What role will electric vehicles play in India's battery demand?

Electric vehicles are expected to account for approximately 74-77% of India's total battery demand by 2047.

What are the key components needed for India's battery ecosystem according to the report?

The report suggests that to realize the Viksit Bharat vision, India must develop a complete ecosystem that includes raw materials, components, and recycling.

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India's Battery Demand to Skyrocket by 2040s

Q: What is the projected demand for Advanced Chemistry Cell (ACC) batteries in India by the mid-2040s?

India's demand for ACC batteries is projected to exceed 700 GWh by the mid-2040s, a significant increase from 28 GWh in 2025.

5 Feb

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Summary

India's battery demand projected to exceed 700 GWh by mid-2040s.
EVs will account for approximately 77% of battery demand by 2047.
India aims for domestic battery manufacturing and a complete ecosystem.

India's Battery Demand to Skyrocket by 2040s

India's demand for Advanced Chemistry Cell (ACC) batteries is poised for dramatic expansion, with projections indicating a rise from 28 GWh in 2025 to over 700 GWh by the mid-2040s. This significant growth is crucial for India's electric mobility transition and achieving its climate commitments under the Viksit Bharat Vision 2047.

By 2047, total battery demand could range between 1.3 TWh and 1.9 TWh. Electric vehicles are forecast to constitute approximately 74-77% of this demand by 2047, fueled by a market expected to grow at a CAGR exceeding 30% through 2035. Stationary energy storage will also accelerate post-2030.