I't is well-known that lithium-ion batteries constitute the core of electric vehicles (EVS), but it is equally well-known that the landfills are full. So, where will the batteries be dumped after their use? Understandably, the calls for circularity, which involves the recovery of resources from the so-called waste, are gaining traction. To figure out the challenges and opportunities presented by this trend, this report, based on some industry events, puts across some facts that need to be considered.
First, let’s look at the prominent trends related to the use of batteries in EVs and their e-waste.
The trends
• India is moving toward renewable energy sources rather than relying on the conventional energy sources that are riddled with challenging geographical and geopolitical issues.
• The Indian market is growing at an exponential rate. Also, EVs are trending. So, the demand for lithium-ion batteries is set to boom.
• Before 2017, lithium-ion batteries existed in the market but the quantum of these batteries has vastly increased from the time electric mobility came into the picture.
• The annual lithium-ion battery potential from EVs is likely to reach 130 gigawatt hours (GWh) in India by FY2030, from 5GWh as of FY2022.
• At present, EVs account for a 30% share of the overall lithium-ion batteries' deployment in India. By 2030, the share is expected to increase to 60%.
• Within EVS, electric 2-wheelers will be the major segment which will hold a majority share of over 80% by 2030. The electric 3-wheelers will also have a substantial share.
This story is from the February 2023 edition of Electronics For You.
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This story is from the February 2023 edition of Electronics For You.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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