The second day of the India Energy Storage Week 2024 saw Customized Energy Solutions and Shakti Foundation unveil their findings from stakeholder consultations on Indian EVs and battery gigafactories, with a focus on the imperatives for a robust supply chain.
Parth Pandit, Senior Analyst, Customized Energy Solutions, kicked off the session with an explanation on India's current EV scenario. He pointed out that as EV penetration increased, the country's demand for batteries would skyrocket, covering India's annual battery demand estimates over the 2022-32 period and projected demand in 2047.
India's battery demand by 2047 is expected to reach 10x of 2032 demand levels, he pointed out, adding that this necessitated a focus on how to create a better supply chain.
Monami Dey, Industry Research Manager, Customized Energy Solutions, explained the supply chain gap matrix, designed to help segregate battery chain manufacturing components into buckets based on demands for capital, electricity, R&D spending, and those that can be easily manufactured in India.
The session closed with inputs from participants in the form of feedback to have a robust battery supply chain in the country.