The first two weeks of April witnessed a flurry of strategic partnerships and investments aimed at bolstering India’s electric vehicle (EV) manufacturing capabilities and charging infrastructure. These moves come as the country prepares for an anticipated surge in EV adoption over the next decade. Charging Infra In a push to develop a robust charging network across the country, MG Motor India inked a Memorandum of Understanding (MoU) with Adani TotalEnergies E-Mobility Limited to set up DC chargers at upcoming MG dealerships. This collaboration aims to strengthen the charging ecosystem for MG’s electric offerings. Similarly, Tata Passenger Electric Mobility Limited and Shell India Markets Private Limited have joined forces to install chargers at locations frequented by the over 1.4 lakh Tata EVs currently plying on Indian roads. These partnerships between automakers and energy giants underscore the pressing need to enhance India’s public charging infrastructure. As of February, 2023, the country had merely 12,146 public EV charging stations catering to approximately 33 lakh registered EVs – a vehicle-to-station ratio of 270:1. In contrast, China boasts a significantly better ratio of 7 EVs per charging station. Given the rapid growth witnessed in the last two financial years alone, with nearly 30 lakh new EV registrations, India’s charging infrastructure requires a major boost to alleviate range anxiety and drive widespread adoption. To meet the projected demand, a Confederation of Indian Industry (CII) report estimates that India needs to install over 13 lakh chargers by 2030. Addressing this gap is crucial as the country transitions towards cleaner mobility solutions. EV Batteries Parallelly, efforts are underway to localise EV battery production as localisation is key to become eligible for government-sponsored schemes and subsidies to support EV manufacturing. Exide Energy Solutions Limited, a wholly-owned subsidiary of Exide Industries Limited, has signed an MoU with Hyundai Motor and Kia Corporation to manufacture lithium-iron-phosphate (LFP) cells for the automakers’ upcoming EV models in India. Notably, Exide is the largest manufacturer of lead-acid batteries in the country and pivoted to lithium-ion technologies in 2022. This strategic partnership aims to leverage Exide’s expertise in battery technologies and Hyundai-Kia’s global footprint in the EV space. In a similar vein, Indian Oil Corporation (IOC) has partnered with the Japanese electronics giant Panasonic to manufacture cylindrical lithium-ion batteries for electric two- and three-wheelers, as well as consumer electronics. Additionally, the collaboration will focus on developing battery storage systems, a crucial component for grid integration and to address intermittency.
