E-Rickshaw Battery Market Size and Top Companies
E-Rickshaw Battery Market Size and Top Companies

E-Rickshaw Battery Market Size and Top Companies

November 5, 2022

Nowadays, all we can see are electric rickshaws roaming the streets of India. Imagine a three-wheeled vehicle with such a simple structure ruling the electric vehicle field.

E-rickshaws are made up of an electric motor and a battery with a power range of 650 to 1400 Watts. The main advantage of EVs is that it saves on fuel costs, which are gradually rising, and it is far more convenient to use than a hand-pulled rickshaw, which has led to their popularity and acceptance in some cities since 2008.

The major part of the e-rickshaw is the battery. These days, lithium-ion batteries are the most common option due to their higher density and bottommost weight (35kg), availability, low cost, and long-lasting effectiveness for comfortable brides.

Hence, the overall performance and mileage are excellent. Our busy life does not allow us to wait till the battery is charged. Hence, li batteries are still rising as stars due to their short charging period (1.5–3 hrs.), with a little duration of 1500 cycles.

Current Status of Li-ion battery

In 2020, the market for e-rickshaw batteries in India was valued at $1.66 billion, and it’s expected to reach $4.85 billion by 2027. Currently, li-ion cells are imported to China or Taiwan to be assembled into batteries for India.

As of now, India neither has any known sources of lithium or cobalt nor does it have lithium-ion battery manufacturing capabilities.

The government wants to encourage the local manufacturing of lithium batteries through a battery chemistry-based FAME incentive and increments in import duties.

India Electric Rickshaw Battery Market:

The market for electric vehicle power packs is set to grow to $300 billion by 2030 (1), including a huge secondary market comprising more than 2.5 million e-rickshaws and 440,000 lead-acid battery-powered four-wheelers on the road today.

Many Big players in the automobile and energy space have started teaming up together and finding synergies to roll out li-ion battery manufacturing units for EV applications.

Let’s take a peep at some of the leading names involved.

Companies Investing Huge in battery manufacturing are:

Munoth industry ltd. –

The Chennai-based Munoth group is setting up India’s maiden li-ion cell manufacturing unit at a total investment of Rs 799 crore

TDS lithium-ion battery Gujrat Private LTD (TDSG)

TDSG is being set up in Gujarat by Toshiba Corp, DEMSO Corp, and Suzuki Motor Corp to supply lithium-ion batteries to Maruti Suzuki and Suzuki Motors Gujarat. 180 million USD has been invested between all three Japanese ventures.

Tata Chemicals

Tata has a plant site of 127 acres in Dholera, Gujarat for the manufacturing of active materials li-ion batteries of up to 10GW per annum. The process of commissioning a commercial piolet cell manufacturing by 2021, which based on market demand could expand to 3 to 5 GW by 2025, as the investment for seed is INR 800 crore and significantly more, as (ATL) and (MPL).

Top E-Rickshaw Battery Market Players Are:

Exide Industries Ltd.
Amara Raja Batteries Ltd.
Eastman Auto and Power Limited
Okaya Power Pvt. Ltd.
Jay Ace Technologies Ltd.
Gem Batteries Pvt. Ltd.
Luminous Power Technologies Pvt. Ltd.
Z-Power Impex Private Limited

Read More: Top Electric Rickshaw Manufactures

Indian Government Initiatives around li-ion batteries

The Faster Adoption and Manufacturing of Hybrid and EV (FAME) scheme was launched on October 22, 2021, and the government has extended it for another two years, until March 31, 2024, and increased the subsidy for e 21.1to 1.5 x.

Li-ion batteries definitely hold the future of India in mobility, energy storage, etc., which would further be complicated by companies who are focused and inclined towards the adoption and integration of new advanced technologies such as solid-state li batteries through new and sophisticated manufacturing processes, which would offer flexibility and scalability.

The post E-Rickshaw Battery Market Size and Top Companies appeared first on E-Vehicleinfo.

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