The rising adoption of EVs, increasing renewable energy installations, and the need for energy storage solutions have significantly contributed to the creation of a vast market for batteries in India. According to a study the EV battery demand in India is expected to reach 15 GWh by 2025 and 60 GWh by 2030.
However, meeting this demand will be no less than a challenge, given India is largely dependent on foreign countries such as China for raw materials and EV components. With the growing demand for EVs in the country, it is the need of the hour to look into domestic manufacturing of batteries including li-ion and other chemistries.
“THERE IS A MUCH NEED FOR ECO-FRIENDLY, SUSTAINABLE RECYCLING TECHNOLOGIES”
How Is the market evolving for Battery recycling in India?
The battery recycling market in India has started to pick up pace now, just as the electric mobility space has over the past few years. There is a clear shift of focus to fight climate change, especially with the electrification of mobility and transitioning to renewable energy sources, which requires energy storage solutions at a large scale. As these markets expand, the lithium-ion batteries at the end of their life cycles will eventually be required to be recycled, slated to be a massive $30 billion market by the end of the decade.
What kind of demand are you receiving for Battery Swapping & Recycling?
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