Exploring Cost-Reduction Strategies For Electric Vehicle (EV) Batteries

Undertaken By: Indian Council for Research on International Economic Relations ,    Recent Publication: 2020

Electric vehicle (EV) adoption in India faces several challenges, with the distinct cost disadvantage of EVs vis-à-vis traditional internal combustion engine vehicles bring a major one. The battery in an EV is its most expensive component, accounting for 50 per cent of its total cost; thus, the affordability of EVs is directly proportional to the affordability of a battery. The objective of the study is to design a comprehensive strategy and recommend a mix of policy instruments that could reduce battery costs and make EVs affordable and improve their uptake in India.