Lithium-ion battery market scenario in India

0 CommentsOctober 13, 2022

Lithium-ion battery market scenario in India

The use of Lithium-ion batteries in India is rapidly growing due to the increasing popularity of electric cars and the surge in demand for electronic devices such as laptops, tablets, and smartwatches.

India’s annual lithium-ion battery market will grow to 132 GWh in FY2029-30 from just 8.9 GWh in FY2020-21, with electric vehicles (EVs) accounting for 90% of the overall market – in just eight years.

In the current situation, there is no lithium-ion cell manufacturer in India, only lithium-ion battery assemblers are making from imported cells. Many companies have started setting up lithium-ion cell manufacturing plants in and will be start operational in 2023-24 onwards. They will reach a production capacity of 50GWh by 2026. Considering this setup there will huge production scrap available for recycling (about 30% will production loss in new factories). There is a huge scope and revenue by recovered elements of the batteries as mention below.

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