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Oil set to join the battery supply chain with Panasonic Energy partnership","indian-oil-set-to-join-the-battery-supply-chain-with-panasonic-energy-partnership","article/indian-oil-set-to-join-the-battery-supply-chain-with-panasonic-energy-partnership",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":672,"featured":51,"reporter":673,"_editable":677,"component":678,"seo_title":553,"categories":679,"visibility":686,"author_company":49,"featured_image":687,"seo_description":672,"author_full_name":49,"author_job_title":49,"formattedDate":692,"formattedArticleDate":693},"57a35e97-0d18-49d4-bbc9-a4da3e9d5830","2024-04-05 00:00",[560],{"slug":561,"name":562},"india","India",[564],{"slug":565,"name":566,"content":567},"matthew-bird","Matthew Bird",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Senior Editor - Supply Chains & Data Visualisation",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":574,"content":575},"doc",[576,583,598,605,610,623,632,637,642,647,652,657,662,667],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"Plans for a joint venture between Indian Oil Corporation and Panasonic Energy signals India’s movement towards electric vehicles (EVs) and the battery industry is gathering pace. The move is driven by expected demand for two and three wheel EVs and energy storage systems in India.","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586,588,596],{"text":587,"type":582},"India’s cell capacity is set to reach 58 gigawatt hours (GWh) by the end of the decade, according to ",{"text":589,"type":582,"marks":590},"Benchmark’s Gigafactory Market Assessment",[591],{"type":592,"attrs":593},"link",{"href":594,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://www.benchmarkminerals.com/market-assessments/gigafactory-assessment/capacities/","url",{"text":597,"type":582},".",{"type":599,"attrs":600,"content":602},"heading",{"level":601,"textAlign":49},4,[603],{"text":604,"type":582},"What has happened?",{"type":599,"attrs":606,"content":607},{"level":601,"textAlign":49},[608],{"text":609,"type":582},"What is the state of India’s battery industry?",{"type":577,"attrs":611,"content":612},{"textAlign":49},[613,615,621],{"text":614,"type":582},"India currently has no operating battery factories, according to ",{"text":616,"type":582,"marks":617},"Benchmark’s Lithium Ion Battery Database",[618],{"type":592,"attrs":619},{"href":620,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports/",{"text":622,"type":582},". However, this is set to change.",{"type":577,"attrs":624,"content":625},{"textAlign":49},[626],{"type":627,"attrs":628},"image",{"id":49,"alt":629,"src":630,"title":49,"source":49,"copyright":49,"meta_data":631},"","https://a.storyblok.com/f/287943243085208/2ac5b9b51e/bm-india-gigafactory-capacity-1.png",{},{"type":577,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":582},"“The last few years have seen a plethora of investment into the Indian lithium ion battery sector from both incumbent lead acid battery producers, and other new energy technology companies,” said Evan Hartley, a senior analyst at Benchmark. ",{"type":599,"attrs":638,"content":639},{"level":601,"textAlign":49},[640],{"text":641,"type":582},"How is India’s upstream developing?",{"type":577,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":582},"While India is beginning to develop its gigafactory pipeline it still lacks significant critical raw materials supply. ",{"type":577,"attrs":648,"content":649},{"textAlign":49},[650],{"text":651,"type":582},"There are early stage developments being made in lithium ion battery recycling and cathode production. The country has been having the most success in developing its anode infrastructure, however. ",{"type":599,"attrs":653,"content":654},{"level":601,"textAlign":49},[655],{"text":656,"type":582},"Oil companies and the battery market",{"type":577,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":582},"Indian Oil Corporation, the country’s largest state-owned oil production company, aims to achieve net zero CO2 emissions by 2046. Like many oil companies seeking alternatives to fossil fuels, Indian Oil Corporation has invested in renewable energy. ",{"type":577,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":582},"“Whilst many of the giants within the global battery landscape focus almost entirely on new energy, several historically oil and gas focused companies have invested into, and had success within the lithium ion battery supply chain,” said Hartley.",{"type":577,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":582},"Indian Oil Corporation is not the only petrochemical company with interests in the battery market. Legacy fossil fuel producers have made investments across the supply chain, including: ","Plans for a joint venture between Indian Oil Corporation and Panasonic Energy signals India’s movement towards electric vehicles (EVs) and the battery industry is gathering pace. The move is driven by expected demand for two and three wheel EVs and energy storage systems in India. India’s cell capacity is set to reach 58 gigawatt hours […]",[674],{"slug":565,"name":566,"content":675},{"job_title":568,"image":676,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"57a35e97-0d18-49d4-bbc9-a4da3e9d5830\", \"id\": \"\"}-->","article",[680,683],{"slug":681,"name":682},"batteries","Batteries",{"slug":684,"name":685},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":688,"name":629,"focus":629,"title":688,"source":629,"filename":689,"copyright":629,"fieldtype":690,"meta_data":691,"is_external_url":51},"EV battery pack on production line","https://a.storyblok.com/f/287943243085208/b1159c5f37/bm-ev-battery-pack-on-production-line.jpg","asset",{"alt":688,"title":688,"source":629,"copyright":629},"Apr 05, 2024","5th April 2024",[],[],1792756373135]