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Features Writer Sanjib Roy

Sanjib Roy

Features Writer

Local lithium-ion batteries manufacturers in India

The development has come close on the heels of the Prime Minister’s Office (PMO) directing that most of the incentives of Rs 5,500 crore earmarked for the second phase of the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) India Scheme be used to encourage local manufacturing of lithium-ion batteries, which form the core of electric vehicles.

Though sales of electric vehicles have remained limited due to high costs and lack of charging infrastructure, industry insiders informed, the potential for battery makers is huge going ahead.

There are 400,000 lead-acid powered electric two-wheelers running on Indian roads today. Lithium-ion batteries come at a premium but have 3-4 times the life of a lead-acid battery. It becomes an obvious choice for existing owners looking to replace batteries.

Apart from component makers, battery manufacturers and power solutions providers, leading vehicle manufacturers too have evinced interest in the space.

Over a dozen companies ranging from auto component manufacturers to power and energy solutions providers including Exide, Exicom, Amaron, Greenfuel Energy Solutions, Trontek, Coslight India, Napino Auto & Electronics, Amara Raja Batteries, Trinity Energy Systems, Versatile Auto Components have rolled out their plans to make lithium-ion batteries locally to cash in on the wave for green vehicles in the country.

All Companies line up plans for lithium-ion batteries production

Decreasing Cost of Lithium-ion Batteries - To Supplement the Demand
The high cost of lithium-ion batteries was considered earlier as one of the principal difficulties for the implementation of India’s ambitious all-electric vehicle target by 2030. However, boosted by the growing demand for electric vehicles across the globe, coupled with favorable government policies, is expected to reduce the costs of lithium-ion batteries in India, significantly. The costs of lithium-ion batteries have fallen drastically, from approximately USD 1000 per kWh in 2010 to USD 273 in 2016, and is expected to decrease further. Furthermore, the domestic production of lithium-ion batteries in the country is expected to increase during the forecast period, 2018-2023, supported by the planned establishment of domestic lithium-ion battery manufacturing units by various companies and government. Similar combined initiatives of the government and companies are expected to reduce the lithium-ion battery prices, and thus, in turn, increasing orders from the end-users during the forecast period.

Key Developments in the India Lithium-Ion Battery Market
April 2017: Suzuki, Toshiba, and Denso reached a basic agreement to establish a joint venture company, for the production of automotive lithium-ion battery packs in India.

India Lithium-Ion Battery Market Major Players:
1. Future Hi-Tech Batteries.
2. Reliance Industries Limited.
3. JSW Group.
4. Adani Enterprise Ltd.
5. Mahindra & Mahindra Limited.
6. Suzuki Motor Corp.
7. Toshiba Corp.
8. Denso Corp.
9. Bharat Heavy Electricals Ltd.

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1. Current and future of the India lithium-ion battery market outlook
2. Various perspectives of the market with the help of PESTLE analysis
3. The segment expected to dominate the market
4. The latest developments, market shares, and strategies employed by the major market players

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According to the recently published TechSci Research report “India Lithium-ion Battery Market Forecast and Opportunities, 2020” the market for lithium-ion (Li-ion) batteries in India is projected to witness double digit growth at over 35% CAGR during 2015-20. Lower consumer awareness, inadequate investments by companies, and lack of technological innovations curbed the proliferation of lithium ion technology till the past few years. However, rise in technological developments and increasing need for cleaner energy sources have brought Li-ion batteries on the forefront across various industries as well as end-use sectors. As of now, India predominantly depends on China, South Korea and Taiwan for Li-ion batteries since the country does not have indigenous manufacturing operations for these batteries. However, to offset this challenge, companies are planning to start production of advanced Li-ion batteries in India itself.

Sanjib Roy, Founder of Academy of EV Technology :

News submitted on: 2019-05-21 19:42:58.

Local lithium-ion batteries manufacturers in India


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