#China leads the charge in the #Lithium-ion manufacturing segment, #India playing catch up

Posted on May 10, 2017 by Nanthakumar Victor Emmanuel, P.Eng. COO, CVMR Corporation Leave a comment

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#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.