The EV Ecosystem in India seems to be promising, holds immense potential and can boost green energy. It stands at an all-time high after the discovery of 5.9 million tonnes of lithium deposits in the Salal-Haimana Area of the Reasi district of Jammu & Kashmir. Lithium is basically a critical light metal deployed in diverse fields. One of the significant components in batteries of electric vehicles is Lithium.
The discovery of 5.9 million tonnes of lithium reserves is a big deal for India as, in the recent course of time, India has been consistently looking to boost the supply of key materials like Lithium, which will be crucial for speeding up electric vehicle plans. The Indian government is making a proactive move to secure minerals like lithium.
Talking about India’s biggest discovery of Lithium deposits, Corpbiz Co-founder Narendra Kumar said, “India relies on import for minerals such as nickel, lithium, and cobalt. South American Countries including Bolivia, Argentina, and Chile holds the record of 50% of the deposits. Therefore, the news of lithium reserves in Jammu & Kashmir pulled the attention of a significant section of people. The penetration of Electric Vehicles is likely to witness a major turnaround in the next 5 years.”
Critical minerals are needed everywhere in all aspects of life. Ascertaining critical minerals and processing them is important, especially in order to become self-reliant.
“In comparison with nickel-metal hydride batteries and lead-acid batteries, the batteries made with the help of lithium & ions have higher energy densities. Thus, it is possible to make the battery size smaller in comparison with others and retaining the same storage capacity at the same time. Lithium is a significant metal used in manufacturing of electric vehicles. News of discovery of 5.9 million tonnes of lithium reserves has definitely brought smile on the face of EV manufacturers and EV manufacturing business enthusiasts.”He further added.
Narendra Kumar said, “The Electric Vehicle market in India is anticipated to see about 40% to 45% EV adoption for two-wheel vehicles and 15% to 20% EV adoption for four-wheel passenger vehicles by 2030. The future belongs to the green entrepreneurs. Thus, we are providing assistance to green business enthusiasts and helping them with environmental advisory services, environmental licensing, environmental consulting, and other services. Also, we help business owners in getting NOC from Pollution Control Board. Till now, we have served 5000+ green entrepreneurs and we are aiming to maximize the number in the upcoming 5 years. The electric vehicle industry in India is gaining momentum with 100% FDI possible. Leading players such as Mahindra Electric and Ola Electric Mobility have already strengthened their market position. We welcome the Indian green business enthusiasts and foreign investors to start electric vehicle manufacturing business and other businesses related to environment domain in India.”
