'Battery storage' will be produced in the country itself, electric vehicles will run and no fuel will be needed: Javadekar

Union Minister Prakash Javdekar (Union Minister Prakash Javdekar) at a press conference on Wednesday gave detailed information about the important decision taken in the cabinet meeting chaired by Prime Minister Narendra Modi. He said, 'Today a meeting was held under the chairmanship of the Prime Minister and so far a decision has been taken regarding production of battery storage imported from outside the country itself. He said, 'Today, the decision taken on battery storage is a scenario of' self-reliant India 'and' Make in India is also an invention '. " The Union Minister described it as 'Win-Win Formula' for the country.

These advantages will be achieved by manufacturing battery storage in the country

The Union Minister also mentioned the benefits of battery storage being built in the country. Javadekar said, 'To increase battery storage, we import 20 thousand batteries of storage from outside, but now it will be produced in the country under PLI (Production linked Incentives). "The Union Minister further said," Going forward, the import of fuel on a large scale will also be reduced. An investment of 45 thousand crores will come into the country. The electrical vehicle scheme will also benefit from this scheme. When we use battery storage, coal will be saved. He told that India spends 20 thousand crores on the import of batteries. But its production in the country itself will give an impetus to electric vehicles. The Union Minister said, 'The companies producing this battery storage will get an incentive of Rs 18 thousand crores. This amount will be given to the companies under the PLI scheme in 5 years.

Used in electric vehicles

Energy from advanced chemistry cells is stored in chemical form. It is used in electric cars. Right now, India imports it on a large scale. The government wants to reduce its imports and increase its production domestically. Explain that the PLI scheme has been introduced to promote products in the country itself. Through this, companies are also given financial assistance in addition to special discounts on setting up their manufacturing units and imports in the country.