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Time of India
15-05-2025
- Business
- Time of India
Battery PLI beneficiaries seek relief on penalties
The three beneficiaries selected for the Advanced Chemistry Cell (ACC) manufacturing program have sought relaxations from the Centre after not meeting the specific scheme deadlines. Slippages make the companies liable to penalties. The three beneficiaries of the ACC Production Linked Incentive (PLI) scheme are Ola Electric , Rajesh Exports and Reliance Industries . The Ministry of Heavy Industries is said to have received requests from all three participants. Minister H D Kumaraswamy will now take a call on waiving the penalty and allowing extension to the earlier deadlines. The National Programme on Advanced Chemistry Cell Battery Storage was launched with a ₹18,100 crore outlay in 2021. An official said the beneficiaries did not meet the December 2024 milestone. Notices were sent to companies in March 2025. Fresh notices were sent in May as well. According to officials aware of the matter, these penalties are in proportion to investment commitment and expected incentives to be accrued by company. If penalties are levied, Ola Electric would have to pay ₹12.5 lakh per day from January 1, 2025, until the commitments made by the company under the scheme are met. Reliance Industries-owned RNEL and ACC Energy Storage - which bid as Rajesh Exports - would have to pay ₹5 lakh per day. Speaking to ET, Rajesh Mehta, the executive chairman of Rajesh Exports said his company has sought because of force majeure. Queries to Reliance and Ola remained unanswered until press time. Mehta said Rajesh Exports was allotted land by Karnataka toward 2023-end and project implementation started immediately. "As per our own schedule, we were to initiate commercial production by October 2024, before December 2024 deadline. We faced a local farmers' agitation as soon as work started," he said, adding that peaceful possession of the land was received after 19 months with state government's intervention.
Time of India
15-05-2025
- Business
- Time of India
Battery PLI beneficiaries seek relief on penalties
New Delhi: The three beneficiaries selected for the Advanced Chemistry Cell (ACC) manufacturing program have sought relaxations from the Centre after not meeting the specific scheme deadlines. Slippages make the companies liable to penalties. The three beneficiaries of the ACC Production Linked Incentive (PLI) scheme are Ola Electric , Rajesh Exports and Reliance Industries . The Ministry of Heavy Industries is said to have received requests from all three participants. Minister H D Kumaraswamy will now take a call on waiving the penalty and allowing extension to the earlier deadlines. The National Programme on Advanced Chemistry Cell Battery Storage was launched with a ₹18,100 crore outlay in 2021. An official said the beneficiaries did not meet the December 2024 milestone. Notices were sent to companies in March 2025. Fresh notices were sent in May as well. According to officials aware of the matter, these penalties are in proportion to investment commitment and expected incentives to be accrued by company. If penalties are levied, Ola Electric would have to pay ₹12.5 lakh per day from January 1, 2025, until the commitments made by the company under the scheme are met. Reliance Industries-owned RNEL and ACC Energy Storage - which bid as Rajesh Exports - would have to pay ₹5 lakh per day. Speaking to ET, Rajesh Mehta, the executive chairman of Rajesh Exports said his company has sought because of force majeure. Queries to Reliance and Ola remained unanswered until press time. Mehta said Rajesh Exports was allotted land by Karnataka toward 2023-end and project implementation started immediately. "As per our own schedule, we were to initiate commercial production by October 2024, before December 2024 deadline. We faced a local farmers' agitation as soon as work started," he said, adding that peaceful possession of the land was received after 19 months with state government's intervention.
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Business Standard
14-05-2025
- Business
- Business Standard
ACC PLI beneficiary companies seek extension; govt may consider it
Reliance Industries Ltd (RIL), Ola Cell Technologies, and Rajesh Exports—beneficiaries under the battery storage Production-Linked Incentive (PLI) scheme—have sought a one-year extension from the government after failing to meet investment and domestic value addition conditions under the National Programme on Advanced Chemistry Cell (ACC) battery storage, according to government and industry sources. Though the government has not taken a final decision, it may consider granting an extension, a government official said. This development follows the imposition of penalties on all three beneficiaries for failing to meet the December 2024 milestone to set up a manufacturing plant within two years of signing the final agreement, despite having received all necessary approvals from both state and central governments. It has now been three years since these three companies were awarded 30 GWh of capacity under the ACC PLI scheme. Ola Electric Mobility was allotted 20 GWh, Rajesh Exports 5 GWh, and Reliance New Energy 5 GWh. The delays have been attributed to supply chain disruptions. The companies have informed the Ministry of Heavy Industries (MHI) that delays in sourcing critical equipment and machinery—primarily from China—have disrupted progress. The upstream supply chain, including plant and equipment essential for battery cell manufacturing, has reportedly been affected by export curbs and shipment delays from China. With a financial outlay of ₹18,100 crore, the ACC PLI scheme was announced in 2021 to support the development of 50 GWh of domestic cell manufacturing capacity. According to the scheme's guidelines, beneficiaries must achieve at least 25 per cent domestic value addition and invest ₹225 crore per GWh at the mother unit level. Delays in execution attract penalties amounting to 0.1 per cent of the performance security per day of delay. This translates to ₹12.5 lakh per day for Ola Electric and ₹5 lakh per day each for Reliance New Energy and Rajesh Exports. These amounts are to be deducted from future incentives payable under the scheme. 'Three beneficiaries under the ACC PLI have approached the minister for an extension of about a year. No final decision has been made yet—it is under consideration,' the official said, adding that any extension or relaxation would be granted only after a detailed review. A senior executive at RIL anonymously confirmed the development, but an email sent to an RIL spokesperson did not elicit a response till press time. An Ola Electric spokesperson neither confirmed nor denied the development but stated: 'Ola Electric has been the first to set up its Gigafactory in India and has successfully developed the cutting-edge 4680 Bharat Cells completely in-house. We currently have an installed capacity of 1.4 GWh and are rapidly accelerating towards the 5 GWh milestone. We commenced trial production at our Gigafactory in March 2024 and secured BIS certification for our lithium-ion cells in May 2024.' 'We have announced commercial production of our cells beginning Q1 FY26 and are on track to meet the set timelines. Ola Electric will be the first to commercially manufacture lithium-ion cells in India under the government's ACC PLI scheme. We continue to have regular discussions with MHI regarding updates on our progress and milestone timelines,' the spokesperson added.
Time of India
14-05-2025
- Business
- Time of India
Battery PLI beneficiaries seek relief on penalties
New Delhi: The three beneficiaries selected for the Advanced Chemistry Cell (ACC) manufacturing program have sought relaxations from the Centre after not meeting the specific scheme deadlines. Slippages make the companies liable to penalties. The three beneficiaries of the ACC Production Linked Incentive (PLI) scheme are Ola Electric , Rajesh Exports and Reliance Industries . The Ministry of Heavy Industries is said to have received requests from all three participants. Minister H D Kumaraswamy will now take a call on waiving the penalty and allowing extension to the earlier deadlines. The National Programme on Advanced Chemistry Cell Battery Storage was launched with a ₹18,100 crore outlay in 2021. An official said the beneficiaries did not meet the December 2024 milestone. Notices were sent to companies in March 2025. Fresh notices were sent in May as well. According to officials aware of the matter, these penalties are in proportion to investment commitment and expected incentives to be accrued by company. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cracks in Concrete? Repair Methods Most People May Not Know About Concrete Crack Repair | Search Ads Search Now Undo If penalties are levied, Ola Electric would have to pay ₹12.5 lakh per day from January 1, 2025, until the commitments made by the company under the scheme are met. Reliance Industries-owned RNEL and ACC Energy Storage - which bid as Rajesh Exports - would have to pay ₹5 lakh per day. Speaking to ET, Rajesh Mehta, the executive chairman of Rajesh Exports said his company has sought because of force majeure. Queries to Reliance and Ola remained unanswered until press time. Live Events Mehta said Rajesh Exports was allotted land by Karnataka toward 2023-end and project implementation started immediately. "As per our own schedule, we were to initiate commercial production by October 2024, before December 2024 deadline. We faced a local farmers' agitation as soon as work started," he said, adding that peaceful possession of the land was received after 19 months with state government's intervention.
