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PMO for incentives to lithium-ion batteries over electric vehicles

September 11, 2018

The prime minister’s office (PMO) has sought reworking of a proposal to offer incentives of as much as Rs 5,500 crore ($759 million) for electric cars as it wants to use most of the funds to encourage local manufacturing of lithium-ion batteries, which form the core of such vehicles. The PMO wants the focus to be on subsidies for lithium-ion batteries. Companies such as Maruti Suzuki India Ltd and Hyundai Motor Co. have already unveiled their electric vehicle plans for India.

https://www.livemint.com/Industry/JQyksIjj8vPPZsppfzBdfM/PMO-for-incentives-to-lithiumion-batteries-over-electric-ve.html