MoF approves NITI Aayog’s plan to subsidise manufacturing of batteries

The Ministry of Finance has approved a plan by NITI Aayog to subsidise manufacturing of batteries for EVs. The proposal, which is currently awaiting cabinet approval, entails the provision of an annual subsidy of up to Rs 7 billion to manufacturers. The plan entails creating 50 GWh of battery capacity in the country.

 

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