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What are the challenges India faces in becoming a dominant player in the EV battery market?

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As per expert reports, India faces several challenges to becoming a dominant player in the EV battery market.

  1. In India, currently, the domestic manufacturing of EV batteries is limited and heavily dependent on imported batteries to power electric vehicles (EVs). It was costly, and the supply chain was also susceptible to disruptions. Promoting domestic battery manufacturing capacity determined by the government is an essential move for India to attain energy security and reduce its carbon footprint.
  2. Raw materials, especially lithium, are rare materials in India to be found and used for export; hence, India is heavily dependent on importing EV batteries, which is a significant barrier for businesses to engage in the country’s EV market.
  3. An environmental threat is also one of the major challenges posed by battery waste. Collection and investment are risks, as stated by recycling companies.
  4. In India, EV battery manufacturing is largely dependent on imports due to the scarcity of lithium-ion batteries, which poses a challenge for Indian OEMs.
  5. A significant factor is the cost of EV batteries, which makes it difficult to afford the availability of electric vehicles. EV batteries are currently relatively expensive, and Indian manufacturers are struggling to produce batteries at competitive prices. Cost-effective battery technologies and scaling up production capacities are important to achieve cost competitiveness.
  6. The EV battery market is competitive with rapid technological advancements. Huge investments are needed in research and development to keep pace with advancements and develop cutting-edge battery technologies. Collaboration seems to be an ideal way to foster innovation and technological breakthroughs.
  7. EV adoption also requires a robust charging infrastructure network for supporting long-distance travel and addressing range anxiety. A considerable investment is needed in widespread charging infrastructure, such as both public and private charging stations, to encourage EV adoption.
  8. Developing the right skills and workforce training in designing, manufacturing, and maintaining advanced battery technologies is essential. India also needs to focus on skill development programs and training initiatives to bridge the gap in technical expertise and build a competent workforce for the EV battery industry.

India’s ambitious goal of achieving 30% EV penetration by 2030 needs to be supported by significant investments in EV manufacturing and supply chain development to fully realize the potential of the EV industry. Investing in research and development, innovation promotion, collaboration, and other supporting policies and incentives is the major key to overcoming the challenges India faces in becoming a dominant player in the EV battery market.

Source: Financial Express, times of India, scroll, Manufacturing Today

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