Abstract:

India’s “leapfrog” vision of an electric, shared, and connected mobility system may result in a $300 billion domestic market for electric vehicle (EV) batteries between now and 2030, representing more than one-third of global EV battery demand over this time period, according to our new report.

In support of its commitment to sell only EVs in country by 2030, India has the opportunity to assume a global leadership position in battery manufacturing but must make new policy commitments to achieve it.

By doing so, India can position itself to win nearly 80 percent of an estimated $300 billion total domestic EV battery market between now and 2030, according to the report.