EV battery outlook: Lithium-ion demand set to jump 48% by 2030, says ICEA report; Import reliance and EoL waste pose key challenges

A joint report by ICEA and Accenture projects significant growth in India’s LiB market, driven by electric vehicles and clean energy initiatives, estimating demand to reach 115 GWh by 2030. However, India’s reliance on imports for critical battery materials poses a challenge, with cumulative demand exceeding 250 kilo tonnes, valued at over $5 billion.