India EV Battery Market Tata Chemicals, Exide, Amara Raja, Panasonic, CATL, Ip power

The EV battery market size in India was estimated at $XXB, growing at XX% CAGR till 2026. Charging stations have been allocated for states across the country with Rs. 10,000 Crore for a period of 3 years commencing from 1st April 2019 under the FAME scheme.The FAME scheme aims to generate demand by way of supporting 7000 e-Buses, 5 lakh e-3 Wheelers, 55000 e-4 Wheeler Passenger Cars (including Strong Hybrid) and 10 lakh e-2 Wheelers.

The average battery utilised in an electric scooter is 1-1.5 kWh with an expected range of 50-60 kms. The battery utilisation for electric three wheeler is the country is also similar. For electric cars the average battery capacity is 30-35 kWh. Tata, Mahindra and MG were the main competitors in this segment.

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INDIA EV BATTERY MARKET DYNAMICS

FAME 2 incentivises Rs 150 per KwH for electric vehicles using Li ion batteries across the country. In 2021, the Production Linked Incentive (PLI) scheme for manufacturing advanced chemistry cell (ACC) batteries at Rs 18,100 crore was initiated. This is done to attract foreign investments to develop battery manufacturing in the country to 50 GWh yearly.

Currently more than 60% of the electric vehicles sold utilise Lead Acid battery. The main reason is that it is much cheaper than a Li ion battery. The batteries utilised have lower power density and don’t have the option of fast charging but is not of concern at the moment to the user due to the higher initial investment.

INDIA EV BATTERY MARKET SEGMENTATION

By Vehicle Type
• Passenger
• Commercial

By Battery Size
• 40 kwh

By Sub Components
• Battery Management System
• Cells
• Battery Cooling System

COMPETITIVE LANDSCAPE
For Lead acid battery in the Indian market, Amaron and Exide are the market leaders holding more than 70% of the market share combined. The technological maturity as well as the development of connections with OEMs, well developed supply chain and manufacturing establishments across the country

For Li ion battery, the OEMs rely on Chinese manufacturers for battery cells as well as packs as a whole. Tata Autocomp signs a JV with Guoxuan Hi-Tech, to make battery packs for EVs in Pune, India. Toshiba, Denso, and Suzuki have set up a joint venture to develop Li ion batteries. Exide is collaborating with Leclanche SA for Li ion battery production. The joint venture will be called Nexcharge.

Epsilon Advanced Materials has set up a manufacturing plant for components of Li ion batteries with an investment of $807 Million. Ipower batteries based out of Harayana, currently supplies battery packs to 100 OEMs. Gravita India is a firm mainly recycling lead acid batteries who are now focusing on recycling Li ion batteries.

Amperex Technological is planning to set up manufacturing unit in Haryana for Lithium Ion battery manufacturing. Tata chemicals is investing in battery components, Li ion cells as well as recycling of batteries in Gujrat with an initial investment of Rs 800 Cr.Li energy, Amara Raja, and Manikaran Power are other firms who have stepped into Li ion battery production in India

COMPANY PROFILES
Tata Chemicals
Exide
Amara Raja
Panasonic
CATL
Ip power

Read More Information: https://mobilityforesights.com/product/india-ev-battery-market/

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