India has been striving to reduce its dependence on imported energy sources for several years now. The country’s push towards clean energy is reflected in its ambitious target to achieve 175 GW of renewable energy capacity by 2022. In this context, the discovery of large lithium ion deposits in India is a welcome development, as it has the potential to boost the country’s transition to clean energy sources.
Lithium ion batteries are the key components of electric vehicles (EVs), which are being increasingly adopted as a means of reducing greenhouse gas emissions from the transportation sector. According to a report by the International Energy Agency, EVs are expected to account for 60% of passenger car sales by 2040. However, the production of lithium ion batteries requires a significant amount of lithium, which is mostly imported from countries such as China, Australia, and Chile.
India, which is one of the world’s largest automobile markets, currently relies heavily on imported lithium ion batteries for its EVs. However, the recent discovery of large lithium ion deposits in the country is expected to reduce India’s dependence on imports and boost the production of locally-made lithium ion batteries. This will not only save foreign exchange but also create employment opportunities in the country’s manufacturing sector.
In addition to the automotive industry, the use of lithium ion batteries is also rapidly expanding in other sectors such as renewable energy storage, portable electronic devices, and grid-level energy storage. With the increasing demand for these batteries, India’s domestic lithium ion production can cater to the needs of these industries as well, reducing the country’s dependence on imports.
Apart from the economic benefits, the domestic production of lithium ion batteries can also have a positive impact on the environment. The production of lithium ion batteries is often associated with environmental degradation due to the mining of lithium, cobalt, and other metals. However, if done sustainably, the domestic production of lithium ion batteries in India can help reduce the carbon footprint associated with the transportation of these batteries from distant countries.
To conclude, the discovery of large lithium ion deposits in India has the potential to boost the country’s transition to clean energy sources, reduce its dependence on imports, create employment opportunities, and reduce the carbon footprint associated with the production and transportation of lithium ion batteries. However, it is important to ensure that the production of these batteries is done sustainably, with proper environmental safeguards in place.