India’s electric vehicle ambitions could stumble on lack of Lithium
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
FRIDAY, MAY 27, 2022
FRIDAY, MAY 27, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
India’s electric vehicle ambitions could stumble on lack of Lithium

Global Economy

LiveMint
21 January, 2020, 01:45 pm
Last modified: 21 January, 2020, 03:16 pm

Related News

  • Toyota rolls out first battery electric car in cautious debut as rivals go full-throttle
  • Carmakers dream of clean, green, mean electric machines
  • Tata Nexon EV to get electric range of 400 km
  • Reliance buys assets of battery maker Lithium Werks in clean energy, transport push
  • Sony, Honda team up to develop and sell electric vehicles

India’s electric vehicle ambitions could stumble on lack of Lithium

Several plans are underway to build lithium-ion battery factories in India

LiveMint
21 January, 2020, 01:45 pm
Last modified: 21 January, 2020, 03:16 pm
Representational Image. Photo: Collected
Representational Image. Photo: Collected

India's ambition of becoming a global hub for making electric vehicles faces one major hurdle: its lack of access to lithium.

Home to some of the most polluted cities on the planet, the South Asian nation is pivoting toward new-energy vehicles to clean up its toxic air. But with meagre resources of lithium, the mineral essential to make batteries for electric vehicles, it is having to scour for resources overseas.

India's EV production will rely on imports from China of lithium chemicals used to make cathodes and battery cells, according to Jasmeet Singh Kalsi, director at Manikaran Power Ltd., which is exploring setting up India's first lithium refinery. "China has a thriving lithium chemical, battery cathode, battery cell and EV supply chain. India has none."

Prime Minister Narendra Modi's administration unveiled a slew of measures in 2019 to promote the clean-energy vehicles, including a $1.4 billion plan to make India a manufacturing hub for EVs and cutting taxes to spur purchases. While electric cars in India remain a small segment, with an estimated 3,000 sold in 2018 compared with the 3.4 million fossil fuel-powered cars in the same year, the nation is forecast become the fourth-largest market for EVs by 2040, when the segment will comprise nearly a third of all vehicles sales, according to BloombergNEF.

Import Reliance

Several plans are underway to build lithium-ion battery factories in India. Meanwhile, China -- the largest electric vehicle market in the world -- is dominant in the battery supply chain. Around three-quarters of battery cell manufacturing capacity is in China, and Chinese companies have unparalleled control of required domestic and foreign battery raw materials and processing facilities, according to BNEF.

"Indian companies have been involved in trying to prospect for stakes in overseas resources, and possibly on-shoring more raw materials production capacity in India," said Sophie Lu, head of metals and mining for BloombergNEF. "But there are very little synergies right now because further up the value chain, battery components manufacturing capacity does not seem to be planned extensively for India."

A joint venture called Khanij Bidesh India Ltd. has been formed between three state-run companies -- National Aluminium Co., Hindustan Copper Ltd. and Mineral Exploration Corp. -- to acquire lithium and cobalt mines overseas. Amara Raja Batteries Ltd., the country's second-biggest traditional battery maker by value, will build a lithium-ion assembly plant, while Suzuki Motor Corp. along with Toshiba Corp. and Denso Corp. is setting up a lithium-ion battery manufacturing plant.

Manikaran signed an agreement with Australia's Neometals in June to jointly fund the evaluation of developing a lithium refinery in India with a capacity of 10,000 tons to 15,000 tons of the finished product. That capacity falls short of India's projected requirement of 200,000 tons of lithium hydroxide by 2030, Kalsi said.

Electric vehicles are "slowly going to take off, not with the speed the government perceives it to be, but going ahead the market is going to get pretty huge," he said.

World+Biz

electric cars / lithium-ion battery / electric vehicles / lithium

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Dr Zahid Hussain. Illustration: TBS
    The economics of remittance subsidy
  • Australian Prime Minister Anthony Albanese, U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida, and Indian Prime Minister Narendra Modi pose for a photo in Tokyo on May 24. ZHANG XIAOYOU - POOL/GETTY IMAGES/Foreign Policy
    The Quad looks west
  • India likely to export around 6 lakh tonnes of wheat to Bangladesh
    India likely to export around 6 lakh tonnes of wheat to Bangladesh

MOST VIEWED

  • U.S. one dollar banknotes are seen in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
    US Treasury pushes Russia towards default: What next?
  • The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina
    G7 calls on OPEC to play key role to ease global energy supplies
  • A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson
    Oil on track for weekly rise on global supply concerns
  • A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. Photo :Reuters
    G20 pandemic fund ploughs ahead amid fears world not ready for future threats
  • A Russian rouble banknote is placed on euro banknotes in this illustration taken March 1, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
    Russian central bank allows share purchases in companies from 'friendly' countries
  • Shoppers browse in a supermarket while wearing masks to help slow the spread of coronavirus disease (Covid-19) in north St. Louis, Missouri, US April 4, 2020. REUTERS/Lawrence Bryant/File Photo
    US consumer spending beats expectations in April; inflation likely peaked

Related News

  • Toyota rolls out first battery electric car in cautious debut as rivals go full-throttle
  • Carmakers dream of clean, green, mean electric machines
  • Tata Nexon EV to get electric range of 400 km
  • Reliance buys assets of battery maker Lithium Werks in clean energy, transport push
  • Sony, Honda team up to develop and sell electric vehicles

Features

The taboo of dining out alone

The taboo of dining out alone

9h | Food
The perfect time for newborn photography is between the first five and 14 days when a baby’s bones are the most malleable for posing. Photo: Courtesy

Is there a market for newborn photography in the country? Studio Picturerific says yes

9h | Panorama
Pakistan finds itself in political turmoil again as Imran Khan pushes for immediate general elections. Photo: Reuters

Supreme Court of Pakistan: Now a candle in the dark

10h | Analysis
Indulge in Momium’s guilt-free dips and spreads

Indulge in Momium’s guilt-free dips and spreads

10h | Food

More Videos from TBS

Fear of food crisis sets across the globe

Fear of food crisis sets across the globe

4h | Videos
Is Mushfiq refraining from self-destructive shots?

Is Mushfiq refraining from self-destructive shots?

5h | Videos
Kanak is ahead of everyone in Guinness Book

Kanak is ahead of everyone in Guinness Book

10h | Videos
What should your CV cover letter look like?

What should your CV cover letter look like?

11h | Videos

Most Read

1
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

2
Bangladesh at risk of losing ownership of Banglar Samriddhi
Bangladesh

Bangladesh at risk of losing ownership of Banglar Samriddhi

3
Corporates go cashless…tax cut on cards
NBR

Corporates go cashless…tax cut on cards

4
Photo: Courtesy
Panorama

Misfit Technologies: A Singaporean startup rooted firmly in Bangladesh

5
BSEC launches probe against Abul Khayer Hero and allies
Stocks

BSEC launches probe against Abul Khayer Hero and allies

6
Illustration: TBS
Banking

Let taka slide

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab