NITI Aayog plans Tesla-style gigafactories in India

According to a media report, the NITI Aayog plans to set up large factories to manufacture lithium-ion batteries at an investment of about Rs. 50,000 crore.

The report states that India will need 6 gigawatt-scale factories of 10 GWh each by 2025. The NITI Aayog estimates this number to double by 2030. Companies like Tesla, China-based Contemporary Amperex Technology Co. Ltd (CATL) and BYD have reportedly shown interest in the government's plan. The aim is to make India a global manufacturing hub for electric vehicles and reduce the nation's crude oil dependence, while also saving foreign exchange and reducing pollution in cities.

The Expenditure Finance Committee (EFC) has reportedly cleared plans to set up 50 GWh factories. The minimum and maximum ceiling for bidding is said to be 5 GWh and 20 GWh respectively. The final tender is expected to be awarded by February 2020. 

Besides serving the electric vehicle market, batteries produced at these factories are expected to be used to store energy generated through renewable sources.

Source: LiveMint