At this point, the writing on the wall is quite clear - electric vehicles (EVs) are the future of mobility. With many governments committing to transition to EVs and providing strong policy support, they are now increasingly being seen as a viable alternative to conventional vehicles with internal combustion engines (ICES). EVs are a ripe opportunity for disruption, for example, just look at Tesla, and India has the opportunity to redefine itself as a global leader in clean mobility. However, to make this a reality the nascent EV industry in India will need to be supported by a robust battery ecosystem. Batteries are one of the most critical aspects of an EV, comprising significant portion of costs and a direct bearing on the number one consumer concern for EVS - range. Boosting the domestic battery ecosystem will be essential to the growth of the Indian EV industry as well as the viability of other green technologies like renewable energy.
The EV market in India is young but is also growing at an exponential rate. It is projected to grow at a compounded annual growth rate of 90 per cent and touch $150 billion by 2030. The projected total sale of EVs (two-wheelers, three-wheelers, cars, buses) in 2022 was 10 lakh units - this is the amount of EVs sold cumulatively over the last 15 years. To meet this demand for EVs, the automotive industry will need an annual battery capacity of 158 GWh by FY30. For context, 198 GWh was the global output of lithium-ion (li-on) battery cells in 2017. So, the scale of the task is monumental.
THE BATTERY CONUNDRUM
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Esta historia es de la edición September 2022 de The Machinist.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
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