First lithium plant in India plans in progress

India’s first lithium refinery is forging ahead after Neometals Ltd. and Manikaran Power Ltd approved a feasibility study. The study will aim and focus to supply a nation set to become the fourth-largest electric-vehicle market by 2040. This refinery will have a capacity of 20,000 tons a year of lithium hydroxide, Australia’s Neometals said in a statement.

First lithium plant in India

The investment decisions for a potential 50:50 joint venture to develop the project will be supported by this study. India aims to become a global hub for EVs but facing a lot of issues such as lack of access to raw materials like lithium which is used in the production of the batteries. The project is a part of by the country to establish battery factories and secure supplies for the burgeoning EV industry.

3 Lithium-ion companies to set up 3 plants in Telangana soon

Neometals Chief Executive Officer Chris Reed said in the statement that the project would also be time to hit a supply crunch in the lithium sector from the middle of the decade as it will have more demand. The present situation, the coronavirus pandemic has also taught us many things about dependency and how its effects if we don’t have domestic supply chains.

Passenger EV sales in India are expected to rise to 2.6 million vehicles in 2040, from about 3,000 in 2018. In 2040, the fleet of electric passenger and commercial freight vehicles in India will displace 360,000 barrels of fuel demand every day.

Lithium-ion recycling plant in India set up by Tata Chemicals

If you are an EV manufacturer or EV Dealer or EV Supporter who want to share news related to electric vehicles on our website, please send an email to crm@electricvehicles.in