Exide vs Amara Raja: Which EV Battery Manufacturer Will Lead The Market?
NDTV
Demand for EVs is growing. Thus the demand for batteries is grow too. Two established players dominate the industry. Find out which is better.
India is preparing to leap forward in developing cleaner energy sources. The electrification of transport is a top priority.
The demand for electric vehicles has been surging across India, doubling in the last three years. With 69,012 units of electric vehicles on road in 2017-18, the number has shot up to 167,041 units in 2019-20. The government has also been working relentlessly to boost demand in this segment.
In November 2020, it announced incentives worth Rs 3 lakh crore, encouraging sectors to boost local manufacturing and exports. Of this, Rs 18,000 crore was earmarked towards advanced cell/battery chemistry. This was to help bring at least 50 gigawatts of lithium-ion batteries into the market.
Apart from this, it also increased incentives for electric two-wheelers under the FAME-II scheme from Rs 10,000/kWh to Rs 15,000/kWh.
