How India’s New Battery Plan Will Accelerate EV Adoption

How India's New Battery Plan Will Accelerate EV Adoption

Policy
The demand for electric vehicles (EVs) is rapidly increasing in India, driving a surge in the need for batteries and their components. With a focus on clean energy and the goal of achieving net-zero carbon emissions, the government is working on a new scheme to promote domestic production of battery components. This initiative aims to make the country self-reliant in battery manufacturing while creating attractive opportunities for investors.

Let's explore what this new scheme is about and what it means for investors.
What's Happening?

The Indian government is working on a new scheme to boost domestic manufacturing of battery components. The Ministry of Heavy Industries (MHI) is preparing a concept note for this scheme, which will focus on garnering support from policymakers. Key components of batteries include anodes, cathodes, electrolytes, copper, and aluminium foils. According to an industry report by the OMI Foundation, cathodes and anodes