India's Potential in the Midstream of Battery Production
Strategies to create a globally competitive EV ecosystem in India
In India, transportation currently accounts for 14% of greenhouse gas emissions. With over 300 million vehicles currently on the road and 200 more million to be added in the next two decades, India faces a massive challenge to electrify its road vehicles and reach its goal of net-zero by 2070. However, this challenge also provides India with a tremendous opportunity. As the 4th largest producer of automobiles, the transition to EVs provides a huge economic opportunity if India localizes EV and battery manufacturing.
India could become a hub for EV manufacturing and recycling with the right incentives and government policies that can meet strong domestic demand for EVs and take advantage of the growing manufacturing sector. India can immediately become a vital segment of the battery supply chain by producing battery cells and expanding mineral processing. This report summarizes consultations with over 25 companies and actors to determine what factors are crucial in the considerations of companies on where to invest in and expand manufacturing.
This report gives an overview of India’s targets and current state of play and then discusses battery supply chain fundamentals that need to be critically assessed to understand where India has the strongest comparative advantage. It closes by outlining key companies’ decision-making factors and assesses India’s potential comparative advantage against each factor.
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