FILE PHOTO: A man checks his mobile phone as he waits while recharging his Ola electric scooter at an electric vehicle charging station in New Delhi, India, February 12, 2022. REUTERS/Aditi Shah

March 17, 2022

By Aditi Shah

NEW DELHI (Reuters) – Reliance Industries and Softbank Group-backed Ola Electric have won bids to receive incentives under India’s $2.4 billion battery programme, four sources told Reuters.

The Indian government last year finalised a programme to incentivise companies to make battery cells locally as it looks to establish a domestic supply chain for clean transport and renewable energy storage to meet its decarbonisation goals.

Ten companies submitted bids totalling about 130 gigawatt hours (Gwh), of which four have won, the sources said.

Reliance and Ola did not immediately respond to requests for comment.

(The story is refiled to fix the company logo)

(Reporting by Aditi Shah. Editing by Gerry Doyle)

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