BHEL, Libcoin to build India’s first Li-ion battery unit

“BHEL will send a team of senior officers for study of the facilities, R&D infrastructure and other techno-commercial issues soon. Based upon the recommendations, further process towards formation of joint venture will be carried forward,” the heavy industries and public enterprises ministry said.

It said the project will bring energy independence by replacing oil imports with abundant renewable. “This project also includes ‘Made by India, for India’, with focus on core-cost components manufactured domestically. It will also create integrated manufacturing ecosystem resulting in self-reliance and lower cost.” The number of electric cars in the world already hit million-mark last year and the International Energy Agency has projected almost 140 mn electric cars globally by 2030.