This article explores the current state of Lithium-ion battery manufacturing in India. Currently, either Li-ion cells are imported from China or Taiwan to be assembled into batteries in India, or already assembled battery packs are being imported. Considering the ambitious plans to push EVs, these imports are going to cost the economy dearly.
India imported $929 million worth of lithium batteries in the first eight months of the 2019-20 financial year. This is a significant increase from the $384 million worth imported in 2016-17. The data also shows a 300% spike in lithium battery imports, with 71.2 crore units worth $1.2 billion imported in 2018-19.
In the year 2030, the recycling market is estimated to be around 22 - 23 GWh, which is a $1,000 million opportunities. KOLKATA: The lithium-ion battery market is expected to grow exponentially in the next five years in India and its recycling offers a $1000 million opportunity by 2030, JMK Research has estimated.
EVM Arabia has also received a gas and power allocation from the Saudi Arabian Ministry of Energy. The gas allocation is equivalent to a daily standard amount of 6,240,000 cubic feet.