India to invest Rs 33,750 crore for lithium ion cell and battery manufacturing plant

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Mumbai : The study by research institute ‘Council on Energy, Environment and Water (CEEW)’ states that the target of setting up 50 GW of lithium ion cell and battery manufacturing plants under the government’s Production Linked Incentive Scheme (PLI) will be achieved. For this, India will have to invest Rs 33,750 crore. Research institute Council on Energy, Environment and Water (CEEW) released an independent study on Tuesday which said that the country needs 903 GW of energy storage to make its automotive and energy sectors carbon neutral by 2030. Will be

How will India do indigenization

CEEW said in this study report that India will have to invest up to Rs 33,750 crore (about $ 4.5 billion) to achieve the PLI target set by the government for setting up 50 GW of lithium-ion cell and battery manufacturing plants. The research institute’s study titled ‘How India Will Indigenize Lithium-Ion Battery Manufacturing’ seeks to find out what would be the requirements to move forward in this direction. Apart from this, an outline of domestic strategy has also been presented in it.

Lithium reserves found in Jammu and Kashmir

Earlier this month, the government announced that for the first time in the country, lithium reserves have been found, which are located in the Reasi district of Jammu and Kashmir, and this reserve is 5.9 million tonnes. This metal is used in the batteries used in electric vehicles. Rishabh Jain, senior program head at CEEW, said lithium will be as important to a green future as oil and gas are today.

He said that it is in the strategic interest of India not only to conserve the metal but also to establish a system of cell and battery manufacturing in the country. He said that with the help of this, there will be a reduction in India’s imports going forward.

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