India Lithium-ion Battery Market By Type (Lithium cobalt oxide (LCO), Lithium iron phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate (LTO), Lithium Nickel Manganese Cobalt (LMC)), By Capacity (0-3,000 mAh, 3,000-10,000 mAh, 10,000-60,000 mAh, 60,000 mAh and above), By Vertical (Consumer Electronics, Automotive, Aerospace, Marine, Medical,

India Lithium-ion Battery Market

India has seen a significant growth in the production of lithium-ion batteries in recent years, with several domestic manufacturers entering the market. In addition, the government of India has implemented several initiatives to promote the production and use of lithium-ion batteries in the country.

Increasing adoption of electric vehicles

Electric vehicles (EVs) are becoming increasingly popular in India, driven by the country's efforts to reduce air pollution and greenhouse gas emissions. The Indian government has set a target of achieving 30% electric vehicle penetration by 2030, which has led to several initiatives to promote the adoption of EVs in the country.

In 2015, the government launched the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) scheme to provide financial incentives for the adoption of EVs and their associated components, including lithium-ion batteries. Under this scheme, the government has implemented several measures to support the development of EV charging infrastructure across the country.

In addition, several Indian automakers have launched EV models in recent years, including the Tata Nexon EV, Mahindra e-Verito, and the MG ZS EV. These models have gained popularity in the Indian market, and their sales are expected to grow in the coming years.

Furthermore, the Indian government has launched the National Electric Mobility Mission Plan (NEMMP) in 2013, which aims to promote the adoption of electric vehicles and associated infrastructure in the country. The plan includes the deployment of electric buses, two-wheelers, and three-wheelers in various cities across India.

Ola Electric, an Ola Cabs subsidiary, plans to establish a cell manufacturing facility for its lithium-Ion battery by March 2021. This battery will be used in Ola's soon-to-be-released two-wheeler electric vehicles. Additionally, in Pune, the French manufacturer of battery systems Forsee Power began mass-producing lithium-ion batteries for electric two-wheelers (E2W) and electric three-wheelers (E3W) in June 2021. Forsee Power, a French manufacturer of battery systems, began mass-producing lithium-ion batteries for electric two-wheelers (E2W) and electric three-wheelers (E3W) in Pune in June 2021. The battery manufacturing plant has assembly lines, laboratories, and testing capabilities.

As a result of the foregoing, India's plan to increase the adoption of electric vehicles is expected to propel the country's lithium-ion battery market.

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India

Market Players

India Lithium-ion Battery Market Recent Developments

• In January 2022, Tata Chemicals announced that it has developed a new type of lithium-ion battery that is more efficient and safer than existing batteries. The company has filed a patent for the new technology for applications in electric vehicles, renewable energy storage, and other areas.
• In October 2021, BHEL signed an agreement with Convergence Energy Services Limited (CESL) to jointly develop and manufacture lithium-ion batteries for various applications, including electric vehicles. The collaboration leverage BHEL's expertise in manufacturing and CESL's experience in energy storage and electric mobility.
• In September 2021, Exide Industries entered a joint venture with Leclanché, a leading provider of energy storage solutions. The joint venture, called Exide Leclanché Energy Private Limited, is focused on the development and manufacturing of lithium-ion batteries for electric vehicles and energy storage.
• In August 2021, Amara Raja Batteries received a grant from the Department of Science and Technology to develop lithium-ion batteries with improved performance and safety. The company would collaborate with the Indian Institute of Technology (IIT) Delhi to develop the new batteries.

Overall, there are a lot of activities in the Indian Lithium-ion Battery Market, with several companies investing in R&D and forming partnerships to develop new technologies and products. The Indian government's push towards electric mobility and renewable energy is driving demand for these batteries, which is likely to spur innovation and development in the sector.