India EV Battery Market Top Key Players - Tata Chemicals, Exide, Amara Raja, Panasonic, CATL, Ip power

The India EV battery market size was estimated at $XXB, growing at XX% CAGR till 2026. 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 used in the electric scooter is 11.5 kWh, with an estimated range of 5060 km. Electric tricycle battery usage is also in the same country. For electric vehicles, 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 offers an incentive of Rs 150 per KwH for electric vehicles using lithium-ion batteries nationwide. In 2021, a production collaboration incentive (PLI) program was launched to manufacture Rs 18,100 crore advanced chemical battery (ACC) batteries. This is done to attract foreign investment to develop domestic battery manufacturing to 50GWh per year.

• The investment of Rs 18,100 crore aims to raise a total Rs 45,000 crore investment mainly for the development of the manufacture of lithium-ion batteries for electric vehicles and consumer goods. As an incentive to improve battery technology, the amount will increase in response to higher specific energy densities and cycles and improved local added value. Each selected ACC battery storage company must promise to install an ACC manufacturing facility with at least 5 GWh capacity and achieve at least 60% domestic added value at the project level within 5 years.

• More than 60% of electric vehicles sold today use lead-acid batteries. The main reason is that they are much cheaper than lithium-ion batteries. The battery used has a low power density, and there is no fast charging option, but the initial investment is high, so there is no concern for current users.

INDIA EV BATTERY MARKET SEGMENTATION

By Vehicle type
• Passenger
• Commercial

By Battery Size
• 40 kwh

BY Sub Components
• Battery management
• Cells
• Battery Cooling System

COMPETITIVE LANDSCAPE

• Lead-acid batteries in the Indian market account for more than 70% of the market share of Amaron and Exide combined. For the maturity of technology and the development of connectivity with OEMs, well-developed supply chains and manufacturing facilities across the country.

• For lithium-ion batteries, OEMs rely on Chinese manufacturers for battery cells and packs as a whole. Tata Autocomp has signed a JV with Guoxuan HiTech to make battery packs for electric vehicles in Pune, India. Toshiba, Denso and Suzuki have set up a joint venture to develop lithium-ion batteries. Exide is working with Leclanche SA for the production of Li-ion batteries. The joint venture name is Nexcharge.

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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This release was published on openPR.