By FY33, Lithium Battery Demand in India will Reach 250-500 GWh

By the fiscal year 2032–2033, India will have 50% of the population using electric vehicles. receive ongoing financial assistance from the government.

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With incentives totaling INR 1.8 trillion during FY 24–28 and an initial capex of USD 30-33 billion,

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a battery demand of 250GW may be met. This is noted in the Axis Capital research entitled “EV Batteries: Battle to Control EV Supply Chain.”

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