印度EV报告-37页-WN6.pdf

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1、EVreporterAPR 2023|MAGAZINEIssue No.27WHATS INSIDE4 Apr 2023 Page 222Meeting technical expectations of Li-ion cell market26 EVreporter|Intelligence.Research.Consulting.EV sales trends for Mar 202310Indias Lithium-ion cell supply chain-leading players and plans28H2-ICE technology for sustainable heav

2、y-duty vehicles16Disclaimer:The information contained in this magazine is for general information purposes only.While we endeavour tokeep the information up to date and correct,we make no representations or warranties of any kind about thecompleteness,accuracy,reliability or suitability of the infor

3、mation,products,services,or related graphics forany purpose.Any reliance you place on the information is strictly at your own risk.Investment commitments secured by Indian EV companies in FY 22-23Jupiter Wagons gets ready to enter Indias electric CV market News and updates31Copyright 2023 EVreporter

4、.All rights reserved.24Product Feature|Chogori FC Connector Product SeriesCategory wise Electric Vehicle sales,Mar 2023EVreporter|Intelligence.Research.Consulting.Apr 2023 Page 4Category wise-Sales Trend from Mar 2022 to Mar 2023Total Registered Electric Vehicle Sales-Mar23-1,40,037 I Feb 23-1,06,96

5、4 11,08,830 EVs sold in last 12 months from Mar 2022 to Feb 2023Copyright 2023 EVreporter.All rights reserved.11,80,903 EVs sold in last 12 months from Apr 2022 to Mar 2023Source:Vahan Dashboard.Data as per 1350 out of 1436 RTOs across 34 out of 36 state/UTsLow speed 2Ws not included.EVreporter|Inte

6、lligence.Research.Consulting.High Speed E-2W Sales Trend by OEMFuel wise 2W Sales Trend,Mar 2022-Mar 2023Apr 2023 Page 5Copyright 2023 EVreporter.All rights reserved.Source:Vahan Dashboard.Data as per 1350 out of 1436 RTOs across 34 out of 36 state/UTsLow speed 2Ws not included.EVreporter|Intelligen

7、ce.Research.Consulting.3W Passenger Sales Trend by Fuel Type,Mar 2022-Mar 2023Apr 2023 Page 6E-3W Passenger Sales Trend by OEMCopyright 2023 EVreporter.All rights reserved.Source:Vahan Dashboard.Data as per 1350 out of 1436 RTOs across 34 out of 36 state/UTs.The aim of these graphs isto represent an

8、 overall trend of the new EV registrations in India.(L3+L5 Electric)EVreporter|Intelligence.Research.Consulting.3W Cargo Sales Trend by Fuel Type,Mar 2022-Mar 2023Apr 2023 Page 7 E-3W Cargo Sales Trend by OEMCopyright 2023 EVreporter.All rights reserved.Source:Vahan Dashboard.Data as per 1350 out of

9、 1436 RTOs across 34 out of 36 state/UTs.The aim of these graphs isto represent an overall trend of the new EV registrations in India.(L3+L5 Electric)EVreporter|Intelligence.Research.Consulting.Apr 2023 Page 8OEM wise E-4Wheeler Sales,Mar 2023OEM wise Electric Bus Sales,Mar 2023Others include JLR,Po

10、rsche,Audi etc.Copyright 2023 EVreporter.All rights reserved.Source:Vahan Dashboard.Data as per 1350 out of 1436 RTOs across 34 out of 36 state/UTs.Source:Vahan Dashboard.Data as per 1350 out of 1436 RTOs across 34 out of 36 state/UTs.INDIAS LITHIUM-ION CELL SUPPLY CHAIN-LEADING PLAYERS AND PLANSApr

11、 2023 Page 10EVreporter|Intelligence.Research.Consulting.India LiB Demand OverviewOver the past decade,demand for lithium-ion batteries has increased significantly due to thegrowing adoption of electric vehicles and the expansion of renewable energy sources.Asia-Pacific is one of the largest markets

12、 for lithium-ion batteries.China is the largest producer andconsumer of lithium-ion batteries,followed by North America,Europe,Japan and South Korea.Indias LiB industry is also making significant strides,with many companies investing in thesector and new startups coming up.In this article,Preetesh S

13、ingh-Specialist,CASE and AlternatePowertrains at Nomura Research Institute,summarises the efforts ofdifferent players in the Li-ion battery value chain and the direction the Indiangovernment is taking to support such players.Copyright 2023 EVreporter.All rights reserved.Indias rapidly growing popula

14、tion and economy are driving the demand for energy storage solutions.The Indian government has a focus on increasing electric vehicle penetration to reduce air pollutionand dependence on fossil fuels.As per Niti Aayogs estimates,the battery demand in India isexpected to rise to about 230 GWh by 2030

15、.Despite such large demand,cell manufacturing is stillat a nascent stage in India.Given the vast business opportunity,numerous players are now lookingto venture into Li-ion battery manufacturing in India.Most of the companies in India are currentlyfocusing on battery-pack manufacturing and are impor

16、ting cells from China and Korea.Source:Niti Aayog Apr 2023 Page 11EVreporter|Intelligence.Research.Consulting.Ola Electric,Reliance and Rajesh Exports have been selected under the PLI scheme for receivingincentives for cell manufacturing and are expected to start cell manufacturing latest by 2024.Tr

17、aditional battery manufacturers presence is inevitable in lithium-ion battery manufacturing.Thesecompanies have an excellent understanding of the automotive industry and have long-termexperience working with OEMs.Non-traditional players such as Mahindra,L&T,India Power,Thermax,Tata Chemical,and many

18、 startup companies are looking to enter into the packmanufacturing business,with some planning to explore cell manufacturing in the future.Indias LiB industry-key players activityOla ElectricOla Electric,which currently imports battery cells from South Korea,plans to set up anAdvanced chemistry cell

19、 manufacturing plant with 1GWh of battery capacity by 2023 and expandit to 20 GWh in 2026-2027 and 50 GWh in the long term.Ola needs 40 GWh of battery capacityto meet its annual target of producing 10 million e-scooters.Ola expects high demand securityfor LiB batteries owing to their current and ant

20、icipated future captive demand and expecteddemand from other OEMs.The company reportedly plans to invest up to$1 Billion in cell manufacturing.Ola is in talks withseveral state governments to find 1,000 acres of land for the manufacturing plant and is speakingto more than 40 global suppliers from Ge

21、rmany,Korea and Japan,such as Drr andSiemens.In addition,the company invested in Israel battery technology firm StoreDot to haveexclusive rights to manufacture batteries integrating StoreDots technology in India.Copyright 2023 EVreporter.All rights reserved.Announcements and association by the compa

22、nies selected under the PLI schemeSource:Nomura Research Institute Apr 2023 Page 12EVreporter|Intelligence.Research.Consulting.RelianceThere is a critical need to localise the cell supply chain.The cell materials constitute around 40%ofits cost,and India has minimal availability of cell raw material

23、s.If India targets to achieve 60%ofthe value addition(as mandated by the PLI),it needs to localise the manufacturing of anode,cathode,electrolyte,and separator.Copyright 2023 EVreporter.All rights reserved.Reliance has made investments in two companies,LithiumWerks and Faradion.LithiumWerksowns prop

24、rietary LFP cell technology.Reliance acquired all its assets,including the entireportfolio of 219 patents,a manufacturing facility in China,key business contracts,and hiringexisting employees.Faradion,on the other hand,is a sodium-ion battery technology company.Reliance plans to invest 150 B in valu

25、e-chain,partnerships,and future technologies,to create afully integrated,end-to-end ACC(advanced chemistry cell)manufacturing facility.The companyalso has an exclusive collaboration with Ambri,an American energy storage company,to set upa large-scale battery manufacturing facility in India.Cell comp

26、onent manufacturing:Anode,Cathode,Electrolyte and SeparatorAnodeCompanies such as Epsilon,Himadri&HEG are exploring and taking steps to manufacture anodelocally.Epsilon produces meso coke,a precursor to anode material,on a commercial scale of 2,500TPA capacity to manufacture synthetic and natural gr

27、aphite.By 2030,they plan to have capacities ofaround 100,000 million TPA of the synthetic anode and 50,000 million TPA tons of natural graphite.Himadri Chemicals plans to produce around 20,000 MT soon and expand to 100,000 million tons ofanode material by 2028 in a phased manner.CathodeIndia doesnt

28、have many cathode manufacturers yet,given the scarcity of raw material.EpsilonCarbon has tied up with a US company to explore the cathode manufacturing business inIndia.A few startups are also venturing into cathode manufacturing.Some initiatives have beenannounced by Allox and Epsilon.Hyderabad-bas

29、ed Allox enhances the imported material andmanufactures the LFP cathode through a patented process at a current manufacturingcapacity of 50 kilograms per day.They plan to go into commercial production and increase theproduction capacity to 10 to 15 tons per day.Allox has also signed an MoU with Govt

30、.of Telanganafor setting up a C-LFP active battery material production unit.The 3GWh per annum capacity facilitywith an investment of 210 Cr will be expanded to 10 GWH/PA with 750 Cr by 2030.ElectrolyteIndian companies such as Neogen Chemicals and Gujarat Fluorochemicals have recentlyinvested&starte

31、d manufacturing electrolytes for lithium-ion batteries in India.SeparatorsDaramic(an Asahi Kasei Group company)currently manufactures PE separators in India for LeadAcid Batteries.They are believed to be future-ready for a transition into Li-ion batteries.Daramicplans to start a greenfield project f

32、or lithium-ion battery separators.Once the local demandincreases,Asahi Kasei Group company is expected to have aggressive plans for separatormanufacturing in India.Apr 2023 Page 13EVreporter|Intelligence.Research.Consulting.Due to the lack of domestic demand for the above cell material,the first tar

33、get for any companyentering cell component manufacturing is obtaining approval for their products from global cellmanufacturers such as Panasonic or LG Chem.Becoming a supplier to such players gives them asubstantial advantage and acceptability.Furthermore,as global cell players enter differentgeogr

34、aphies,they can accompany them to capture other markets.The second requisite is export to lead demand.Anode manufacturers in India are makingmanufacturing plans based on not the Indian scenario but the global scenario since the domesticmarket for local cell manufacturing companies is expected to tak

35、e at least three to four years tomature in India.Copyright 2023 EVreporter.All rights reserved.Strategy of cell component manufacturers in IndiaAvailability of raw materials and Indias treaties with the worldThere is a need to have G2G(government to government)collaborations for raw material access.

36、Institutions like the National Aluminium Company(NALCO),Hindustan Copper(HCL),MineralExploration Corporation(MECL),National Mineral Development Corporation(NDMC)and others areworking towards establishing such collaborations.To ensure a steady supply of raw materials forLithium-ion battery production

37、 in the country,India will be obtaining lithium and cobalt in countrieslike Australia,Argentina,Bolivia,and Chile.Source:Nomura Research Institute Apr 2023 Page 14EVreporter|Intelligence.Research.Consulting.A joint venture company,Khanij Bidesh India(KABIL)Ltd.,has been created by the Ministryof Min

38、es.National Aluminium Company(NALCO),Hindustan Copper(HCL),and MineralExploration Corporation(MECL)are three companies that are a part of this joint venture.Copyright 2023 EVreporter.All rights reserved.State-owned NMDC(National Mineral Development Corp)is looking to mine lithium,cobalt andnickel th

39、rough Legacy Iron Ore Ltd in Australia.NMDC owns a 90%share in Legacy Iron OreLimited.NMDC will bring back its entire quota to India to meet the growing lithium requirementbecause of the rising domestic sales of electric vehicles.NMDC is also looking for cobalt,nickel andgold mines in various geogra

40、phies,including Africa.Hence,once these G2G collaborations pick up,India will solve major challenges with respect to rawmaterials access for cell manufacturing.ConclusionIndia is currently heavily dependent on imports for lithium-ion batteries,which account for asignificant portion of the cost of el

41、ectric vehicles and energy storage systems.To reducedependence on imports and promote domestic manufacturing,the Indian government has launchedseveral initiatives to support the local production of lithium-ion batteries.As of today,there are several domestic and international companies that have set

42、 up lithium-ionbattery pack manufacturing plants in India.The production of lithium-ion cells in India is still in itsearly stages,but it is expected to grow rapidly in the coming years due to the governmentsinitiatives to promote domestic manufacturing and the increasing demand for electric vehicle

43、s andenergy storage systems.Special Thanks to Mridul Agarwal,Associate Consultant at Nomura Research InstituteConsulting and Solutions,for his extensive contribution to this analysis.In 2020,KABIL signed a non-binding MoU with a non-disclosure agreement with three State-ownedArgentinian organisation

44、s in July,September and December for information sharing regardingprospective mineral acreages.KABIL has also signed an MoU with Australias Critical MineralsFacilitation Office(CMFO)to collaborate on lithium and cobalt identification projects in AustraliaApr 2023 Page 16Investment Commitments Secure

45、d byIndian EV Companies in FY 22-23USD 2 M APR2022USD 128 MSeries EUSD 25 MSeries AUSD 220 M USD 25.7 MSeries A MAY2022 MAY2022 JUN2022 JUN2022USD 1.6 MSeed FundingUSD 10 M USD 25 M USD 3.1 M Undisclosed amount Seed Funding JUN2022 JUN2022 JUN2022 JUN2022 JUL2022EVreporter|Intelligence.Research.Cons

46、ulting.Copyright 2023 EVreporter.All rights reserved.Apr 2023 Page 17EVreporter|Intelligence.Research.Consulting.Copyright 2023 EVreporter.All rights reserved.USD 250 MINR 80 lakhsSeed FundingUSD 11 MSeries AUSD 13 MSeries ASeries D JUL2022 AUG2022USD 12.5 MEquity and DebtUSD 25 M USD 60 M Series CU

47、SD 82 MSeries BINR 10 Cr AUG2022 AUG2022 AUG2022 AUG2022 SEP2022 SEP2022 SEP2022 SEP2022USD 10 MApr 2023 Page 18EVreporter|Intelligence.Research.Consulting.Copyright 2023 EVreporter.All rights reserved.USD 5.2 M Pre-Series AUSD 10 MSeries AEquity and DebtINR 24 CrPre-Series AUSD 2.5 M USD 25 M USD 9

48、 MDebtUSD 7 MPre-Series A1USD 9 MSeries AUSD 2.2 MSeed RoundUSD 1.5 MSeed Funding OCT2022 OCT2022 OCT2022 NOV2022 NOV2022 NOV2022 NOV2022 NOV2022 NOV2022 NOV2022Series D NOV2022Apr 2023 Page 19EVreporter|Intelligence.Research.Consulting.Copyright 2023 EVreporter.All rights reserved.INR 16 CrPre-Seri

49、es AINR 100 Crfor 51%stakeINR 7.5 CrUndisclosed amount in Debt FundingUSD 5 MPre-Series AUSD 4.75 MPre-Series AUSD 40 MEquity and DebtSeries BUSD 20 MBridge RoundUSD 25 MEquity and DebtSeries BUSD 13.8 MSeries A NOV2022 DEC2022 DEC2022 JAN2023 JAN2023 JAN2023 JAN2023 FEB2023 FEB2023 FEB2023Apr 2023

50、Page 20EVreporter|Intelligence.Research.Consulting.Copyright 2023 EVreporter.All rights reserved.Pre-Series AUSD 7 MPre-Series A FEB2023 MAR2023INR 600 CrUSD 3 MUSD 54 MEquity and DebtSeries A1USD 200,000SeedUndisclosedPre Seed MAR2023 MAR2023 MAR2023 MAR2023 MAR2023H2-ICE is not really a newtechnol