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Driving India's EV Growth: Focus on Battery Reuse, Funding, and Skilling

StartupTalky

StartupTalky · 1y ago

Driving India's EV Growth: Focus on Battery Reuse, Funding, and Skilling

India's electric mobility sector is expected to continue its strong performance in 2024, despite global slowdown concerns. However, the industry is facing several challenges that need to be addressed. One major hurdle is the shortage of EV charging infrastructure, which hinders the growth of the sector. Another issue is the sourcing and recycling of EV batteries, as India heavily relies on imports and lacks a proper disposal system. The trucking industry also needs to transition to clean mobility, and funding and attracting a skilled talent pool are additional barriers. Overcoming these challenges is crucial for India's sustainable mobility sector to thrive.

Related News

India’s EV Start-up Funding Crosses $2bn Mark for the First Time in FY25

OutlookIndia

OutlookIndia · 1m ago

India’s EV Start-up Funding Crosses $2bn Mark for the First Time in FY25

India's EV start-ups have seen a significant increase in funding, surpassing $2.1 billion in FY25, compared to $1 billion in FY24. This marks a recovery after previous declines, despite fewer funding rounds. The industry's focus expands beyond vehicle manufacturing to include components, batteries, and logistics. Investor confidence is bolstered by falling battery prices and infrastructure support. However, experts stress the need for distributed funding and anticipate further growth if private equity investments increase.

EV startups attract investments, talent as others struggle

Economic Times

Economic Times · 1y ago

EV startups attract investments, talent as others struggle

Electric vehicle (EV) startups in India are defying the broader economic slowdown and attracting investments to fund their growth plans. With India's focus on sustainability and clean energy, these companies have aggressive hiring and funding strategies in place. Despite the overall slowdown in the startup sector, experts believe that EV startups are an outlier in terms of hiring and funding prospects.

EV Supply Chain Riskier Than Oil & Gas: NITI Aayog CEO

OutlookIndia

OutlookIndia · 3m ago

EV Supply Chain Riskier Than Oil & Gas: NITI Aayog CEO

NITI Aayog CEO B.V.R. Subrahmanyam highlighted concerns about India's dependence and concentration risks in the EV battery supply chain, which surpass those in the oil and gas sector. While India excels in battery pack assembly, it lacks upstream production of crucial ecosystem components and raw materials like lithium. To prevent unsustainable import dependency, a focus on building a science and innovation-based ecosystem is essential. The Battery Summit showcased innovative technologies and initiatives like Battery Aadhaar for enhanced traceability.

There's a shift in EV funding pattern, VC's are concerned

Inc42 · 1y ago

There's a shift in EV funding pattern, VC's are concerned

Investors are increasingly shifting focus away from electric vehicle (EV) manufacturers due to longer gestation periods, rising competition, and substantial capital requirements. Instead, they are directing attention towards allied sectors such as batteries, EV infrastructure development, and related segments. The Indian EV sector has garnered over $780 million in 2023, with more than 41% of deals involving non-original equipment manufacturers (OEMs). Investors are drawn to emerging areas like EV financing, charging infrastructure, and battery technology, seeing potential for innovation and scalability. Despite initial challenges, the EV sector continues to attract significant funding, fostering growth and innovation.

EV car sales penetration in India to cross 7% by FY28, says CareEdge

Economic Times

Economic Times · 1m ago

EV car sales penetration in India to cross 7% by FY28, says CareEdge

India's electric vehicle (EV) market is expected to see electric car sales penetration rise above 7% by fiscal year 2028, as per CareEdge Advisory. This growth hinges on resolving rare earth element disruptions and launching new models, alongside improved EV charging infrastructure. India's EV ecosystem has expanded significantly recently, growing from over 5,000 units in FY21 to over 107,000 by FY25, aided by initiatives like the FAME III scheme and production-linked incentives for battery localization.

PURE EV partners with BE Energy to launch battery reconditioning technology in India

YourStory

YourStory · 7m ago

PURE EV partners with BE Energy to launch battery reconditioning technology in India

Hyderabad-based electric two-wheeler manufacturer PURE EV has partnered with French climate-tech firm BE Energy to develop advanced lithium-ion battery reconditioning technology in India. This collaboration aims to reduce costs for EV owners and enhance sustainability by lowering the need for new batteries. The initiative supports India's 'Make in India' policy, with the first facility to be established in Hyderabad. The partnership underscores PURE EV's commitment to durability and BE Energy's focus on sustainability in the EV sector.

Urja Mobility Bags INR 100 Cr To Lease EV Batteries

Inc42 · 10m ago

Urja Mobility Bags INR 100 Cr To Lease EV Batteries

- Urja Mobility plans to use the capital to scale operations and expand their retail footprint and product portfolio. - The startup intends to raise an additional INR 250 Cr in the first quarter of 2025 to further scale up its retail network. - Urja Mobility was founded in 2023 and specializes in providing EV battery solutions. - The company offers battery leasing services to EV consumers and fleet operators based on a pay-per-use model. - The latest funding round will help propel the growth of Urja Mobility in the EV market.

US move to lift chip software curbs on China puts India on alert - The Economic Times

Economic Times

Economic Times · 1m ago

US move to lift chip software curbs on China puts India on alert - The Economic Times

The lifting of US restrictions on Electronic Design Automation (EDA) software sales to China prompts India to accelerate its chip design capabilities to remain competitive. Experts highlight potential challenges for India's semiconductor industry due to a more enabled Chinese market. India's focus should be on investing in R&D, intellectual property, and skilling to enhance its semiconductor ecosystem. Despite the competitive pressure, US-India collaboration and existing strengths in design provide opportunities for growth in the industry.

Exponent Energy Unveils 15-Minute Charging For Ebuses In Partnership With Veera Vahana

Inc42 · 12m ago

Exponent Energy Unveils 15-Minute Charging For Ebuses In Partnership With Veera Vahana

'Veera Mahasamrat EV' is the world's first electric bus on 2-axles, measuring 13.5 meters in length. Developed by EV startup Exponent, it is equipped with a 320 kWh battery pack and comes with a battery warranty of 6 lakh km or 3,000 battery life cycles. Exponent has also built India's third 1 MW charging technology, following in the footsteps of Tesla and Siemens.

Cloud Computing Fueling India's Journey Towards a $5 Trillion Economy

Business Bytes

Business Bytes · 1y ago

Cloud Computing Fueling India's Journey Towards a $5 Trillion Economy

Cloud computing is playing a crucial role in India's pursuit of achieving a $5 trillion economy. It is driving digital acceleration and revolutionizing various sectors such as healthcare, education, skilling, and financial inclusion. Cloud-based solutions are enhancing patient care, democratizing access to education, addressing skill development, and extending financial services to underserved populations. Experts believe that the transformative impact of cloud computing is instrumental in India's economic ambitions and has the potential to unlock new opportunities and drive growth.

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