/images/ppid_59c68470-image-178356752984764958.webp)
What is the story about?
Shares of Reliance Industries, Exide Industries and Amara Raja Energy & Mobility
are expected to remain in focus on Thursday, July 9, after the Centre exempted customs duty on select goods used in the manufacture of lithium-ion cells.
The move is expected to reduce the cost of importing key raw materials and components, lowering input costs for domestic battery manufacturers and supporting India's efforts to build a local battery manufacturing ecosystem.
Reliance Industries is among the companies expected to benefit from the announcement. The conglomerate is setting up a 10 GWh battery gigafactory at Jamnagar and is one of the beneficiaries under the government's Advanced Chemistry Cell (ACC) Production Linked Incentive (PLI) scheme.
Amara Raja Energy & Mobility is also expanding its presence in the lithium-ion battery segment through a 16 GWh cell manufacturing facility in Telangana. The customs duty relief could help improve project economics as the company ramps up capacity.
Exide Industries is another key beneficiary. Its subsidiary, Exide Energy Solutions, is developing a multi-gigawatt lithium-ion cell manufacturing plant in Bengaluru. Lower import costs for machinery and components are expected to support the commissioning and scaling up of the facility.
The move is expected to reduce the cost of importing key raw materials and components, lowering input costs for domestic battery manufacturers and supporting India's efforts to build a local battery manufacturing ecosystem.
Reliance Industries is among the companies expected to benefit from the announcement. The conglomerate is setting up a 10 GWh battery gigafactory at Jamnagar and is one of the beneficiaries under the government's Advanced Chemistry Cell (ACC) Production Linked Incentive (PLI) scheme.
Amara Raja Energy & Mobility is also expanding its presence in the lithium-ion battery segment through a 16 GWh cell manufacturing facility in Telangana. The customs duty relief could help improve project economics as the company ramps up capacity.
Exide Industries is another key beneficiary. Its subsidiary, Exide Energy Solutions, is developing a multi-gigawatt lithium-ion cell manufacturing plant in Bengaluru. Lower import costs for machinery and components are expected to support the commissioning and scaling up of the facility.
/images/ppid_a911dc6a-image-17834275291294378.webp)
/images/ppid_a911dc6a-image-178348106813832700.webp)
/images/ppid_59c68470-image-178335009711959807.webp)
