Indian Oil, Panasonic Energy sign deal to make lithium-ion cells in India
Indian Oil is anticipating a rise in demand for batteries for two- and three-wheeler vehicles and energy storage systems in the Indian market
Indian Oil is anticipating a rise in demand for batteries for two- and three-wheeler vehicles and energy storage systems in the Indian market
The government has now decided to specify a reasonable royalty rate of 2-4% on these minerals.
Battery recycling startup Lohum expects the government to reduce the goods and services tax (GST) on waste lithium-ion batteries from 18% to 5%.
The deal boosts India's quest for sourcing lithium.
The concentration of extraction or processing of such minerals in a few countries may lead to supply chain vulnerabilities, says Ministry of Mines.
Country takes steps to secure supplies of strategic lithium, cobalt, nickel, molybdenum, vanadium and light rare earth elements. But it promises to be a long and arduous journey.
One of the major reforms proposed in the Bill is the removal of "lithium-bearing minerals" from a prohibited list.
Gujarat gigafactory will ensure 'political de-risking' and control of the whole supply chain, says Tata Motors
GSI says it's carrying out exploration for "tungsten, lithium, and associated rare metals" in Nagour, Rajasthan, but drilling work is still on
Lithium-ion batteries used in hybrid and electric vehicles saw import prices rising to $1,791 million for 5,486 lakh units during April-November 2022 period.