.com

India’s Reliance Industries, Softbank Group-backed Ola Electric, and automaker Mahindra & Mahindra have submitted bids under the country’s $2.4 billion battery scheme, the government said on Saturday.

India last year finalised an incentive programme to encourage companies to invest in the local manufacturing of batteries as it looks to establish a domestic supply chain for clean transport and build storage for renewable energy.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter