In order to grow the manufacturing of lithium-ion batteries, the nation requires a total investment of Rs 33,750 crore and production is expected to be around 70-100 GWh by 2030.
India has the huge potential to manufacture lithium-ion batteries, as Jammu and Kashmir alone has six percent of the nation’s Lithium stock, remarks Union Road Transport and Highways Minister Nitin Gadkari. The Union Minister also proclaimed that Ola is highly anticipated to manufacture lithium-ion batteries for EVs soon.
According to the minister, lithium-ion batteries cost Rs 150 per KW. The price has now plummeted to Rs 105, and it will decrease further in the coming two years. Moreover, there is a high possibility that parts from lithium-ion, aluminium-ion, and zinc-ion batteries will also cut the manufacturing cost of the batteries, which will further decrease the selling price of electric cars.
Highlighting India’s potential to export EVs, quality assurance is the urgent need of the hour. Car-makers will have to focus on quality and then a huge volume of vehicles could be exported to Bangladesh, African countries, and Nepal. Hero and Baja, India’s leading two-wheelers are exporting 50 percent of its two wheelers. In the coming five years, India is also aiming to become the globe’s top automobile manufacturer. This ambitious goal and the potential for growth in the electric vehicle industry instil optimism and hope for the future.
Lithium, known as ‘White Gold’, is crucial in manufacturing batteries. Its higher density makes it a key component in smartphones, electric vehicles, and other electronic devices. In order to grow the manufacturing of lithium-ion batteries, the nation requires a total investment of Rs 33,750 crore, reports Council on Energy, Environment and Water (CEEW). By the end of 2030, the country’s lithium battery production is anticipated to be around 70-100 GWh.
Minister Gadkari remarked that recycling in the scrapping units can further decrease production costs. Regarding the shift to alternate fuel, Indian Oil has commenced producing 1 lakh crore litres of ethanol from rice straw and 88,000 tonnes of bio-aviation fuel. Hydrogen is another alternative fuel, which is expected to be highly cheap if produced from municipal waste. To make 1kg of hydrogen, around 50 units of electricity is required.
The minister concluded by highlighting the growth ratio of the Indian automobile industry. According to him, the industry witnessed a growth of Rs 22 lakh crore from Rs 7 lakh crore in the last decade. India’s automobile industry has contributed the most in export volume and GST revenue.
