Intellectual Thoughts by Sanjay Panda: electric vehicle


Showing posts with label electric vehicle. Show all posts
Showing posts with label electric vehicle. Show all posts

Customs Duty Exemption on Lithium & other rare minerals to Boost EV Sector Growth in India

 


The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers.

 Finance Minister Nirmala Sitharaman while presenting the Union Budget for 2024-25 proposed to fully exempt customs duties on 25 critical minerals and reduce Basic Customs Duty (BCD) on two of them.

This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors, she noted. Minerals such as Lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy, space, defense, telecommunications, and high-tech electronics, Sitharaman stated.

Exemption of customs duty on import of lithium, cobalt and other rare minerals and extension of concessional customs duty on Li-Ion cells till March 2026 and withdrawal of equalization levy of 2 per cent on e-transactions is expected to propel the growth of the Indian auto industry. .

The move is likely to encourage few players to indigenise battery production in India.The industry was not expecting a lot but was definitely looking for some announcements with respect to FAME III subsidies, and other direct benefits for BEV/ NEV (New Electric Vehicle). One  have to wait to see if there are any further relaxations in the future by the FM or by the GST Council.

The strategic move will significantly impact India's EV market by lowering production costs and enhancing competitiveness.

CATL launches a battery which can charge in Just 10 minute to replenish 600 KM range.

 


On April 25th, CATL  released the Shenhang PLUS battery, which is the world's first phosphate iron lithium battery to achieve a range of 1000 kilometers, and supports 4C ultra-fast charging, with the ability to replenish 600 kilometers of energy in just 10 minutes.

The  Shenhang PLUS battery uses independently developed three-dimensional honeycomb materials to improve the energy density of the negative electrode and control the volume expansion during charging and discharging. 

At the same time, it pioneers an integrated shell structure, greatly improving space utilization. The battery system is optimized on the basis of CTB 3.0, with a 7% increase in volume efficiency and an astonishing energy density of 205Wh/kg.


Indian Oil, Panasonic Energy enter pact to make lithium cells.

 


Indian Oil ,India’s biggest Oil company  announced that it has signed a binding term sheet with Panasonic Energy Co. to form a JV  for manufacturing cylindrical lithium-ion cells in India.

The deal was made in anticipation of demand for batteries for two-and three-wheel vehicles as well as energy storage systems, in Indian markets.

State-owned IOCL is aiming to achieve net-zero carbon emissions by 2046, aligning with the Indian government's plan to achieve net-zero for the country as a whole by 2070.

"Through its partnership with Indian Oil, Panasonic Energy aims to address environmental challenges, such as reducing CO2 emissions, as well as to contribute to establishing a complete supply chain ecosystem for improving India's self-reliance and fortifying India's position in the global energy landscape," it said.

This JV  will also lead to the growth of India's battery industry by enhancing cell technology and creating domestic demand for raw materials and new entrants.

"Leveraging its expertise in battery development and manufacturing, Panasonic Energy strives to contribute to the growth of the lithium-ion battery industry and India's energy transition, while pursuing its mission of helping to build a sustainable society," it said.

JSW likely to invest ₹40,000 cr to set up EV, Battery manufacturing & recycling facilities in Odisha

 

The JSW group, on on 10th Feb, 2024 , announced the signing of a memorandum of understanding (MoU) to set up an integrated electric vehicles (EV) and EV battery manufacturing project at Cuttack and Paradip via a 40,000 crore (approx $5B) investment.

The company plans to invest 25,000 crore in Cuttack for the electric vehicle and its battery manufacturing complex, while 15,000 crore will be invested in the EV components manufacturing complex in Paradip.

“By integrating our operations within Odisha's vibrant ecosystem, we aim to create a symbiotic relationship that benefits all stakeholders, fostering growth and innovation, and generating numerous high-skilled job opportunities. It's a testament to our belief in Odisha's potential and our dedication to contributing positively to its economic landscape," said Sajjan Jindal, chairman of JSW Group.


The project consists of a 50 GWH EV battery plant for both mobility & energy storage systems, commercial e-vehicles and passenger electric cars, auto components like e-powertrain, lithium refinery, copper smelter and related component manufacturing units.

 

The company will also set up an original equipment manufacturer plant for electric vehicles and components in the same integrated complex. This according to the company will be the world’s largest single-location project in the sector &  it is proposing to create 11,000 jobs from the project — 4,000 in Cuttack and 7,000 in Paradip.

 

This partnership, the company believes, not only underscores the state’s attractive investment climate but also the government’s strategic initiatives to position Odisha at the forefront of India's EV and green technology sectors. The state government of Odisha will support the initiative through a special package of incentives.

“We are keenly focused on leveraging the opportunities presented by the new age sectors, aiming to create high-skill job opportunities for the people of Odisha. Through our collaboration with the JSW Group, we are setting the stage for a future where innovation drives our industrial growth, ensuring that the youth of Odisha have access to the skills and jobs that will define the next generation of economic development," said Naveen Patnaik, Chief Minister of Odisha, on the occasion.

 

Reproduced from  Livemint 

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India acquires Lithium mining blocks in Argentina

 

India on 15th Jan 2024, announced the acquisition of five lithium blocks in Argentina.The Mines Ministry, through Khanij Bidesh India Limited (KABIL), signed an agreement with Argentina’s State-owned CAMYEN. 

The State-owned KABIL will start exploration and development of five lithium brine blocks, namely Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-2022-01810132, and Cortadera-VI, covering an area of about 15,703 hectares

With this agreement, KABIL has obtained Exploration and Exclusivity Rights for five blocks. The agreement will allow the State-owned entity to evaluate, prospect, and explore. Upon subsequent discovery of lithium minerals, exploitation rights for commercial production have also been granted. 

Its known Brine technology  has cost advantage over minerals. Things will  be further cost effective if DLE   deployed  instead  of age old  evaporation technology.

India’s lithium requirements, amounting to around ₹24,000 crore (~ $3B), are met through imports, with the majority of supplies coming from China.

Lithium, often called ‘white gold’, forms the cornerstone of the country’s transition to green energy options. It is used across various categories, including energy storage solutions, batteries for mobile phones, and in EVs. 

India's also in  preliminary discussions with Bolivia to acquire lithium assets.