India's EV Battery Demand Forecasted to Reach 200 GWh by 2032
India's electric vehicle battery demand is expected to increase tenfold from 20 GWh in 2025 to 200 GWh by 2032, according to IESA. This growth signals a shift towards component localization and supply chain development as India aims to become a global manufacturing hub.
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India's electric vehicle battery demand is projected to surge from 20 GWh in 2025 to 200 GWh by 2032. IESA, in collaboration with Customized Energy Solutions, will present a detailed study titled 'India EV & EV Component Market Outlook 2025-2034' during the 12th India Energy Storage Week from July 8-10.
The EV sector is witnessing rapid growth, with sales exceeding 2.5 million units in 2025, primarily driven by two-wheelers and three-wheelers. The report highlights a significant technology shift, with NMC batteries dominating the two-wheeler segment and LFP gaining traction in other areas.
The reliance on advanced motor technologies is also notable, with BLDC motors holding 71% of the two-wheeler market and PMSM motors dominating electric passenger vehicles. This anticipated growth in battery demand underscores the potential for investments in localized production and innovative battery technologies.
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