Indian EV market surge will be bolstered by batteries, experts
The Hindu
Indian EV market projected to reach $120 billion by 2030, driven by advancements in batteries and renewable energy storage.
The Indian EV market is projected to surge from $34.8 billion in 2024 to $120 billion by 2030, with batteries fuelling advancements in EVs and renewable energy storage, said industry experts.
“India’s economic growth and focus on clean energy are driving a surge in battery demand,” Informa Markets in India, MD Yogesh Mudras said during a media roundtable.
“Government initiatives such as relaxed FDI norms and the establishment of Khanij Bidesh India [a joint venture between three PSUs to ensure mineral security of the nation] to secure critical minerals, are reducing reliance on imports and strengthening the country’s position in the global market,” he said.
The speakers also said Tamil Nadu had emerged as India’s leading automobile manufacturing hub, contributing to 40% of the nation’s EV production last year.
Of the one million EVs sold across India, more than 4,00,000 were produced in Tamil Nadu, accounting for an impressive 68% of all EV two-wheelers sold. The State secured investments exceeding ₹6.6 lakh crore, with a substantial portion allocated to advancing EV development and infrastructure.
They also announced the second edition of upcoming Battery Show India to be held alongside the 17th edition of Renewable Energy India Expo for three days at Greater Noida from October 3. It is being organised by Informa Markets in India.
It will showcase cutting-edge products and the latest advancements in battery technology that provides a platform for industry leaders to discover innovative solutions.
Swiggy shares drop 8% to record low due to wider loss from quick commerce expansion against Zomato.
Sensex and Nifty trade lower amid RBI caution, foreign fund outflows; market awaits rate cut decision.
Rupee hits record low against U.S. dollar on anticipation of RBI rate cut, weak economic data, and foreign fund outflows.
India may be able to develop its own high-end computing chipset, known as GPUs, in the next 3-5 years, Union Minister Ashwini Vaishnaw said.
DeepSeek has computer code that could send some user login information to a Chinese state-owned telecommunications company, say researchers.
Workday is cutting about 1,750 jobs, or 8.5% of its workforce as it focuses on AI.
Reliance Industries, ITC, and other major companies announce significant investments in West Bengal at BGBS 2025.
The Union Budget seems to have got many things right
LIC receives ₹105.42 crore GST demand notice for seven years, no material impact on operations.
Stock markets close lower as investors turn cautious ahead of RBI's monetary policy decision amid trade war concerns.
India has accused South Korea’s Kia of evading taxes of $155 million by misclassifying component imports but the carmaker has denied wrongdoing, the latest fight by a foreign automaker with New Delhi over tariffs, according to a document and two sources.
Rupee hits all-time low against dollar amid global trade war concerns, RBI rate cut expectations, and weak services sector.
Zomato CEO Deepinder Goyal clarifies controversial hiring process, with 30 candidates selected from 18,000 applications.