#China leads the charge in the #Lithium-ion manufacturing segment, #India playing catch up
#India is already on the backfoot when it comes to the crucial #Lithium ion battery manufacturing sector. Lithium ion batteries are the fastest growing storage solutions in particular for the mobility sector. Around 5 million electric vehicles are expected to be rolled out in India by 2020.
In 2011 the lithium ion battery market was pegged at about $10 billion. The market is expected to be worth $ 30 billion by 2020. India’s own demand for lithium ion batteries will grow by a compound annual growth rate of 32% between 2016- 2021.
