Currently, the dependence on foreign imports for lithium-ion batteries is a roadblock to delivering cost-efficient EVs to Indian customers. However, falling lithium prices and the discovery of lithium reserves in India have provided hope for lower costs and potential local sourcing. This, along with government initiatives to achieve self-reliance in battery manufacturing, is expected to lower EV costs, reduce import dependency, and make EVs more affordable in India.
Currently, the dependence on foreign imports for lithium-ion batteries is a roadblock to delivering cost-efficient EVs to Indian customers. However, falling lithium prices and the discovery of lithium reserves in India have provided hope for lower costs and potential local sourcing. This, along with government initiatives to achieve self-reliance in battery manufacturing, is expected to lower EV costs, reduce import dependency, and make EVs more affordable in India.
Li-ion Battery: US-based IBC signed an agreement with the state government this month to set up a recyclable lithium-ion battery manufacturing unit. The company plans to invest INR 8,000 crore in the project.
US-based IBC signed an agreement with the state government this month to set up a recyclable lithium-ion battery manufacturing unit. The company plans to invest Rs 8,000 crore in the project.