Only 10 Percent Of Lithium Is Enough For Electric Vehicle In India

Lithium Ion in Jammu and Kashmir: According to a news from Deccan Herald, out of the total 5.9 million tonnes of lithium reserves found in Jammu and Kashmir, only 10 per cent can be used to power 60 million electric vehicles, while there are only about 40 million vehicles on India’s roads. Means 1.5 times more than the existing number.

According to Awadhesh Kumar Jha, Executive Director, Fortum Charge & Drive India, electric mobility is the future. Lithium reserves found in Jammu-Kashmir and Rajasthan will make the transition to green energy much easier. The Geological Survey of India has discovered 5.9 million tonnes of lithium reserves in Reasi district of Jammu and Kashmir. At the same time, according to the information, the Union Cabinet on Wednesday gave the green signal to the amendment in the Mines and Minerals (Development and Regulation) Act, 1957, which will open the way for the auction of lithium reserves.

Mines Secretary Vivek Bhardwaj recently said that the auction for commercial exploitation of lithium reserves in Jammu and Kashmir is likely to begin by the end of this year.

Jha said that commercial exploitation of lithium reserves would make the transition to electric mobility easier and faster in India. Lithium, often referred to as ‘white gold’, is a non-ferrous metal and one of the essential ingredients used in EV batteries. A typical electric vehicle battery and a lithium-ion battery have about 8 kg. India is currently dependent on imports for its lithium-ion battery requirement. According to data shared by Union Minister Pralhad Joshi in Parliament last year, the import of lithium-ion batteries in India stood at Rs 8,811 crore in the financial year 2020-21. About 73% of which was done from China and 23.48% from Hong Kong, that is, about 96% of the lithium-ion batteries in India come from China and Hong Kong. Vietnam, Malaysia, South Korea and the United States are other producers of lithium-ion batteries. At the same time, there is a possibility of an increase in the import of lithium-ion batteries in the coming time, because the manufacturing of electric vehicles is gaining momentum in the domestic market. According to the government’s target, by 2030, at least 30 percent of the vehicles sold in the country will be electric vehicles, although at present this number is less than 1 percent.

Also Read – Tesla EV: With its own supply chain, Tesla is exploring options to come to India

Car Loan Information:
Calculate Car Loan EMI