Rajesh Exports to manufacture batteries under Rs18,000-crore PLI scheme

1 Aug 2022 , 12:26 PM

Rajesh Exports Ltd. has been selected by the Government of India for production of Advanced Chemistry Cells (Energy Storage Lithium lon Cells) for the Rs18,100 crore Production Linked Incentive scheme with other two being Reliance Industries and Ola Electric.

In this regard Rajesh Exports signed a Programme Agreement with the Ministry of Heavy Industries, Government of India on July 28, 2022 at New Delhi for manufacture of Advance Chemistry Cell under the production linked incentive scheme.

Rajesh Exports will be setting up 5 GWh Lithium lon Cell manufacturing plant with the finest and the most advanced technology. Manufacture of Lithium lon Cells will ensure the production and will usher in an Electric Mobility revolution in India, the company said.

Commenting on the development, Rajesh Mehta, Chairman, Rajesh Exports Limited said, “The  Company was ranked Number 1 Company from among the several Company’s which participated in the Advanced Chemistry Cells production PLI Scheme of Indian Government and were the top Company from only three Company’s selected out of the several Company’s for this Scheme.”

At around 12:28 PM, Rajesh Exports was trading at Rs605 per share up by Rs10.5 or 1.77% from its previous closing of Rs594.50 per share on the BSE.