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out India’s electric vehicle supply chain","mapping-out-indias-electric-vehicle-supply-chain","article/mapping-out-indias-electric-vehicle-supply-chain",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":663,"featured":50,"reporter":664,"_editable":668,"component":669,"seo_title":553,"categories":670,"visibility":677,"author_company":49,"featured_image":678,"seo_description":663,"author_full_name":49,"author_job_title":49,"formattedDate":683,"formattedArticleDate":684},"90dbf12d-f842-44e9-a772-2ba0cb1d2b5c","2019-09-09 00:00",[],[561],{"slug":562,"name":563,"content":564},"matthew-bird","Matthew Bird",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Senior Editor - Supply Chains & Data Visualisation",{"filename":567},"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":571,"content":572},"doc",[573,581,587,592,601,606,611,616,625,630,635,640,645,650,655],{"type":574,"attrs":575,"content":577},"heading",{"level":576,"textAlign":49},4,[578],{"text":579,"type":580},"Here Benchmark Minerals explores the critical areas of discussion for India’s electric vehicle supply chain","text",{"type":582,"attrs":583,"content":584},"paragraph",{"textAlign":49},[585],{"text":586,"type":580},"By the mid-2020s, India will overtake China to become the most populous country in the world and will retain its position as one of the world’s 5 largest economies. These optimistic economic tailwinds, however, contrast with a grim reality today: based on a study by the World Health Organisation 15 out of the 20 most polluted cities in the world in 2019 are in India. In an effort to clean the country’s air and significantly improve citizens’ quality of life, India has set ambitious electric vehicle (EV) targets and is looking to unlock the power of battery energy storage.",{"type":582,"attrs":588,"content":589},{"textAlign":49},[590],{"text":591,"type":580},"In a move widely welcomed by the Indian automotive industry, Finance Minister Nirmala Sitharaman announced two major pieces of policy in July 2019 aimed at fostering EV uptake: providing an income-tax deduction of INR150,000 on interest paid on loans to purchase EVs, and lowering the goods and services tax on EVs and chargers from 12% to 5%. However, more bold policy actions will be needed to meet the Government’s ambitious goal of meeting their publicised target of 30% EV penetration by 2030.",{"type":582,"attrs":593,"content":594},{"textAlign":49},[595,597,599],{"text":596,"type":580},"In late July 2019, ",{"text":598,"type":580},"Benchmark Minerals ",{"text":600,"type":580},"hosted a series of high-level meetings with industry and government leaders across 5 major Indian cities to exchange ideas on building the 21st century automotive supply chain. Some key learnings from those meetings include:",{"type":574,"attrs":602,"content":603},{"level":576,"textAlign":49},[604],{"text":605,"type":580},"1. The Indian EV story is driven by 2-wheelers and 3-wheelers.",{"type":582,"attrs":607,"content":608},{"textAlign":49},[609],{"text":610,"type":580},"India is currently the world’s 4th largest automotive market, having seen domestic auto sales increase nearly 7% per year over the last 5 years. 2-wheelers and 3-wheelers account for nearly 85% of the domestic vehicle market, and account for almost 99% of the EVs sold in the last 12 months. Even as the luxury vehicle market in India has experienced decline in the last year and growth in the general car market has softened, 2-wheelers saw >12% year-over-year growth in 2018. As a result, Indian automotive companies such as Bajaj, TVS, Hero, and Mahindra are announcing plans to introduce multiple new electric two-wheeler models in the next 18 months.",{"type":574,"attrs":612,"content":613},{"level":576,"textAlign":49},[614],{"text":615,"type":580},"2. India is focusing domestic supply chain development towards battery cells for the next 3-5 years.",{"type":582,"attrs":617,"content":618},{"textAlign":49},[619,621,623],{"text":620,"type":580},"Professor Ashok Jhunjhunwala of the Indian Institute of Technology in Madras, widely seen as a pioneering voice in the Indian EV industry, recently stated to The Hindu that “Four or five years back, (India) were nowhere in battery manufacturing… But in the last four to five years, we have started making battery packs as good as those made” by international industry leaders. Now, as automakers continue to shift investment capital towards EV programs, the attention has shifted to cell manufacturing. The right approach for India could be partnerships between with Indian technology companies who bring local manufacturing knowledge and expertise, and international cell players who bring state-of-the-art battery technology. India does not yet have an operational battery cell factory tracked on ",{"text":622,"type":580},"Benchmark’s Megafactories Assessment",{"text":624,"type":580},", but we expect this paradigm will change quickly.",{"type":574,"attrs":626,"content":627},{"level":576,"textAlign":49},[628],{"text":629,"type":580},"3. Indian industry will need custom-built solutions, and can’t rely on the same technology used in the Chinese and European EV markets. ",{"type":582,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":580},"A key consideration pointed out multiple times by various product development executives was that cells widely used in Western and Chinese automotive applications fail under the rigorous operating conditions of the Indian environment. For example, Indian automotive consumers, especially those for two-wheelers and three-wheelers, demand battery cells that can withstand a higher temperature operating range without the help of conventional battery pack cooling technology.",{"type":574,"attrs":636,"content":637},{"level":576,"textAlign":49},[638],{"text":639,"type":580},"4. Recycling features prominently in the future cell materials supply chain.",{"type":582,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":580},"For decades, India has maintained a highly unfavourable trade balance for oil and petroleum products. While Indian industry is motivated to shift away from overreliance on imports for the battery materials supply chain, scant domestic resources of lithium, nickel, and cobalt pose a challenge. As a result, recycling domestic phones and retired batteries is seen as a core strategy to insource as much of the materials supply chain as possible.",{"type":574,"attrs":646,"content":647},{"level":576,"textAlign":49},[648],{"text":649,"type":580},"5. Battery swapping to complement charging.",{"type":582,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":580},"While as of Q2 2019 India only had 150 charging stations in the entire country, the government has set an ambitious goal of one charging station every 3km in cities and 25km on highways. However, multiple new businesses are experimenting with battery swapping service models wherein battery packs are effectively “rented” from a service provider who bears the responsibility for pack maintenance and depreciation. As a result, two-wheeler and three-wheeler manufacturers are designing their battery architecture around easy replaceability, and are pushing towards standardisation across their platforms.",{"type":582,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":580,"marks":660},"By Vivas Kumar, Principal Consultant, Benchmark Mineral Intelligence",[661],{"type":662},"italic","Here Benchmark Minerals explores the critical areas of discussion for India’s electric vehicle supply chain By the mid-2020s, India will overtake China to become the most populous country in the world and will retain its position as one of the world’s 5 largest economies. These optimistic economic tailwinds, however, contrast with a grim reality today: […]",[665],{"slug":562,"name":563,"content":666},{"job_title":565,"image":667,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"90dbf12d-f842-44e9-a772-2ba0cb1d2b5c\", \"id\": \"\"}-->","article",[671,674],{"slug":672,"name":673},"batteries","Batteries",{"slug":675,"name":676},"critical-minerals","Critical Minerals","private",{"id":49,"alt":679,"name":679,"focus":679,"title":679,"source":679,"filename":680,"copyright":679,"fieldtype":681,"meta_data":682,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/cc15044a35/bm-electric-vehicles-india-1.jpg","asset",{"alt":679,"title":679,"source":679,"copyright":679},"Sep 09, 2019","9th September 2019",[],[],1792773942504]