India looking at newer EV battery technologies for strategic reasons
As part of India’s energy security plan, the government is exploring newer battery technologies such as polymer-based solid state batteries that may allow India to avoid dependence on lithium or cobalt imports.
This comes in the backdrop of Chinese state-owned firms securing lithium mine concessions in countries such as Bolivia, Argentina and Chile, which forms the so-called lithium triangle. The idea is to not allow India to fall in a vulnerable position with a likely threat of supply squeeze as has happened in the case of crude oil, with India being the world’s third largest oil importer.
Almost all electric vehicles in the country run on imported batteries, mostly from China. At present a lithium-ion battery accounts for 40% of the total cost of an electric vehicle. Lithium also has other uses such as in mobile phone batteries and solar panels.
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