The Tata Group’s plan to invest in a lithium-ion battery manufacturing plant in India is a significant step towards the country’s goal of creating its electric vehicle (EV) supply chain.
The plant, which is expected to have an initial production capacity of 20 GWh, could help to reduce India’s dependence on imports for EV batteries.
Tata plans to set up plant in Sanand, Gujarat, under Tata’s Agratas Energy Storage Solutions, is expected to commence construction within the next three years.
Electric Market
The EV market in India is still in its early stages but proliferating. In 2022, EV sales in India grew by 150%, and the government is targeting 30% of all new car sales to be EVs by 2030. The Tata Group’s investment in a battery manufacturing plant will help to support this growth and make EVs more affordable for Indian consumers.
Tata Group
In addition to the Tata Group, other companies such as Reliance Industries and Hyundai Motor have announced plans to invest in battery manufacturing in India. This investment is a sign of confidence in the Indian EV market and could help to make India a global leader in EV manufacturing.
Here are some of the benefits of the Tata Group’s plan to invest in a lithium-ion battery manufacturing plant in India:
- Helps to create jobs and boost the economy.
- Reduce India’s dependence on imports of EV batteries.
- It will make EVs more affordable for Indian consumers.
- Reduce pollution and improve air quality.
Some of the Indian companies that are investing in battery manufacturing and the amount they are investing:
- Reliance Industries: Reliance Industries is investing Rs 75000 crore in a battery manufacturing and recycling complex in Jamnagar, Gujarat. The complex will have a production capacity of 50 GWh per year.
- Hyundai Motor: Hyundai Motor is investing Rs 728 crore in a battery manufacturing plant in Tamil Nadu. The plant will have an initial production capacity of 5 GWh, which could be increased to 10 GWh in the future.
- Ola Electric Mobility: Ola Cell Technologies will invest ₹5,114 crore and Ola Electric Technologies ₹2,500 crore in a battery manufacturing plant in Tamil Nadu. The plant will have an initial production capacity of 2 GWh, which could be increased to 10 GWh in the future.
- Mahindra & Mahindra: Mahindra & Mahindra is investing Rs 250 crore in a battery manufacturing plant in Karnataka. The plant will have an initial production capacity of 1 GWh, which could be increased to 2 GWh in the future.
These investments are a sign of confidence in the Indian EV market and could help to make India a global leader in EV manufacturing. The battery manufacturing sector is expected to create millions of jobs and boost the Indian economy.
Conclusion
The Tata Group’s plan to invest in a lithium-ion battery manufacturing plant is a positive development for the Indian EV market. It will help support the EV market’s growth and make EVs more affordable for Indian consumers. This will help to reduce pollution and improve air quality in India.
Source: ET Auto
