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GROWING EV MARKET IN INDIA
Focus:
- Despite small volumes (6% of 2023 vehicle registrations), the Indian EV market experienced a significant 50% growth in sales last year.
- Expected to reach $100 billion by 2030, the Indian EV market’s growth hinges on battery technology advancements for better economics and user experience.
Source: ETAuto
Source: ETAutoChallenges with Current Battery Technology:
- Lithium-ion batteries, powering most EVs, comprise two electrodes separated by a liquid electrolyte, with lithium ions facilitating current flow.
- While lithium’s properties enable efficient energy storage, current Li-ion batteries have limitations:
- slow charging,
- comparatively low energy density, and
- environmental concerns related to mining.
Approaches to Enhance Battery Performance:
Efforts to improve battery performance involve three main approaches:
- Tweaking electrode materials for higher energy density and faster charging, albeit with trade-offs.
- Implementing sensing and control infrastructure to enhance safety, extend battery life, and expedite charging.
- Exploring paradigm shifts such as Solid-State Lithium Batteries (SSB), which aim to overcome common drawbacks, promising enhanced performance by the end of the decade.
