INRhttps://dealers.emotorad.com/emotorad/cycle-shop-in-siliguri/cycle-shop-in-janta-nagar/emotorad-electric-cycles-bike-and-tri-studio-in-janta-nagar-siliguri--dc26ae58-d82b-44b1-a649-93e83d69a10c/articles/discovery-of-lithium-reserves-and-its-impact-on-the-ev-segment-of-india--94ba131c-4ee6-4963-a332-2233eaeaa6e3Barua Squar Bilding, Sevoke Road, Ward No 10Janta Nagar, siliguri734001
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Discovery of Lithium reserves and its impact on the EV segment of India
he EV sector might seem like a novelty in India but in fact it has been a consistently growing presence for three decades now. The first electric vehicle to be launched in India was a car named Lovebird by Eddy Current Controls. What followed was a segment diversification with the introduction of newer models of electric vehicles, from buses to three-wheelers to the most recent surge in two-wheelers. However, the boost has been sporadic. After the launch of REVA in 2001, and its subsequent acquisition by Mahindra, the hope of whopping growth in the electric vehicle category became a plausible and imminent reality. Although the real growth has been a little divergent from earlier forecasts until now, the rate of development is expected to grow exponentially in the coming years. The discovery of lithium reserves in Kashmir after Karnataka is very promising and opens up boundless possibilities.
In February 2023, the Indian government announced that the Geological Survey of India had discovered large lithium reserves - a whopping 5.9 million tonnes - in the Reasi district of Jammu and Kashmir. This can be touted as the dawn for new technological innovations in India, for lithium is an indispensable component in battery technology that powers a plethora of gadgets today.
Lithium batteries utilise lithium as an anode. Due to their light weight, high energy density, and extended lifespan, lithium batteries are becoming increasingly popular in consumer electronics, displacing older technologies like lead acid batteries. From the ubiquitous smartphone to electric vehicles, lithium batteries are omnipresent.They are now powering the switch to electric mobility and energy storage.
EVs currently make up 24% of the world's total demand for lithium. By 2030, this percentage is anticipated to reach 79%. To achieve these goals, and expanding it on a global scale to mitigate climate change would require about a 500% increase from the current reservoirs of lithium and other rare minerals.
India is vigorously encouraging the adoption of Electric Vehicles (EVs) as part of a wider effort to adopt new age technologies and satisfy the commitment made at COP26 to reduce its carbon emissions to net-zero by the year 2070. To achieve this, availability of raw materials like Lithium is crucial.
Previously, India had to lean on Lithium imports from Australia and Argentina, which were also burdened with the demands of countries like China for the same. Although some smaller deposits of lithium pepper the landscape of Karnataka, it was not nearly enough to be a consistent source for the government to reach its goal of a 30% growth in electric mobility segment by 2030. Costs for the technology should be reduced significantly now that India has found larger indigenous reserves of the same, thus less reliance on imports. The finding of this lithium deposit not only promises to satisfy India's requirements but also puts us in a position to boost exports of this valuable mineral.
Within the Indian landscape, there is a shoot-up in demand and adoption of electric two-wheelers, primarily due to rising traffic congestion, inherent price sensitivity and the lack of infrastructure to support four wheeler EVs at present. EMotorad has recognised this gap and risen to the challenge, introducing ebikes that use lithium batteries - both removable and frame integrated, across a wide product lineup. The ecycles are a breakthrough segment in the EV sector. Unlike larger, heavier EV 4-wheelers that need big, heavy batteries, electric bicycles can make do with smaller, more compact batteries that need smaller quantities of lithium. Go through their catalogue of electric cycles
Indian state governments are also doing their part by incentivizing adoption of Electric Vehicles by offering attractive subsidies in addition to those offered by the Central Government.
According to statistics reported by indbiz.gov.in:
-India has registered 311,000 battery operated vehicles (BOVs) in FY21, as compared to 119,000 in the previous year.
-Almost 95% of the BOVs that were registered were two and three-wheeled vehicles
-The cap on incentive has been increased to 40% of the vehicle cost from the initial 20%
-Approximately 200,000 vehicles have been supported under the FAME-II scheme
To read more about the subsidy program schemes of various governments, visit to Delhi subsidy blog
Overall, it is established that the combination of current lithium discoveries, intensive and elaborate planning by the government, as well as innovation in product lines by manufacturers, India is set to flourish and uphold the baton of change for electric mobility globally.