Supply of lithium ion batteries will push EV industry

Enough supply of lithium ion batteries and focus on domestic manufacturing will give push to the electric vehicle industry, said Ayush Lohia, CEO, Lohia Auto Industries. He further added, “With the changed scenario and indigenous production the rates of electric vehicle will be more competitive and help in creating further demand.” Recently, Indian Space Research Organisation (ISRO) has been approached by the government to permit companies including those from private sector to access the technology for mass production of lithium-ion batteries for electric vehicles. Some of the companies have shown earnest interest to produce the indigenous lithium-ion batteries and have already reached out to ISRO. The electric vehicle maker also said that “this bulk procurement and mass production can help reduce the cost of lithium-ion batteries by almost 80 per cent, which is imperative to push demand. Currently all lithium-ion batteries are imported and high-priced.”