According to the micro lithium team, in this area of electric vehicle battery manufacturing, China's production volume occupies more than half, but with the escalation of the trade war between China and the United States, China-made lithium-ion batteries have been imposed a 15% tax by the United States, while the vast majority of electric vehicle batteries are lithium-ion batteries. This has to some extent accelerated the transfer of battery factories abroad, but also in favor of "Made in India".
India is now almost all lithium-ion batteries are imported. Most of the country's work on lithium-ion batteries is still focused on research and development, mainly focused on the central government level. Meanwhile, in the private sector, companies mainly use lithium-ion batteries imported from China to make battery modules.
Gupta, a secretary at NITI Aayog, an Indian government think tank, announced that New Delhi is currently finalizing a new national energy policy. "The new energy policy will address issues of accessibility and affordability, energy security ...... and overall demand for energy," Gupta said at a recent conference on energy storage. "The focus will be on electric vehicle batteries made in India, as well as a number of demand creation policies and measures to stimulate investment."
Earlier this year, India had approved a three-year, approximately $1.4 billion subsidy program for electric and hybrid vehicles, but the program was aimed at new energy vehicles rather than batteries or energy storage. Now, some hope that in the short term, India will introduce a new policy to encourage domestic battery manufacturers. Gupta said, "We estimate that total energy demand can be reduced by 20 percent if appropriate policies and solutions are put in place to improve energy efficiency." Meanwhile, Panasonic India also stressed the need for a battery manufacturing ecosystem.
With India's focus on renewable energy and power mobility, energy storage solutions will play a key role in the industry. Given the increasing demand and competitiveness of renewable energy generation solutions, power storage will play a key role in the next phase of the energy transition, making it important to create an ecosystem that promotes battery manufacturing.
