ELECTRIC VEHICLE INDUSTRY ANALYSIS
First part
Everyone is interested in Electric Vehicles, all of you want to know and everybody talking about it. You
want to know the future industry opportunities and challenges. Also, you want to know the companies
directly or indirectly connected to this Electric Vehicle (EV) segment. In this article we will discuss this
topic in detail so you have the full information concerning Electric Vehicles or companies which are
traded on the stock market and have focus on the EV segment.
INDIAN AUTOMOTIVE INDUSTRY
The Indian Automotive industry is today amongst the fastest growing automotive industries globally,
because of its deep forward and backward linkages with the rest of the industry, it has a strong multiplier
effect and is one of the major drivers for economic growth.
With the gradual liberalization of the automobile sector in India since 1991, the number of manufacturing
facilities has grown progressively. The Indian automotive industry produces a wide variety of vehicles:
passenger cars, light, medium and heavy commercial vehicles, multi-utility vehicles such as jeeps, two
wheelers that include scooters, motor-cycles and mopeds, three wheelers, tractors and other
agricultural equipments.
The Indian Automobile industry is dominated by two wheelers, which account for approximately 80%
of the total vehicles sold in the country. On the other hand, passenger vehicles segment accounts for
about 15% of total automobile industry of the country. India is also a flourishing automobile exporter to
its neighbouring countries such as Africa, Bangladesh and Sri Lanka among others and also has robust
export progression prospects for the nearby future. In the passenger car segment, India is mainly a
small car market. The India automotive industry accounts for 7.1% of the country's total Gross Domestic
Product (GDP). Additionally, the India automotive industry is anticipated to observe major changes in
the form of electric vehicles (EVs), shared mobility, Bharat Stage-VI emission and safety norms which
will significantly influence the growth of automobile industry in the country
ELECTRIC VEHICLE SECTOR
The electric vehicle industry in India is a growing industry. The central and state governments have
launched schemes and incentives to promote electric mobility in the country and some regulations and
standards are also in place. While the country stands to benefit in a large way by switching its transport
from IC engines to electric motor-powered, there are some challenges. Still, e-commerce companies,
car manufacturers, app-based transportation network companies and mobility solution providers have
entered the sector and are slowly building up electric car capacity and visibility.
India will be a manufacturing hub for electric vehicles within the next five years, adding that several
countries do not want to deal with China after the COVID-19 crisis, which can be an opportunity for
India. China has so far been on top in terms of electric vehicle production in the world with it producing
over 80 percent of all EVs globally. The country has the fourth largest reserves of lithium in the world
hence giving it a monopoly in the lithium-ion cell market. Lithium-ion battery packs are currently used
the most for powering from small electric two-wheelers to electric commercial vehicles.
India unveiled the 'National Electric Mobility Mission Plan 2020' in 2013 to address the issues of
National energy security, vehicular pollution and growth of domestic manufacturing capabilities.
Reiterating its commitment to the Paris Agreement, the Government of India has plans to make a major
shift to electric vehicles by 2030.
CHALLENGES FACED
• Lack of Charging infrastructure
The charging infrastructure for electric vehicles in India has not been fully developed yet. The
Government of India has declared public charging stations and EV charging businesses as a de-
licensed activity. The government has laid down that there should be at least one charging station in a
grid of 3 km x 3 km in cities and one station every 25 km on both sides of highways. This coverage is
to be achieved in cities with a population of more than 4 million and all existing expressways and
important highways connected to these mega cities by 2022.
The second phase (3 to 5 years) will cover big cities like state capitals and UT headquarters. There
have been initiatives to set up community charging stations, as in the case of Plugin India facilitated
charging stations.
Charging infrastructure, mainly setting up of level 2 charging at public level shall be the toughest
challenge in terms of service integration for India. For normal charging, the charging time poses a
serious problem as it ranges from 6 to 8 hours whereas for fast DC charging; cost & high renewable
energy are the biggest factors which could pose a problem.
• Upfront cost
The cost of EVs is very high mainly due to the cost of Li-ion cells. The battery packs are imported and
cost a lot, about $275/KWh in India. This combined with the GST of 28% and the lack of lithium in India,
further increase the cost of batteries. Most EVs in India provide a range of 110 km and cost between
Rs 6-8 lakhs which does not give a cost advantage compared to higher range cars in the same price
range.
• Lack of renewable energy and grid infrastructure
In India electricity is mainly produced by burning coal, which produces a great amount of greenhouse
emissions. With the introduction of EVs and charging infrastructure, the electricity demand will go up a
lot and the whole point of introducing EVs to reduce GHG emissions would be ineffective, if all this
electricity was produced by burning coal. Moreover, India’s Distribution companies hold debts and are
unable to suffice the energy requirement of the whole country adequately. If EVs were to enter this
equation, the sudden increase in electricity requirement would put extra load on these companies.
Moreover, there are a lot of factors that would go into deciding pricing of the electricity as well the
demand on the grid.
OPPORTUNITIES
• Government procurement on electric vehicle
The Government released a two-pronged strategy aimed at both buyers and manufacturers, in which
it offers $1.4 billion in subsidies to buyers, while imposing a hike on import tariffs to increase
manufacturing of these vehicles by domestic companies. Energy Efficiency Services Limited (EESL) is
procuring 10,000 number of Electric Vehicles from reputed manufacturers for distribution to
Government Departments on rental model and upfront sale model. EESL's tender of 10,000 number of
EV's has reduced the cost of EV's substantially.
National Electric Mobility Mission Plan, 2020
The National Electric Mobility Mission Plan, 2020 was launched by the Government of India in year
2012 with the aim of improving the national fuel security through the promotion of hybrid and electric
vehicles. Auto industry contributes 22% to the manufacturing GDP. From the help of new Manufacturing
Policy, contribution of manufacturing in overall economy will increase to 25% by year 2022.
• Taxi service companies
Taxis and cabs are becoming a major part of public transportation these days. As technology advances,
taxi services are being smoother and cheaper. People prefer taxis for long as well as short trips. The
emergence of online taxi services is a prime contributor to this change in preference. Taxis can be
considered as a boon and a bane. On one hand it is a help for the people and on the other hand, it is
the major partaker in environmental air pollution. The main contributors of these pollutants are petrol
and diesel.
Electric cars reduce the major problem of pollution. As it does not cost much for the electric car to run,
it will be beneficial for the drivers and the riders. Owners have the advantage of very low running cost.
In terms of maintenance, electric vehicles are much cheaper than the conventional diesel and petrol
vehicles. An electric vehicle has just one moving part i.e.; the electric motor. Instead, conventional
vehicle requires a great deal of maintenance, starting from frequent oil changes to exhaust system
repairs which have to be carried out accurately.
• Reduction in upfront cost
The Government is mainly focusing to electrify public transportation as the subsidies, mainly available
for two-wheelers, three-wheelers, and buses. This policy also earmarks $140 million to develop
charging infrastructure which should further help the development of the EV industry in India.
The government also believes that an all-electric, zero emission cars is the right choice for the country.
The Government rewards you with a wide range of tax exemptions and benefits when you buy these
cars. The government has announced for about 12% tax reduction on electric vehicles with the roll-out
of GST and INR 124,000 as incentives to achieve 100% electric vehicles by 2030.
• Strict emission norms
Bharat stage emission standards (BSES) are emission standards instituted by the Government of
India to regulate the output of air pollutants from compression ignition engines and Spark-ignition
engines equipment, including motor vehicles. The standards and the timeline for implementation are
set by the Central Pollution Control Board under the Ministry of Environment, Forest and Climate
Change. Electric vehicles reduce the pollution through low emission or zero emission.
• Government FAME 2 Scheme
The Government started Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME)
scheme which provides incentives for purchasing electric vehicles. Phase I of the scheme lasted from
2015 to 2019, while Phase II began in 2019 and is planned to be completed in 2022.
Government is releasing tenders to increase charging infrastructure in the country. The scheme offers
incentives to the electric and hybrid vehicles ranging from Rs.1,800 to Rs.29,000 for scooters and
motorcycles and Rs.1.38 Lac for cars. FAME is a part of National Electric Mobility Mission Plan by
Government of India.
• Charging infrastructure
There are companies like Tata Power, NTPC and others which are engaged in the business of electric
vehicle charging. They have already installed all varieties of chargers - rapid DC chargers and level 2
AC chargers for all kinds of applications - public access, workplace charging, fleet charging, residential
communities, malls, highways etc and have large plans to scale up.
Second part
Here we will discuss about listed companies which are directly or indirectly linked to the industry.
Category 1
Auto manufacturing companies that produce electronic vehicle
• TATA MOTORS LTD.
• MAHINDRA & MAHINDRA LTD.
• HERO MOTOCORP LTD.
• BAJAJ AUTO LTD.
• TVS MOTOR COMPANY LTD.
• OLECTRA GREENTECH LTD.
• ASHOK LEYLAND LTD.
TATA MOTORS LTD.
► Tata Motors is engaged in the business of designs, manufactures and sells a wide range of
automotive vehicles.
► Tata Motors-owned luxury carmaker Jaguar Land Rover recorded its second successive quarter-
on-quarter recovery with retail sales growing 13% to 128,469 vehicles. But the most significant part
about the quarter was that over 50% of its retail sales came from electric vehicles (EV), which
includes Land Rover Discovery Sport and the Range Rover Evoque.
► The company's overall share of electric vehicles in its 2020 sales to 43.3%
► It remains committed to its electrification strategy and has a growing portfolio of electrified Jaguar
and Land Rover vehicles — extending to 12 models across its portfolio. JLR also plans to continue
with the rollout of its new range of 21 Model Year vehicles.
► TML launched the Nexon EV, powered by the state-of-the-art EV technology ‘ZIPTRON’, a high
voltage, high performance technology designed specifically for Indian conditions by leveraging
TML’s global engineering network. The Tata Nexon EV compact SUV clocked 2,200 units in sales
in just ten months since its launch and is the best-selling electric car in India.
► Key highlights of ZIPTRON include a zippy driving experience, long range, fast charging capability,
eight years of battery and motor warranty, and IP67 waterproof and dustproof rating.
► The company has a slew of EV launches lined up for the year ahead — from Tata Altroz EV to Tata
Tiago.
► TML has partnered with Tata Power to proactively address the challenge of charging and
collaborated with Tata Chemicals for manufacturing lithium-ion battery cells, exploring active
chemicals manufacturing and battery recycling.
► TML has also collaborated with Tata Auto Comp for the localisation of battery pack assembly and
motor assembly.
► TML showcased the Tata 4/12 m low floor entry electric bus – the first full-electric drivetrain.
► The Company has also bagged the biggest electric bus contract in India, by Ahmedabad Janmarg
Ltd. Tata Ultra Urban 9/9 Electric AC Bus will run in the Ahmedabad’s BRTS [Bus Rapid Transit
System] corridor.
► The Tata Ultra T.7 Electric was also on display, as India’s first-ever intermediate commercial electric
truck.
MAHINDRA & MAHINDRA LTD.
► Mahindra & Mahindra is an India-based mobility products and farm solutions provider. The
Company's segments include Automotive, Farm Equipment, Financial Services, Real Estate,
Hospitality and Others. Automotive segment comprises of sale of automobiles, spares, mobility
solutions and construction equipment.
► Mahindra EVs have already completed over 250 million electric kilometres on Indian roads.
► Treo, their electric 3-wheeler, crossed 4,000 in volume and is now present in 70+ cities.
► The Company is the pioneer for Electric Vehicles (EVs) in India, and for the year under review, sold
[along with its subsidiary Mahindra Electric Mobility Limited (MEML)] 14,602 EVs (966 four wheelers
and 13,636 three wheelers) as against 10,276 EVs (1,811 four wheelers and 8,465 three wheelers)
in the previous year.
► Company successfully exported first lot of ‘Made in India’ electric two-wheeler E-Ludix, to its
subsidiary Peugeot Motocycles in France.
► Specifically, on the front of electric vehicles, the Company is investing over Rs. 500 crores in its
Electric Vehicle (EV) Project under the new EV Policy of the Government of Maharashtra. This
investment will be utilised towards product development and capacity enhancement for electric
vehicles and related components.
► The Company offers a wide range of EVs, which includes the eVerito car, Supro EV
cargo/passenger vans and two models of e3W - the e-Alfa and the Treo.
HERO MOTOCORP LTD.
► In 2016, we invested in India’s best two-wheeler EV start-up – Ather Energy. Ather, an Indian electric
vehicle company, went on to launch its own product and currently has two offerings – Ather 450 and
Ather 450X. They have already established EV charging infrastructure in Bengaluru, Chennai and
expanding to other cities.
► Developing innovative EV concepts through an internal start-up - HeroHatch. An agile start-up, with
11 driven youngsters chosen from within their teams through an exhaustive selection process.
► Company’s sprawling CIT campus in Jaipur, India is a one-of-its-kind facility, home to all facets of
R&D initiatives including advanced facilities for new product design, prototype manufacturing,
testing and validation.
► Their engineers at HTCG Germany and CIT India are developing an in-house electric product.
► At the annual stakeholder day at CIT facility in Jaipur, they presented multiple new products, and
opportunities that Hero could address in the future. At the show, they showcased connected
technology, the prototype of our internally developed electric scooter, products specifically
developed for export markets and new world mobility solutions.
BAJAJ AUTO LTD.
► Bajaj Auto is engaged in the business of development, manufacturing and distribution of
automobiles such as motorcycles, commercial vehicles etc. and parts thereof.
► Re-introduced the Chetak as a best-in-class electric scooter with an iconic design
► R&D has invested in creating a state-of-the-art electric vehicle (EV) test facility in FY2020. This new
laboratory will be pivotal in our thrust into the EV space. Every component and aggregate in the EV
system can be tested for performance and durability at the new facility.
► Bajaj Auto has done a strategic investment in Yulu Bikes. Yulu is a Bengaluru-based start-up
Company in India which operates in lithium battery powered electric two-wheeler, bicycle space and
owns a dockless bike sharing platform. It is focused on sub 5 km first and last mileconnectivity.
► As a value addition for the customers, BAL also provides the option of installing the charging system
at the residence of customers via its installation partner.
TVS MOTOR COMPANY LTD.
► TVS Motor Company is engaged in the business of manufactures two wheelers, three wheelers,
parts and accessories.
► The Company forayed in the electric vehicle space with the launch of its first electric Scooter, TVS
iQUBE. The product came with 58 exciting features, with many 'Industry-first' elements like Geo-
fencing, Ride Statistics, Telematics, Remote Charge Status and Navigation Assist, all brought
together to give the customer an overwhelming connected experience.
► With a top speed of 78 kmph, a range of 75 Km in a single charge and features like Q-Park Assist,
the TVS iQUBE redefines style, comfort and riding experience. A dedicated public charging
ecosystem spanning across 10 dealerships in Bengaluru further enhances customer ease and
experience.
► The Company has invested in R&D for production of Electric Vehicles (EV).
OLECTRA GREENTECH LTD.
► Olectra Greentech is engaged in the Business of Power Insulators and Electric Bus.
► During the Financial Year 2019-2020, the Company has recorded sale of 155 Electric Buses against
the sale of 83 Electric buses in the Financial Year 2018-19, at a growth of 86.75% and Company
has been awarded with orders for 775 Electric Buses against order for 160 Electric Buses in the
Financial Year 2018-19 at a growth of 384.37%.
► Through the Electric Vehicles Operations, the Company reduced more than 11,500 tonnes CO2 in
tailpipe emission, during the year.
► In FAME-II, Olectra has bagged order for 775 Electric buses for various STUs across in India. The
presence of Olectra Electric Buses in India will be increasing with the on-hand orders available.
With this the number of Vehicles in India will cross more than 1000 numbers, first for any OEM in
India. Olectra EVs have crossed more than 2.5 Crores Kilometers in India roads.
► The Company also focused on localization of EV Components to reduce the logistics costs and to
develop the vendors locally.
ASHOK LEYLAND LTD.
► Ashok Leyland's is engaged in the business of manufacture and sale of a wide range of commercial
vehicles.
► Company is also making inroads into the electric vehicle segment in buses locally here as well as
in the London market through the Optare range and Fleet of Electric Buses operational in
Ahmedabad.
► Flash Charge version of Electric Bus is on their future plan of action.
Category 2
Lithium-ion components and manufacturing companies
• HIMADRI SPECIALTY CHEMICAL LTD.
• HINDUSTAN COPPER LTD.
• EXIDE INDUSTRIES LTD.
• TATA CHEMICALS LTD.
• MANGANESE ORE INDIA LTD.
HIMADRI SPECIALTY CHEMICAL LTD.
► Himadri Speciality Chemical Ltd was established in 1990. The Company is a market leader and a
significant player in multiple product segments like:
► Advanced carbon material: Advance Carbon Material is a high quality anode material used for
Lithium-ion batteries which power Electric Vehicles (EVs) , consumer devices like smartphones, and
energy storage devices.
► Coal tar pitch: It is critical material used as a binder for manufacturing aluminium anode and graphite
electrode. It helps increasing strength, density, and electrical conductance, which results in more
durable and superior grades of electrodes. Need for light and durable metal in automobile industry
is a major growth driver.
► Carbon black: Carbon Black for rubber is vital for enhancing the strength of tyres and other rubber
products. It enables the long-term performance of rubber in tyres, hoses, weather stripping and
other key end uses
► Speciality carbon black: Speciality Carbon Black is high performing ingredient with a range of
plastics applications such as food packaging, synthetic fibre, wire & cable, and many more. It is also
used to enhance inks, paints, and coatings. This is a more premium version of the carbon black
which can be used to manufacture premium tyres in the automobile industry making it to sustain
demand for a long future.
► These products mentioned above can play a key role when it comes to the automobile industry as
a whole. Their Advanced carbon material can be a game changer for the company as they are the
only producer in India. They produce both natural and synthetic variants of graphite which are used
in lithium-ion batteries. So, this company can definitely be benefited from the uprising EV demand
in India. There are also studies being conducted globally on developing graphene batteries which
can be a revolutionary move in the battery segment, and the main component used is graphite, then
the company could branch even further heights in the industry. Also the company has a much
diversified portfolio of products which can help the company to sustain their presence in the Indian
market.
HINDUSTAN COPPER LTD.
► Hindustan Copper Limited (HCL), a public sector undertaking under the administrative control of the
Ministry of Mines, was incorporated on 9th November 1967. It has the distinction of being the
nation’s only vertically integrated copper producing company as it manufactures copper right from
the stage of mining to beneficiation, smelting, refining and casting of refined copper metal into
downstream saleable products. The Company markets copper cathodes, copper wire bar,
continuous cast copper rod and by-products, such as anode slime (containing gold, silver, etc.),
copper sulphate and sulphuric acid.
► Copper demand is expected to grow at 7% -8% in India. Growing demand from power sector in view
of Government laying thrust on renewable energy and increasing demand from the households for
consumer durables will increase demand for copper in India. Manufacturing of electric vehicles (EV)
will also augment consumption of copper as EV use four times more copper than traditional internal
combustion engines. Copper is essential to EV technology and its supporting infrastructure and the
evolving market will have a substantial impact on copper demand.
► The market for electric vehicles (EV) is expected to witness growth in coming years as government
incentives continue around the world. Copper is essential to EV technology and its supporting
infrastructure. The evolving market will have a substantial impact on copper demand. The increase
in the electric vehicles market will significantly impact copper. The projected demand for copper due
to electric vehicles is expected to increase by 1,700 kilotons by 2027.
► All types of EV require a substantial amount of copper. It is used in batteries, windings and copper
rotors used in electric motors, wiring, busbars and charging infrastructure.
► The Ghatasila copper smelter (a part of the Indian Copper Complex) of the Hindustan Copper
Limited is the first and the only unit in India to produce nickel of LME grade. Nickel is also having a
great proportion in a lithium-ion battery. This also gives them a clear-cut edge over others.
► Copper’s use in electro-mobility may become even greater with the emergence of energy
independent vehicles (EIV) that use copper-powered solar photovoltaic panels to harness
renewable energy.
► EV can reach 80% of its full charge in as little as 20 minutes. Superchargers rely on copper to be
as electrically efficient as possible. And By 2030, over 20 million EV charging points will be deployed
globally, consuming over 250% more copper than 2019.
► Copper’s use in Electric Vehicles
Each type of EV uses considerably more copper than traditional vehicles with internal combustion
engines. Copper usage for each vehicle type is listed below:
o Internal combustion engine: 23 kg of copper.
o Hybrid electric vehicle (HEV): 40 kg of copper.
o Plug-in hybrid electric vehicle (PHEV): 60 kg of copper.
o Battery electric vehicle (BEV): 83 kg of copper.
o Hybrid electric bus (Ebus HEV): 89 kg of copper.
o Battery-powered electric bus (Ebus BEV): 224–369 kg of copper (depending on the size of the
battery).
► With increasing demand for copper in the EV industry gives the company an upper edge among its
competitors and can witness an inorganic growth in the coming years.
EXIDE INDUSTRIES LIMITED.
► Exide Industries Limited (Exide) is a leader in energy storage and management solutions. It is the
only company in the world manufacturing the lead acid industry’s most comprehensive range of
products and services. Exide designs, manufactures, markets and sells the widest range of lead
acid storage batteries in the world from 2.5Ah to 20,600Ah capacity, to cover the broadest spectrum
of applications. Using the latest technological inputs, we manufacture batteries for the automotive,
power, telecom, infrastructure projects, computer industries, as well as the railways, mining and
defence sectors
► Exide Leclanche Energy Private Limited is the new-age JV between India’s largest battery
manufacturer, Exide and Europe’s leading energy storage solutions provider, Leclanché. The JV is
well placed with an automotive quality certification, a robotised assembly line and a production scale
of 1.5 GWh, to take a leading position in the lithium-ion battery market in India.
► 6 production lines have been ordered for battery pack assembly for cylindrical, prismatic and pouch
cells. The first line is operational and brings the world-class Leclanché technology to India. Other
lines are on their way and the last one is expected to be in place by November 2020. The JV has
set up an R&D centre in Bengaluru where several product development programmes are underway.
Many pilot orders have been collected from multiple automotive OEMs, as well as large telecom
operators, UPS manufacturers and solar PV companies.
► Exide, Leclanché and Tata Power jointly worked and collaborated to advance a R&D pilot
community Battery Energy Storage System (BESS) project, which included an initial installation and
operation of a grid-connected BESS. This BESS uses lithium-Ion batteries and has a power rating
of 150kW with a nameplate capacity of 528 kWh that is mounted in a 20-feet container on site at a
substation of Tata Power in New Delhi. The project will cater to applications like peak shaving,
deviation settlement mechanism loss minimisation, aggregate technical & commercial loss
reduction, transmission & distribution asset life extension, frequency & voltage regulation and more.
► The company has been developing advanced energy storage modules for applications in EVs and
the telecom sector, in the lithium chemistry domain
► Launched Exide Neo, a dedicated e-rickshaw brand, to demonstrate our technology capability in
the promising EV market
► Continued to be the major supplier of lead acid batteries to EV manufacturers in India andensured
a strong pipeline of business – on account of EV models under development
► Amara raja batteriesLtd.is an emerging competitor.
TATA CHEMICALS LTD
► A part of US$ 113 billion Tata Group, Tata Chemicals is a globally leading multinational company
employing over 4,600 people and present in 40+ countries. In our eight decades of existence, we
have brought to the fore our knowledge and expertise in science to develop innovative products that
provide a competitive edge to our customers and have positively impacted the society. We enjoy a
strong and established position globally in inorganic and crop protection chemicals.
► Their energy sciences is a product line that is focused towards the electric vehicle industry. Their
focus is in building on technologies in Lithium-ion battery/cell manufacturing and Next Generation
chemistries. Capitalizing on the emerging opportunities in electric vehicles and stationary
applications, with circular economy concept around Lithium-ion technology - active materials
manufacturing, cell & battery manufacturing and recycling critical materials from used batteries is
one of their key value driver.
► They have started collaborating with leading global battery makers for contemporary and next
generation chemistries and Indian research institutes (ISRO, CSIR-CECRI). They have signed a
Memorandum of Understanding (MoU) with the Indian Space Research Organization (ISRO) for
transfer of ISRO’s lithium-ion cell technology. The Vikram Sarabhai Space Centre (VSSC), a part
of ISRO, has developed the technology to produce space-grade lithium-ion cells of various kinds,
to power its rockets and satellites. Also, recently they have reported that the technology was
transferred.
► Recently, TATA Chemicals Ltd has started India’s Biggest Lithium-Ion Battery Plant in Dholera
to compete with the Chinese. They have invested Rs 4,000 crores for setting up a lithium-ion
battery plant in Dholera Special Investment Region (DSIR) in Gujarat. TATA has already
acquired a land parcel of 126 acres in Dholera. Tata Group Company is likely to seek incentives
under the PLI scheme and may export cells from India.
► They are also planning to build 1 GWh cell line by 2021 with technology from a global leader.
► Scaling Lithium-ion battery recycling operations is also one of their near-term targets.
► They are also strategizing about setting up pilot line to manufacture cathode active materials.
► They also have got a unique opportunity to build a truly circular economy around Lithium-ion
technology starting from active materials, to cell and battery manufacturing and finally to
recycling critical materials from used batteries
► Bharat heavy electricals Ltd. is an emerging competitor.
MANGANESE ORE INDIA LIMITED
► MOIL, being India's largest manganese ore producer, accounts for about 48% of the country's
production. With about 93.06 million tonnes of reserves and resources of manganese ore, it is well-
positioned to capitalize on India's steel demand growth, given its dominant position, medium to high-
grade ore reserves, centrally located mines and strong and expanding customer base.
► A lithium-ion manganese oxide battery (LMO) is a lithium-ion cell that uses manganese dioxide,
MnO2, as the cathode material. They function through the same intercalation/de-intercalation
mechanism as other commercialized secondary battery technologies, such as LiCoO2. Cathodes
based on manganese-oxide components are earth-abundant, inexpensive, non-toxic, and provide
better thermal stability.
► In order to meet the future requirement and maintain leadership in the industry, MOIL has planned
to enhance its production from present level of ~ 1.30 million MT to 2.50 million MT by 2025 and
3.00 million MT by 2030
► MOIL is engaged in exploration, exploitation and marketing of various grades of manganese ore
and value-added products such as Electrolytic Manganese Dioxide (EMD). It is also used in battery
cathode mixes and electronics. There is promising potential to use MnO2 in solid state lithium-ion
batteries for automobiles. MnO is used in ferromagnetic ferrites and as a catalyst.
► There will be a significant growth in the manganese market due to its applications in clean energy.
More specifically, we anticipate the growing use of nickel-metal hydride (NiMH) electric vehicle
batteries and lithium-ion (Li-ion) batteries to be major catalysts for manganese demand.
► The newest up-and-coming technology to use manganese is the so-called lithiated manganese
dioxide (LMD) battery. A typical LMD battery uses 61% of manganese in its mix and only 4% lithium.
LMDs have numerous benefits, including providing higher power output, thermal stability, and
improved safety compared to regular lithium-ion batteries.
► LMDs are already in production, and are currently used in electric cars like the Chevy Volt and
Nissan Leaf. These cheaper electric cars, as opposed to the narrower luxury-segment that Tesla
operates in, should be a significant part of the budding clean energy revolution.
► On the technology side, electric vehicles, off-the-grid power systems and other energy storage
applications will require significant amounts of high-quality manganese. These all will boost the
demand for manganese in India in the future years to come.
Category 3
Electric charging infrastructure companies
• TATA POWER
• ABB LTD.
• NTPC
TATA POWER
► Tata power is India’s largest integrated power company, their business includes renewable energy
generation, transmission, EV charging infrastructure, Manufacturing, Conventional energy
generation, Distribution, Solar Water pump, solar rooftop, Solar EPC projects.
► Tata Power is a strong supporter of the government's National Electric Mobility Mission. Being part
of the Tata Group enables them to derive synergies from other group companies, particularly Tata
Motors’ planned roll-out of electric cars. Starting from their first EV charging station set up in
Mumbai, they have set up 170 EV charging points across 20 cities including Mumbai, Pune, Delhi,
Bengaluru and Hyderabad as on 31st March,2020. they are also located at Tata Motor dealerships
and retail outlets of other Tata Group Companies like Croma, Star Bazaar, Titan among others.
► As part of the customized solution, they have partnered Prakriti E-mobility Solutions, an app-based
EV service provider, to provide charging infrastructure and support their EV taxi fleet in Delhi and
NCR. As part of the agreement, Tata Power will design, procure, install and manage all charging
infrastructure – which will see installation of about 50 charging stations near Delhi airport, Gurgaon
and North Delhi.
► They have also joined hands with Jaguar Land Rover (JLR) to provide end-to-end EV charging
solutions. They will facilitate the installation and management of chargers across JLR’s retail
network of 27 outlets in 24 cities and at their customers’ residence or office.
► To enhance Their portfolio and strengthen cross-industry partnerships, they have signed a
memorandum of understanding for setting up commercial EV charging stations with Hindustan
Petroleum Corporation Ltd., Indian Oil Corporation Ltd. and Indraprastha Gas Ltd.
Highlights of Tata Power’s EV charging infrastructure
• Diverse charging standards and specifications
• Different EV vehicle categories and manufacturers
• Variety of use-case scenarios — EV fleet solutions, commercial spaces and office charging,
public charging etc.
• Charging infrastructure set up across 20 cities, including Mumbai, Pune, Delhi, Bengaluru and
Hyderabad
• Smart charging with Tata Power Mobile
• Last-mile charging
ABB LTD
► ABB is a leading global technology company that energizes the transformation of society and
industry to achieve a more productive, sustainable future. By connecting software to its
electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology
to drive performance to new levels.
► Electrification segment provides technology across the full electrical value chain from substation to
the point of consumption, enabling safer and more reliable power. A range of digital and connected
innovations for low- and medium-voltage, including EV infrastructure, solar inverters, modular
substations, distribution automation, power protection, wiring accessories, switchgear, enclosures,
cabling, sensing and control
► The consolidation of their low and medium voltage solutions of digitalization offerings for Indian
buildings will create a new customer experience and render next level building management
efficiency. TrueOne ATS, Compact MCB, UMC Relays, Terra EV Chargers, Relion Relays,
Wavepro Busways are some of their products which have served the customers in 2019 also,
creating value for their installations.
NTPC
► NTPC is India’s largest energy conglomerate with roots planted way back in 1975 to accelerate
power development in India. Since then, it has established itself as the dominant power major with
presence in the entire value chain of the power generation business.
► Company is working with various agencies who are pioneers in hydrogen technology and aims to
have a significant share in hydrogen economy. Company is focusing on carbon free mobility
solutions including EV charging, EV transportation / Hydrogen FCEV transportation.
► Company is envisaging providing hydrogen and pure electric powertrain based green mobility
solutions for public transport which includes providing hydrogen fuel cell based electric vehicles as
well as pure battery-operated electric buses. It is also playing an important role of e-Mobility ‘enabler’
by creation of public charging infrastructure. Following initiatives are under various stages of
implementation:
► Hydrogen Mobility: The pilot projects are planned to be carried out in Leh and Delhi with 5 nos. of
Fuel cell electric bus and 5 nos. of fuel cell cars at each location. The pilot project is being designed
with complete value chain of Hydrogen including Hydrogen generation from renewable energy,
Hydrogen storage and dispensation. An EoI has been invited in this regard from Global fuel cell
electric vehicle (FCEV) manufacturers.
► E-bus Solution: Company is also offering complete e-bus solutions to STUs through its subsidiary,
NVVN. An agreement has already been signed with Department of Transport, A&N Islands for
deploying electric bus solution. Similar solutions with other STUs are also under discussion.
► Battery Charging & Swapping solution: Your Company has already commissioned a pilot project
on the concept of battery charging and swapping at Faridabad. The station is under operation and
is catering to electric 3 wheeler’s energy service requirement.
► Charging Station: Company plans to set-up 400 Nos. of chargers in locations across the cities. So
far 90 Nos of Chargers have been installed.
► Charging Infrastructure under FAME-II: Company had participated in the Expression of Interest
(EOI) floated by Department of Heavy Industries, Government of India under Faster Adoption and
Manufacturing of Hybrid and Electric Vehicles (FAME-II) scheme. A total of 282 nos. of charging
stations will be set-up in Jabalpur, Bhopal, Hyderabad, Vijayawada, Visakhapatnam, Kakinada and
Bengaluru under this project.
Category 4
Software companies which manufacture AI and machine learning to the EV
• TATA ELXSI
TATA ELXSI
► Tata Elxsi works with leading OEMs and suppliers in the automotive and transportation industries
for R&D, design and product engineering services from architecture to launch and beyond. They
work with leading car manufacturers and suppliers, in developing electronics and software for
powertrain, infotainment, connectivity, active safety, and comfort and convenience.
► Their AR-V2X is a first-of-its-kind solution that fuses the concept of Augmented Reality and
Connected Car testing.
► Company has been investing in key digital technologies over the past few years in areas such as
AI and Analytics, IoT and Automation, which have helped enhance the service portfolio, not only
for existing customers but also to win new customers across the world.
► The Embedded Product Design (EPD) division provides technology consulting, new product
design, development, and testing services for the automotive, broadcast, consumer electronics,
healthcare, telecom, and transportation industries
► Company has partnered with Tata Motors in developing their unified Connected Vehicle Platform
that powers the Nexon EV range of electric cars.
► company is investing in strengthening capabilities in the development of Electric vehicles, including
control software development, battery management systems, and validation.
