Thriving domestic demand for Li-ion batteries

A report by management consulting firm Arthur D Little has projected an escalation in demand for lithium-ion batteries (for electric vehicles), in India. The demand is expected to increase from 3 GWh at present, to 20 GWh by 2026 and further growing to 70 GWh by 2030.

The report ‘E-Mobility: Cell Manufacturing in India’, says that India needs to invest over US$10 billion in the cell manufacturing and raw material refining so as to meet the rising domestic demand for Li-ion batteries. India is currently meeting its domestic requirement for batteries largely through imports, mainly importing from China and Hong Kong.

Barnik Chitran Maitra, India Managing Partner Arthur D Little said, “To accelerate India’s electric mobility growth, the government and the industry ecosystem must collaborate, to nurture a self-reliant, local EV value chain, with established battery manufacturers, OEMs, and startups, investing in continuous R&D, partnerships, and global alliances to create a strong supply chain”.