This report estimates India’s future demand for batteries under two scenarios: an “accelerated” scenario and a “conservative” scenario. The accelerated scenario assumes the current policy momentum for EVs, renewables, and other end-use applications. This will trigger the market and lead to high penetration of these technologies. In the accelerated scenario, battery demand rises in line with expected success of India’s ambitions and incentives around vehicle electrification and grid decarbonization. The conservative scenario assumes battery demand rises in line with the most conservative expert forecasts.
