We currently import many parts for electric vehicles from China. In such a situation, it is the effort of both Reliance and the government in the coming times, that more and more things can be made in India, so that along with domestics, exports will also benefit.
Reliance Industries Limited
Mukesh Ambani’s Reliance Industries Limited announced last week that it is going to invest in the Giga factory for advanced chemical cell battery storage and hydrogen fuel cells. For this, the company is running with the government’s plan, so that in the coming decade, a smooth transition can be seen in electric mobility. Indian policy makers are trying to ensure an efficient supply chain for electric vehicles that will contribute to both domestic and export demand.
Lithium cells and batteries make up more than 40% of the total acquisition cost of any electric vehicle, and domestic manufacturing of these components will not only help reduce costs in the long term but also reduce dependence on exports. In addition to lithium-ion powered electric vehicles, India is also aiming to promote hydrogen fuel cell-powered vehicles, which are considered to be a more eco-friendly option.
Will not depend on China
Following the Covid-19 pandemic and border conflicts with China, the central government is prompting automakers to reduce their dependence on China and other countries for importing critical auto parts such as engines, transmissions, infotainment and other semiconductor-based components. has been.
Another area where it wants to be self-reliant is the domain of electric mobility. The Government of India, apart from formulating policies to encourage the sale of electric vehicles, is also planning to set up an efficient supply chain network for zero emission vehicles that can cater to the domestic and export markets.
At present, EV manufacturers import components such as lithium-ion cells, electric motors and more from China. India has not yet developed a supply chain for such components. A production-linked incentive scheme with an amount of Rs 18000 crore has also been launched to develop manufacturing hubs for these components and the Center is looking to woo domestic companies in the energy sector to set up lithium-ion cell manufacturing plants in the coming decade. is trying.
Reliance is investing many thousands of crores
At the recently concluded Annual General Meeting of RIL, Chairman Mukesh Ambani said that the company will invest Rs 60,000 on four so-called giga factories to produce solar cells, modules, hydrogen, fuel cells and battery grids to store electricity on 5,000 acres of land. crores will be spent. The world’s largest refining complex is located in Jamnagar, Gujarat. Ambani told shareholders at the company’s annual meeting that RIL will spend Rs 15,000 crore in developing value chains, partnerships and future technologies.
Apart from Reliance, other companies such as Tata Chemicals Ltd and Amara Raja Batteries Ltd also announced their intention to invest in lithium cell manufacturing capacity and electric vehicle charging equipment.
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