GLOBAL SUPPLY CONSTRAINTS DARKEN INDIAN EV MANUFACTURING HORIZON
LOW MARKET SIZE REDUCES CLOUT OF LOCAL INDUSTRY IN GLOBAL MARKET
2022-07-31 11:51
-
A global crisis in the supply of lithium and other components is hitting the Indian EV industry even harder than other major markets. Apart from the high costs of imports, the relative low size of the Indian market is also affecting the industry’s capacity to negotiate. Although the EV sector in India is growing quite fast, the low market size is turning out to be a limiting factor. All major players are reportedly concentrating on bigger markets such as the US, Europe and China. Nearly 90 percent of the cells used in India are imported from China.