Discovery of tonnes of Lithium Reserves in Jammu & Kashmir will surely change the future of battery making industry in India – mainly with the increasing demand of EVs or Electric Vehicles that are based on the Li Battery packs.
According to the reports approx 6 tonnes of lithium reserves in Reasi Area of J&K done by the Geological Survey of India cannot be garish.
Being acritical mineral for the energy transition as the major component of batteries that are used to power electric vehicles, Lithium reserves in the northern state of India will surely change the future of EV industry with the manufacturing of batteries at large level that can be exported to other parts of the world too.
It is a non-ferrous metal and one of the key parts in EV batteries. The demand for such batteries is increasing globally with a significant change in the vehicles – moving away from gasoline-fueled combustion engines to lithium, nickel, cobalt and other metals that go into lithium-ion batteries with increasing demand.
Total 51 mineral blocks are found and discovered in different states of India that include blocks of lithium, gold, and other blocks – pertain to commodities like potash, base metals and molybdenum – spread across 11 states like J&K, Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, MP, Odisha, Rajasthan, Telangana and Tamil Nadu.
What Is Government’s Plan after Founding Lithium Reserves in J&K
It is expected that the cost of EV will down in coming years – mainly with the bulk manufacturing of LI-ION batteries. The automotive sector has been expecting a change in the manufacturing process as they will no longer need to import batteries from other nations.
On the other side, the Central Government has already unveiled incentives of approx $3.4 Billion to expedite its lagging adoption of EVs. Prime Minister Shri Narendra Modi vows to reach net zero by 2070. Batteries are the costliest part of EVs – that will make the end product more affordable for the mass market. The country will be the biggest exporter of the batteries that will boost EV market to next level.
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