Indian government is keen on electric vehicles (EV) having set
ambitious targets for EV and launched schemes like FAME 2.
High cost of batteries along with limited range have been major
hurdles for electric vehicles. Efforts are being made to overcome
these hurdles for EV.
Active balancing of batteries has been one of the latest trend in EV batteries which improves efficiency and ensures maximum utilization of battery capacity. It also increases the life of battery and range of EV, thereby reducing their cost in long run. As EV are currently at nascent stage in India experienced personnel in EV are not easily available.
The concern about maintenance of EV is being addressed with preventive and predictive remote monitoring technology. It increases the reliability of EV and simplifies their maintenance. Fast charging infrastructure is required for EV to compete with conventional vehicles. However, fast charging needs very high power for a short time which will put enormous stress on the current Indian grid infrastructure. Grid easy fast chargers, which do not put stress on the grid while providing fast charging or battery swapping can solve this issue. Grid easy fast chargers are currently available in India and battery swapping is also being implemented. Internet of Things (IOT) enabled smart EV and batteries are surfacing in India which is a trend set to rise exponentially further.
IOT opens possibility of implementing multiple smart mobility solutions. Artificial Intelligence and connected mobility are other trends making their way in the EV sector.
Innovations and R&D efforts for EVs are happening aplenty in
the global market to provide state-of-the-art technology with
an economical price point. India is currently following the global
standards to standardize the technology and bring it to the
mass market by locally manufacturing power components and
high performance e-powertrain. The 1st wave of EV demand has
struck the Indian market with the vast portfolio for 2 and 3 wheelers, where about 40- 50% of the electric vehicle components are imported and for the next two years OEMs will focus on locally manufacturing the components to reduce the acquisition cost of EVs. OEMs are partnering with Tier 1 suppliers and solution providers to capitalize the know- how and bring products to market with quick return of investments. The entire EV value chain is currently undergoing a transformation to provide sustainable energy efficiency portfolio, high end battery technology, agile power electronic components and robust public charging infrastructure for EVs.
The Government of India facilitates many EV components production facilities such as 20GWh lithium ion manufacturing by 2025, EV motor production with less scarce metal (neodymium) to reduce cost (~$400-500), growing adoption of smart grid initiatives and the implementation of lithium-ion-based energy storage system. Battery technology trend of high nickelization of cathode materials is more viable for India EV market, and solid- state batteries are gradually appearing. The cost of Li-ion batteries is expected to be about $100/kWh by 2025-26, while nickel metal hydride and lithium iron phosphate are the key battery chemistries that will be used in the Indian market. 50kW DC fast chargers will be the key technology for the 2nd wave (eBus) and 3rd wave (e passenger vehicles), while battery swapping is viable technology for 2/3 wheelers, the technology is extremely niche to be implemented for large vehicle segments as there are no battery standardization or regulations for battery safety in India.
Though India is a late starter in the emobility space, there is a strong drive in capitalizing the entire ecosystem amongst Indian EV market players.
