Current Affairs - Business - Discussion

State-run oil refiner Indian Oil Corporation Ltd will set up a 1 Giga Watt (GW) plant to make batteries used for running electric vehicles (EVs) in partnership with an overseas start-up using a non-lithium ion raw material. The move fits well with the government's strategy to facilitate the adoption of EVs in the country's energy basket, and cut the fuel import bill. It also supports a key element of the EVs industry batteries and their recharge.