India has an ambition of becoming an all-EV nation by 2030. In the process toward mass adoption of EVs, the Indian government has announced a plan to introduce 50,000 electric rickshaws and 10,000 electric buses in the upcoming years. Environmental issues and the expected reduction of fuelled vehicles shortly also attract electric vehicle manufacturers.
As the Auto industry is booming towards EVs, Lithium-ion Battery Manufacturers also getting the boon. the demand for Lithium-ion Battery Manufacturers is also increasing.
By 2040, more than half of all new car sales in the world and a third of the planet’s automobiles will be EVs. thus, the demand for Lithium-ion batteries is increasing. As, Amara Raja Batteries Ltd, India’s second-biggest traditional battery maker by value, will build a lithium-ion Battery assembly plant as it seeks to grab a slice of the market for the electric Vehicle market.
Also, Amara Raja Batteries Ltd produces the highest number and is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications.
Light, safe and low-density electric vehicles provide a clear advantage to the vehicle engineer. Therefore, the consumption of lithium-ion batteries is expected to increase as they are the most expensive components of electric vehicles. Li-ion batteries account for 40-50% of EVs’ cost “batteries account for close to 40-50 percent of the cost of the vehicle.” Let’s look at the top players of Lithium-Ion Battery Manufacturers in India.
Top 4 Lithium-ion Battery Manufacturers in India
Here is the list of Top 4 Lithium-Ion Battery Manufacturers in India. And Exide Industries is the top among the list-
- Exide Industries
- Amara Raja Batteries Ltd.
- HBL Power Systems
- Lithium-Ion Battery Gujarat Private Limited
Exide Industries are one of the leading and reputed names in India. They are the largest exporter and manufacturer of batteries. They manufacture high-quality and rechargeable batteries at affordable prices. Exide also produces Lithium-Ion Batteries that have high energy storage capacity per unit volume.
It has already started selling e-rickshaws– Exide Neo, which uses Exide customized Li-ion Battery. They have a total of 9 factories strategically located all over the country. It even has more than 150 warehouses and sales offices.
Amara Raja Batteries Ltd.
Amara Raja Batteries Limited is among the largest manufacturers Lithium-Ion Batteries in India for industrial and automotive applications in the Indian storage battery industry. The company exports Industrial and Automotive batteries to 32 countries across the globe.
They are planning to execute their plan to build a Lithium-ion construction plan in Andhra Pradesh to grip a significant share in the market of electric batteries. the Electric Vehicle power packs Are set to grow to $300 billion by 2030 and The company’s primary aim is to reach 100 billion entities until the next 2–3 years.
HBL Power Systems
HBL Power Systems has initiated its plants for the manufacturing of prismatic lithium-ion cells and batteries. Backed with its strong domain experience of research, design, and development of battery technologies, HBL provides effective, affordable vehicle electrification solutions using Lithium-Ion Batteries.
HBL inducted a plant to produce chromatic Lithium-Ion cells and batteries. HBL’s share price has surged by 235% since April 2020.
Lithium-Ion Battery Gujarat Private Limited (TDSG)
TDSG is India’s first Lithium-ion battery manufacturing plant in Gujarat which is set up jointly between TOSHIBA Corporation, DENSO Corporation, and Suzuki Motor Corporation. They plan to manufacture and supply Lithium-Ion Batteries to Maruti Suzuki and Suzuki Motor in Gujarat. The joint venture companies will be investing close to INR 30K-50K Cr over eight years.
The TDSG plant will be set up in Hansalpur, Gujarat, and is said to be the world’s largest lithium-ion battery manufacturing unit. The Unit is considered an attempt to enter a huge potential market emerging in India. The upcoming Maruti Wagon R-based electric vehicle will feature lithium-ion batteries which will be sourced from TDSG.
Final and not in the list – Mumbai JSW Energy
Mumbai-based JSW Energy is all set to launch EVs soon. For this project, the company has plans to set up a huge battery factory unit. In 2019, Bharat Heavy Electricals Ltd. announced that it would manufacture and sell ISRO’s lithium-ion cells in India.
Tata Chemicals Ltd is planning to launch a manufacturing facility for Li-ion cells in Gujarat. Reports state that prominent business groups such as Reliance, Adani, Mahindra, and Hero are also in the competition to set up Lithium-ion battery production units in India. Thus, we can clearly see that India will soon reduce all imports of this essential EV component.
Lithium-ion cells are considered the heart of electric vehicles. Although most Indian EV manufacturers import cells and batteries from China, the world’s largest producer of lithium-ion cells. India is predicted to dominate the market. We have only mentioned the top companies that fall under the list of India’s Largest Lithium-Ion Battery Manufacturers.
The most crucial factor is that EVs could create a $300 billion domestic battery market by 2030. Do keep a close watch on the Lithium-Ion Battery Manufacturers in India. Will they be able to deliver on their promise and ensure an adequate supply of batteries for the EV sector? Let’s wait and watch.