From lithium-ion to solid-state: Battery innovations that can revolutionize the future of EVs

New Delhi: Over the years, it has become a well-established fact that the battery industry is the key to ensuring a smooth transition from fossil fuels. This is why, in the next couple of years we can expect a sharp rise in the demand for advanced batteries driven by the need for upgraded technology and innovative solutions.

A 2023 report by McKinsey & Co highlighted that the global battery demand is projected to jump from 700 GWh in 2022 to a massive 4.7 TWh in 2030, driven by the advancements in the mobility sector. The Energy Storage Association predicted in 2022 that the requirement for battery storage in India would reach 160 GWh in 5 years. With India joining the global race to position itself as a leader in the EV ecosystem, it is embracing innovations to boost battery production to cater to the evolving requirements of the sector.