Exide vs Amara Raja: Which EV Battery Manufacturer Will Lead The Market?

India is preparing to leap forward in developing cleaner energy sources. The electrification of transport is a top priority. The demand for electric vehicles has been surging across India, doubling in the last three years. With 69,012 units of electric vehicles on road in 2017-18, the number has shot up to 167,041 units in 2019-20. The government has also been working relentlessly to boost demand in this segment. In November 2020, it announced incentives worth ₹ 3 lakh crore, encouraging sectors to boost local manufacturing and exports. Of this, ₹ 18,000 crore was earmarked towards advanced cell/battery chemistry. This was to help bring at least 50 gigawatts of lithium-ion batteries into the market. Apart from this, it also increased incentives for electric two-wheelers under the FAME-II scheme from ₹ 10,000/kWh to ₹ 15,000/kWh. Even the cap on discounts was pushed up from the previous 20% to 40% of the cost of a vehicle. This will further reduce the price for an electric 2-wheeler. With rising fuel prices often making headlines, this is music to the ears of potential customers. Most (EVs) use lithium-ion batteries.   Unlike lead batteries used in conventional fuel-based vehicles, lithium-ion batteries are the heart of an electric vehicle. At present, EV manufacturers import lithium-ion batteries from China, the top producer of lithium-ion batteries. But this trend can change.

India is preparing to leap forward in developing cleaner energy sources. The electrification of transport is a top priority. The demand for electric vehicles has been surging across India, doubling in the last three years. With 69,012 units of electric vehicles on road in 2017-18, the number has shot up to 167,041 units in 2019-20. The government has also been working relentlessly to boost demand in this segment. In November 2020, it announced incentives worth ₹ 3 lakh crore, encouraging sectors to boost local manufacturing and exports. Of this, ₹ 18,000 crore was earmarked towards advanced cell/battery chemistry. This was to help bring at least 50 gigawatts of lithium-ion batteries into the market. Apart from this, it also increased incentives for electric two-wheelers under the FAME-II scheme from ₹ 10,000/kWh to ₹ 15,000/kWh. Even the cap on discounts was pushed up from the previous 20% to 40% of the cost of a vehicle. This will further reduce the price for an electric 2-wheeler. With rising fuel prices often making headlines, this is music to the ears of potential customers. Most (EVs) use lithium-ion batteries.   Unlike lead batteries used in conventional fuel-based vehicles, lithium-ion batteries are the heart of an electric vehicle. At present, EV manufacturers import lithium-ion batteries from China, the top producer of lithium-ion batteries. But this trend can change.India is preparing to leap forward in developing cleaner energy sources. The electrification of transport is a top priority. The demand for electric vehicles has been surging across India, doubling in the last three years. With 69,012 units of electric vehicles on road in 2017-18, the number has shot up to 167,041 units in 2019-20. The government has also been working relentlessly to boost demand in this segment. In November 2020, it announced incentives worth ₹ 3 lakh crore, encouraging sectors to boost local manufacturing and exports. Of this, ₹ 18,000 crore was earmarked towards advanced cell/battery chemistry. This was to help bring at least 50 gigawatts of lithium-ion batteries into the market. Apart from this, it also increased incentives for electric two-wheelers under the FAME-II scheme from ₹ 10,000/kWh to ₹ 15,000/kWh. Even the cap on discounts was pushed up from the previous 20% to 40% of the cost of a vehicle. This will further reduce the price for an electric 2-wheeler. With rising fuel prices often making headlines, this is music to the ears of potential customers. Most (EVs) use lithium-ion batteries.   Unlike lead batteries used in conventional fuel-based vehicles, lithium-ion batteries are the heart of an electric vehicle. At present, EV manufacturers import lithium-ion batteries from China, the top producer of lithium-ion batteries. But this trend can change.India is preparing to leap forward in developing cleaner energy sources. The electrification of transport is a top priority. The demand for electric vehicles has been surging across India, doubling in the last three years. With 69,012 units of electric vehicles on road in 2017-18, the number has shot up to 167,041 units in 2019-20. The government has also been working relentlessly to boost demand in this segment. In November 2020, it announced incentives worth ₹ 3 lakh crore, encouraging sectors to boost local manufacturing and exports. Of this, ₹ 18,000 crore was earmarked towards advanced cell/battery chemistry. This was to help bring at least 50 gigawatts of lithium-ion batteries into the market. Apart from this, it also increased incentives for electric two-wheelers under the FAME-II scheme from ₹ 10,000/kWh to ₹ 15,000/kWh. Even the cap on discounts was pushed up from the previous 20% to 40% of the cost of a vehicle. This will further reduce the price for an electric 2-wheeler. With rising fuel prices often making headlines, this is music to the ears of potential customers. Most (EVs) use lithium-ion batteries.   Unlike lead batteries used in conventional fuel-based vehicles, lithium-ion batteries are the heart of an electric vehicle. At present, EV manufacturers import lithium-ion batteries from China, the top producer of lithium-ion batteries. But this trend can change.India is preparing to leap forward in developing cleaner energy sources. The electrification of transport is a top priority. The demand for electric vehicles has been surging across India, doubling in the last three years. With 69,012 units of electric vehicles on road in 2017-18, the number has shot up to 167,041 units in 2019-20. The government has also been working relentlessly to boost demand in this segment. In November 2020, it announced incentives worth ₹ 3 lakh crore, encouraging sectors to boost local manufacturing and exports. Of this, ₹ 18,000 crore was earmarked towards advanced cell/battery chemistry. This was to help bring at least 50 gigawatts of lithium-ion batteries into the market. Apart from this, it also increased incentives for electric two-wheelers under the FAME-II scheme from ₹ 10,000/kWh to ₹ 15,000/kWh. Even the cap on discounts was pushed up from the previous 20% to 40% of the cost of a vehicle. This will further reduce the price for an electric 2-wheeler. With rising fuel prices often making headlines, this is music to the ears of potential customers. Most (EVs) use lithium-ion batteries.   Unlike lead batteries used in conventional fuel-based vehicles, lithium-ion batteries are the heart of an electric vehicle. At present, EV manufacturers import lithium-ion batteries from China, the top producer of lithium-ion batteries. But this trend can change.India is preparing to leap forward in developing cleaner energy sources. The electrification of transport is a top priority. The demand for electric vehicles has been surging across India, doubling in the last three years. With 69,012 units of electric vehicles on road in 2017-18, the number has shot up to 167,041 units in 2019-20. The government has also been working relentlessly to boost demand in this segment. In November 2020, it announced incentives worth ₹ 3 lakh crore, encouraging sectors to boost local manufacturing and exports. Of this, ₹ 18,000 crore was earmarked towards advanced cell/battery chemistry. This was to help bring at least 50 gigawatts of lithium-ion batteries into the market. Apart from this, it also increased incentives for electric two-wheelers under the FAME-II scheme from ₹ 10,000/kWh to ₹ 15,000/kWh. Even the cap on discounts was pushed up from the previous 20% to 40% of the cost of a vehicle. This will further reduce the price for an electric 2-wheeler. With rising fuel prices often making headlines, this is music to the ears of potential customers. Most (EVs) use lithium-ion batteries.   Unlike lead batteries used in conventional fuel-based vehicles, lithium-ion batteries are the heart of an electric vehicle. At present, EV manufacturers import lithium-ion batteries from China, the top producer of lithium-ion batteries. But this trend can change.India is preparing to leap forward in developing cleaner energy sources. The electrification of transport is a top priority. The demand for electric vehicles has been surging across India, doubling in the last three years. With 69,012 units of electric vehicles on road in 2017-18, the number has shot up to 167,041 units in 2019-20. The government has also been working relentlessly to boost demand in this segment. In November 2020, it announced incentives worth ₹ 3 lakh crore, encouraging sectors to boost local manufacturing and exports. Of this, ₹ 18,000 crore was earmarked towards advanced cell/battery chemistry. This was to help bring at least 50 gigawatts of lithium-ion batteries into the market. Apart from this, it also increased incentives for electric two-wheelers under the FAME-II scheme from ₹ 10,000/kWh to ₹ 15,000/kWh. Even the cap on discounts was pushed up from the previous 20% to 40% of the cost of a vehicle. This will further reduce the price for an electric 2-wheeler. With rising fuel prices often making headlines, this is music to the ears of potential customers. Most (EVs) use lithium-ion batteries.   Unlike lead batteries used in conventional fuel-based vehicles, lithium-ion batteries are the heart of an electric vehicle. At present, EV manufacturers import lithium-ion batteries from China, the top producer of lithium-ion batteries. But this trend can change.India is preparing to leap forward in developing cleaner energy sources. The electrification of transport is a top priority. The demand for electric vehicles has been surging across India, doubling in the last three years. With 69,012 units of electric vehicles on road in 2017-18, the number has shot up to 167,041 units in 2019-20. The government has also been working relentlessly to boost demand in this segment. In November 2020, it announced incentives worth ₹ 3 lakh crore, encouraging sectors to boost local manufacturing and exports. Of this, ₹ 18,000 crore was earmarked towards advanced cell/battery chemistry. This was to help bring at least 50 gigawatts of lithium-ion batteries into the market. Apart from this, it also increased incentives for electric two-wheelers under the FAME-II scheme from ₹ 10,000/kWh to ₹ 15,000/kWh. Even the cap on discounts was pushed up from the previous 20% to 40% of the cost of a vehicle. This will further reduce the price for an electric 2-wheeler. With rising fuel prices often making headlines, this is music to the ears of potential customers. Most (EVs) use lithium-ion batteries.   Unlike lead batteries used in conventional fuel-based vehicles, lithium-ion batteries are the heart of an electric vehicle. At present, EV manufacturers import lithium-ion batteries from China, the top producer of lithium-ion batteries. But this trend can change.India is preparing to leap forward in developing cleaner energy sources. The electrification of transport is a top priority. The demand for electric vehicles has been surging across India, doubling in the last three years. With 69,012 units of electric vehicles on road in 2017-18, the number has shot up to 167,041 units in 2019-20. The government has also been working relentlessly to boost demand in this segment. In November 2020, it announced incentives worth ₹ 3 lakh crore, encouraging sectors to boost local manufacturing and exports. Of this, ₹ 18,000 crore was earmarked towards advanced cell/battery chemistry. This was to help bring at least 50 gigawatts of lithium-ion batteries into the market. Apart from this, it also increased incentives for electric t