The global EV battery market is projected to reach USD 67.3 billion by 2025 starting from USD 27.3 billion in 2021, growing at a CAGR of 25.3%. The market growth is governed by the increasing demand of electric vehicles, improvement in battery technology, supporting government policies and regulations, and consistent launch of new EV models.
Recent developments in the electric vehicles market have led to the introduction of batteries with improved specifications. As a result, EV batteries witness significant investments by market players for improved performance and reduced costs. India is also contributing actively in this sector by focusing on building a sustainable EV battery components & raw materials infrastructure locally.
Let us find out from the industry experts, How is the EV battery components and raw materials sector shaping up in India and what potential does it hold?