The article presents a brief analysis of existing plans and policies that are set to benefit Lithium-Ion battery manufacturers in India; while also assessing the way forward for the Electric Vehicle sector.
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The Lithium-Ion Battery (LIB) industry segment is expected to play a vital role in giving impetus to an electrified transport sector in India. Reports suggest that the country is set to achieve 100% electrification of the public transport sector and 40% electrification of the private transport sector by the year 2030. Is this target truly achievable or is it a lofty goal to reach?
Industry representatives highlight that the electrical sector in India is largely unorganised, and this can make achieving targets a challenge. From the perspective of a Lithium- Ion battery manufacturer in India, Gagan Kaur, Executive Director, Future Hi-Tech Batteries Limited, provides us with key insights. She says: “It is a good thing that we have such targets, but from the raw material standpoint, India imports much of the raw materials required to build or manufacture lithium battery packs. This makes the formation and the implementation of plans and policies crucial to the development of the sector.” Also, other components that are a part of the ecosystem, such as the availability of charging mechanisms and the infrastructure needed to support the growth target will need to be looked at.
Make in India’ and its relevance to the Lithium-Ion industry
The NITI Aayog is a policy think tank of the Government of India, established to achieve sustainable development goals to enable policy-making. Shri Anil Srivastava, Advisor, NITI Aayog, made a strong statement on the document that reads – India’s Energy Storage, A Make-in-India Opportunity for Globally Competitive Battery Manufacturing. He said:
“Domestic manufacturing of Lithium-ion batteries, currently an electric vehicle’s most expensive component, presents an enormous economic opportunity for India. Making batteries for electric vehicles in India can support automakers’ efforts to produce an attractive fleet of clean vehicles at prices that Indian consumers can afford. India can become a net exporter of batteries, thereby enabling other countries’ transitions to electric mobility and renewable energy, and I look forward to seeing how government and business leaders can collaboratively build a new economic engine for India.”
Projects under the ‘Make in India’ initiative within the scope of Lithium-Ion such as the discovery of Lithium reserves in the state of Madhya Pradesh and other parts of India is set to benefit the Indian Lithium-Ion manufacturing industry. Also, initiatives, such as the MoU with Bolivia and other countries to support the supply of Lithium Carbonate to India will give impetus to trade while enhancing Lithium Battery pack production in the country. The government is accurate in the way they offer subsidies and PLIs, but industry representatives assert that the industry needs to move in a direction where it is less dependent on imports for basic raw materials for components like PCBs (protection circuit module or board). Broadly speaking, Kaur says that we are to see certain but steady progress. She says: “For now, Future Hi-Tech Batteries Limited is making its way into the Electric Vehicle segment, and has been taking positive strides in this domain.”
Future Hi-Tech Batteries Limited works with established brands – to name a few – Crompton, Bajaj and more. And, now with the company moving into the Electric Vehicle segment, it is confident to make positive strides in this respect. With robust in-house manufacturing, testing and Research and Development facilities, Future Hi-Tech Batteries Limited’s forte is to serve its clients with storage solutions that are customizable as per requirement. The company offers a range of solutions from electric vehicle battery packs, Lithium-Ion batteries, e-rickshaw batteries, e-scooter batteries, e-cycle batteries and even batteries for electric cars or vehicles in addition to other Lithium-Ion battery storage systems.
To learn more, or If you’d like to connect with a representative from Future Hi-Tech Batteries Limited, click here.
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