By 2030, India will allow only Electric vehicles on the road. India needs to bolster its battery capabilities by that time.

1. SOLAR OUTLOOK | 23-SEP-18
NITI AAYOG REPORT
ON ENERGY STORAGE

2. Contents
 Need for Energy Storage
 Current Trends & Future
 Challenges & Opportunities
 Market Impact

3. Need for Energy Storage
 India Target - 100 percent electric vehicle (EV)
sales by 2030 (UK by 2040, Norway 2025;
China 7 m by 20125)
 Key requirement to undertake the target- EV
batteries technology
 Expected Market size - $300 billion (2030) or
1/3rd of global EV battery demand
 Current value of Battery as % of value of the
EV – 30%
 Battery prices likely to go to 1/6th to $60 per
KWh by 2030
 Requirement for lithium – 60,000 tons for EV
(or ~ 1% of global reserves)
 Import requirement – Lithium, Manganese &
Cobalt
 Import costs – Manageable since oil imports
shall go down
Stage 1 Stage 2 Stage 3

4. Current Trends & Future
 2016 - Annual EV sales globally @
0.75 m (up 60% YOY)
 China Dominates – 45% of global sales
in China, 21% in USA.
 By 2030, 7% of all cars will be EV
 Electric car price = Petrol car in 2030
 Battery prices fell 70% since 2010
 Investment required - $125 billion
investment for battery manufacturing
alone.
 Shared services (Buses, EV rickshaw,
Cab aggregators etc) expected to lead
the change – Passenger km travelled
through shared services to increase to
23% from current 2%
Falling prices of batteries
EV sales in 2030

5. Challenges &Opportunities
 Raw Material supply challenge -
Lithium Ion batteries require Lithium,
Cobalt, nickel & copper. India will
need to import most.
 Capacities to manufacture Li-on
batteries in India limited at present.
Tata EV uses batteries from
Electrovaya (Canada). Suzuki has set
up a $350 m plant at Gujarat
 Reliance, Foxconn, M&M, JSW &
Octilion others who are in advanced
stages of setting up factories
 Given no prior experience, India will
need to be dependent on mostly
Chinese investments.
 The ecology of the development will
in all probability reflect that of the
Indian Solar Industry

6. Market Impact
Date Publication News
Sep 2017 Factorydaily.com India’s gigafactories: Reliance, Adani, Suzuki,
JSW, Hero in race to set up multi-billion dollar
battery plants
Sep 2017 Financial Express India Inc is planning a huge energy reset, as the
heavyweight companies including Reliance
Industries, Hero Motocorp, and Adani are
readying plans to enter battery manufacturing.
May 2018 Inc42 After Tata And Mahindra, Adani Enterprises To
Manufacture E-buses
May 2018 ET Energyworld Ensuring Lithium supply holds the key to India's
Electric Mobility plan
July 2018 Businessline Adani Group to raise Rs.6000 cr (partly to
finance foray in Li-ion storage)
July 2018 Businessline Bolivia offers its Lithium reserves to India

7. Thank You
 Saba Capital is an Arranger for the Solar Energy
Industry. We specialise in raising long term funds in INR
as well as in other currencies.
Saba Capital India
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