Lithium-ion Battery Manufacturing in India

Lithium-ion Battery Manufacturing in India

Date of Release- June 2024

The lithium-ion battery manufacturing sector is experiencing significant growth, presenting opportunities for localization within India’s battery supply chain. Key industry players are stepping up to establish lithium-ion Gigafactories in India to meet the escalating demand. This report offers a comprehensive overview of India’s lithium-ion battery manufacturing landscape, encompassing the country’s current status across the battery manufacturing supply chain, market potential, policy overview, investment trends, risks and challenges, and key players.

Table of Content

  1. Global Battery Manufacturing Landscape
    • Overview
    • Global Demand for Lithium-ion batteries
    • Lithium-ion Battery Manufacturing supply chain
    • Lithium-ion Battery Manufacturing Landscape in China
  2. Domestic Market Overview
    • Current status of Demand
    • Lithium-ion Battery Demand Forecast
  3. Lithium-ion Battery Manufacturing Supply Chain Fundamentals
    • Overview
    • Critical Raw Material – Domestic and Global Reserves
    • Dependency on imports for critical raw materials
    • Current Status of Critical Raw Material Processing in India
  4. Lithium-ion Battery Manufacturing Landscape in India
    • Evolution of Lithium-ion cell Chemistries
    • Lithium-ion cell Manufacturing- Existing and Proposed Capacities
    • Imports of Lithium-ion cellsLithium-ion Battery Pack Manufacturing
    • Upcoming Lithium-ion Battery Gigafactories in India
  5. Key Players
    • Key Players across the supply chain
    • Key factors for players to decide on investment and set up a manufacturing facility
    • Player-wise Investments in Battery Manufacturing in India
  6. Cost of Lithium-ion Battery
    • Price trend of Lithium-ion Battery
    • Cost of battery packs across the globe
    • Cell Cost Breakdown and Localization Potential
    • Cost for setting up a Lithium-ion battery manufacturing plant in India
    • Development of Indigenous supply chain
  7. Market Potential in Battery Manufacturing
    • LIB-based EV & Stationary Storage Market in India
    • Market Attractiveness Index
  8. Policies and Regulations
    • Production Linked Incentive Scheme for Advanced Chemistry Cell (PLI-ACC)
    • Inter-State Transmission Waivers for ESS Projects
    • Energy Storage Obligation Trajectory
    • National Energy Storage System Policy
    • Viability Gap Fund for Battery Energy Storage Systems
    • GST and BCD on Lithium-ion Batteries
    • State-level Policies & Regulations for Lithium-ion Batteries Manufacturing
    • Adoption of ESS in various States
  9. Key Challenges
  10. Player Profiles (Company Overview, Planned Manufacturing capacity, Investments and Partnerships)
    • Ola Electric
    • Log9
    • Amara Raja
    • Battrixx
    • Trontek
    • Exide Energy
    • CLN Energy

List of Figures

Figure 1: Lithium Battery Demand across sectors (2019-2023)

Figure 2: Battery Demand in E- mobility sector across the globe (2016-2023)

Figure 3: Battery Manufacturing Supply chain across the globe in 2023

Figure 4: Lithium-ion Battery Manufacturing Capacity in China(2022-2030e)

Figure 5: Lithium-ion battery production and exports by China(2019-2023)

Figure 6: Installed Capacity and Market Share of Leading Manufacturers in FY2023

Figure 7: Current Demand of Lithium-ion Battery in India

Figure 8: Lithium-ion Battery Demand Forecast Across Sectors (FY2025-FY2030)

Figure 9: Demand of Lithium-ion battery in E-mobility sector across segments (FY2024-FY2030)

Figure 10: Demand of Lithium-ion battery for BESS (2024-2030)

Figure 11: Battery Manufacturing Supply Chain (Current Status and Future Plans)

Figure 12: Localisation Potential of Lithium-ion Battery

Figure 13: Generic Composition of Lithium-ion Battery Pack

Figure 14: Lithium Reserves across the globe

Figure 15: Critical Raw Material Reserves and Production in India

Figure 16: Imports of key raw material (US Million Dollars)

Figure 17: India’s Battery Chemistry Evolution (Speculative Outlook)

Figure 18: Existing and Proposed Lithium-ion cell Production Capacity

Figure 19: Li-ion Import Trends (in US$ million)

Figure 20: Actual annual production of key battery pack manufacturers (CY 2023)

Figure 21: Investments by key players in battery manufacturing space

Figure 22: Lithium-ion Battery Price trend (2017-2030)

Figure 23: Cathode Active material prices (Comparison of LFP and NMC Cathode material)

Figure 24: Battery pack Prices across countries (2023)

Figure 25: Cost of LFP and NMC Battery Components

Figure 26: Lithium-ion Battery manufacturing plant cost

Figure 27: Estimated Market Potential of Lithium-ion Batteries (FY2025-FY2030)

Figure 28: PLI capacity Allocation

Figure 29: Waivers Trajectory for Solar/Wind/BESS/PSP

Figure 30: Energy Storage Obligation Trajectory

Figure 31: Tariffs (GST & BCD/Import tariff)- 2023

Figure 32: Adoption of ESS in India

Figure 33: Ola Electric – Existing and Upcoming Capacity of Battery Manufacturing facility

Figure 34: Ola Electric – Percentage Share of different segments in setting up Lithium-ion cell facility

Figure 35: Ola Electric – Set Up Cost of Manufacturing facility and PLI incentives per GWh

Figure 36: Ola Electric – Financials (Revenue and Profit/Loss)

Figure 37: Ola Electric – Investments and Deals

Figure 38: Log9 – Existing and Upcoming Capacity of Battery Manufacturing facility

Figure 39: Log9 – Investments and Deals

Figure 40: Amara Raja – Existing and Upcoming Capacity of Lithium-ion cell/Battery pack Manufacturing facility

Figure 41: Amara Raja-Financials (Revenue and Profit/Loss) 

Figure 42: Battrixx- Existing and Upcoming Capacity of Lithium-ion cell/Battery pack Manufacturing facility

Figure 43: Battrixx – Revenues

Figure 44: Trontek- Existing and Upcoming Capacity of Lithium-ion cell/Battery pack Manufacturing facility

Figure 45: Exide Energy – Existing and Upcoming Capacity of Lithium-ion cell/Battery pack Manufacturing facility

Figure 46: Exide Energy – Financials (Revenue and Profit/Loss) 

Figure 47: CLN Energy – Existing and Upcoming Capacity of Lithium-ion cell/Battery pack Manufacturing facility

Price: INR 2 lacs+18% GST (USD 2500)

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JMK Research & Analytics is a specialist research and consulting firm focussing on various cleantech segments in India and the Asia Pacific markets including, Renewables, E-mobility, Energy Storage (ESS) and Green Hydrogen.

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