India is nearing the rollout of a fresh incentive program for advanced battery cell component makers worth up to Rs 13,000 crore ($1.37 billion), according to people familiar with the program, part of Prime Minister Narendra Modi’s push to close a persistent cost gap with Chinese producers.
While India already provides subsidies for making cells used to power electric cars and for energy storage, the first set of local battery makers have been navigating supply chain snags. That’s why New Delhi is now trying to spur manufacturing of parts that go into cells, said these people, who didn’t want to be identified discussing confidential matters.
