India is committed to its net-zero goals by 2070, and the decarbonisation of the transport sector through vehicular electrification is a major cornerstone.
Evidently, this is expected to increase the demand for batteries in future. Among the available battery technologies, lithium-ion batteries (LIBs) are most suitable for electric vehicles (EVs). EVs are mainly powered by lithium nickel manganese cobalt oxide (NMC) and lithium iron phosphate (LFP) battery chemistries.
By 2050, the LIB demand is expected to grow by 4950–5300 GWh and750–800 GWh for EVs and stationary applications, respectively.
A critical question at this juncture is whether the supply of materials usedin LIBs can keep up with this booming demand.
To achieve net-zero targets, recycling of battery materials will help infilling the supply–demand gap of critical raw materials, for which India is significantly dependent on imports.
