India's commitment to the EV30@30 initiative that targets at least30% of vehicle sales to be electric by 2030 translates into adding24 million two-wheelers, 2.9 million three-wheelers, and 5.4 million four-wheelers to its EV fleet by 2035. To meet this demand and reduce its reliance on global EV-component markets, India requires around 3,400-4,100 GWh of lithium-ion batteries (LIBs) by2035, estimates the International Council on Clean Transportation.
Further, India's clean energy transition faces challenges due to the variable and intermittent nature of renewable sources like solar and wind. Energy storage systems are crucial for reducing generation variability and improving grid stability, while reducing peak-load and emissions. The Central Electricity Authority projects India’s battery storage requirement to be 236 GWh (47 GW) by2031-32. This emphasises the urgency to set up domestic gigafactories to enhance competitiveness and reach our Nationally Determined Contributions.
Thus, India's commitment to net-zero emissions by 2070 hinges on significantly expanding its battery storage capacity sustainably.
