COBALT 100
Battery PLI scheme achieves just 1.4 GWh capacity against 50 GWh target, faces delays: NITI Aayog report
The report, titled "Impact Assessment of PLI Schemes", prepared by NITI Aayog in collaboration with IIM Ahmedabad, said the Rs 18,100 crore scheme has witnessed slower-than-expected progress due to technological limitations, dependence on imports and delays in setting up manufacturing facilities.
Battery component makers may get up to 50% capital subsidy
The ministry of heavy industries is evaluating various subsidy models to enhance domestic battery component manufacturing capacity. Proposed support includes capital subsidies and sales-linked incentives to promote local production. India aims for sufficient manufacturing capacity to support 50 GWh of annual battery cell production by 2032. Current costs of battery materials are significantly higher compared to those from China.
From rocks to riches: India’s unfinished critical minerals story
India's manufacturing industry is significantly affected by its heavy reliance on imported critical minerals like lithium and cobalt. The recent supply disruptions from China have highlighted weaknesses in India's domestic capacity for refining these minerals. Efforts to enhance mineral processing and create integrated production facilities are underway to reduce import dependence.
In 2023, Mana Battery pursued anode-free sodium batteries; in 2026, it raised $10.15 million to build a China-independent supply chain
Founded in 2023, the Colorado-based company is led by co-founder and CEO Tyler Evans. The latest funding round was led by Voyager Ventures, with participation from Union Square Ventures and Buff Gold Ventures. The financing includes about $1.85 million in grants and other non-dilutive funding, the company's total financing to $14.1 million.
Sanctions, tariffs turn into policy instruments, sometimes weaponised: P K Mishra
P K Mishra highlighted the impact of geopolitical tensions on global markets and economic vulnerabilities. He mentioned that India is diversifying its energy imports to reduce vulnerabilities and ensure economic stability. The need for macroeconomic resilience through fiscal space and adequate foreign reserves was also emphasised. Mishra pointed out the importance of critical minerals for the future of advanced manufacturing and sustainability.
Infosys to move up to one-third workforce into specialist roles
The Bengaluru-based company is hiring from top Indian institutes and US campuses, often competing with AI labs for the same people, the management told its partners, advisers and analysts at a three-day annual Americas confluence in Washington, DC, last week, according to the people ET spoke with.
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NavPrakriti to invest over Rs 100 crore in critical minerals refining facility in Odisha
NavPrakriti will invest over Rs 100 crore to build a critical minerals refining facility in Odisha. This state-of-the-art plant will process end-of-life batteries, recovering essential minerals like lithium, cobalt, and nickel. The facility aims to strengthen India's domestic supply chains and circular economy. It is expected to be operational by FY 2028-29 and will create over 500 jobs.
Has Japan gained $30.6 billion despite Trump’s tariffs hitting global trade?
Amidst global economic turmoil triggered by Trump's tariffs, Japan has discovered vast cobalt and nickel reserves worth $30.6 billion near Minami-Tori-shima. This windfall, a result of University of Tokyo's research, boosts Japan's economy and offers strategic independence by securing vital EV battery components. The discovery positions Japan as a self-sufficient mineral powerhouse, insulating it from global supply chain disruptions.
Duty cut in Budget on certain inputs to boost exports, manufacturing: Commerce Ministry
The Commerce Ministry states that reducing customs duties on several inputs will support domestic manufacturing and boost exports. Key sectors like marine, chemicals, and critical minerals will benefit from these changes. The revamping of the Model Bilateral Investment Treaty aims to attract foreign investments and improve leverage during FTA negotiations.
NIT Rourkela develops new cathode technology to drive India's EV, renewable energy growth
Researchers at NIT Rourkela have introduced magnesium-based cathode materials for lithium-ion batteries, offering a sustainable, cost-effective alternative to cobalt. This advancement could alleviate the high cost, scarcity, and environmental concerns surrounding cobalt. The new cathode shows improved charge-discharge capacity retention and supports India's renewable energy goals while enhancing self-reliance in battery production.
China has broken the ‘Critical Minerals’ market
From their most recent peak in 2022-2023, prices of cobalt and lithium have plunged more than 75% after Chinese miners boosted production to levels that were previously unimaginable
NMDC exploring mining opportunities for critical minerals overseas
NMDC, India's largest iron ore miner, is exploring mining opportunities for critical minerals like lithium in Australia. The company aims to nearly double its production capacity to 100 million tonnes by 2030. Key initiatives include advanced slurry pipelines and beneficiation plants, focusing on sustainable growth and reducing environmental impact.
Budget expectations & India's e-waste recycling journey: Insights from Recyclekaro's founder Rajesh Gupta
Rajesh Gupta, founder of Recyclekaro, discusses India's reliance on imported battery cells for EVs due to a lack of domestic mineral reserves. Recyclekaro focuses on recycling retired batteries to extract critical metals like cobalt and lithium, supporting India's decarbonisation goals. Gupta hopes the Budget 2024 will include subsidies for the sale of recycled materials to boost sustainability efforts in the sector.
Microsoft offers cloud customers AMD alternative to Nvidia AI processors
Microsoft's clusters of Advanced Micro Devices' flagship MI300X AI chips will be sold through its Azure cloud computing service. They will give its customers an alternative to Nvidia's H100 family of powerful graphics processing units (GPUs) which dominate the data center chip market for AI but can be hard to obtain due to high demand.
Battery recycling firm Lohum raises $54 million in funding
Sources told ET that the funding happened at a valuation of around $500 million. Nearly 90% of the funding came in equity, with the rest being venture debt from Stride Ventures.
India to start lithium, other critical mineral blocks auction in next four months, Mines Secretary Vivek Bharadwaj says
India is preparing to start the auction process for some 100 critical mineral blocks in the next four months, as part of plans to secure domestic supplies of the raw materials needed to fuel the green energy transition. The blocks are for minerals including nickel, lithium, cobalt and platinum, along with rare earths, Mines Secretary Vivek Bharadwaj said in an interview in New Delhi.
We’re not even close to running out of green minerals
Rare earths, which have a range of high-tech applications including magnets in electric car motors and wind turbines, saw reserves up 8.3% after standing still for at least five years.
Electric vehicle outlook is even brighter if the world bikes and takes the bus
Automotive sales are still recovering from the combination of Covid-19, semiconductor shortages and a host of other factors. The overall market should pick up in the next few years, but EV sales are rising fast enough now to keep combustion vehicles from returning to their previous peak.
Bigger battery metal costs could keep electric cars expensive
Prices of lithium, cobalt and nickel have soared in the past year, eating into EV makers’ margins at a crucial point in the development of the burgeoning industry. With demand climbing, they now face a dilemma: swallow the incremental costs, or try passing them on to consumers.
India's top e-recycler Attero to spend $1 bln to expand as EVs take off
The World Bank-backed company, whose clients include Samsung Electronics and Hyundai Motor, also plans to prepare for an initial public offering in about a year and list in India or the United States in the next three years, CEO Nitin Gupta said in an interview.
RIL arm to buy battery company Lithium Werks for Rs 468.2 crore
Lithium Werks is a leading provider of cobalt free and high-performance lithium iron phosphate (LFP) batteries. LIP batteries, in addition to being the safest lithium battery type currently available in the market, offer a longer life span, no maintenance and are lightweight among others.
Battery pack manufacturing and recycling startup Lohum Cleantech to raise $100 million in Series B funds
The funds raised will be used to increase recycling capacity to 1 million units per annum, said Rajat Verma, who is also the chief executive of the Uttar Pradesh-based company. He expects to close the financing round in the next three-four months.
Vedanta Ltd acquires nickel and cobalt maker Nicomet in Goa
“India imports 100% of its Nickel requirements; our focus will be to boost domestic production that would fuel India’s transition to a Net Zero economy,” chairman Anil Agarwal said in a release on Monday.
Electric vehicles to get costlier? Key metals will be pricier for longer after record year
Battery metals are in the throes of an unprecedented boom as the global push toward a greener future fires up demand for materials such as lithium, cobalt and nickel, at a time of constrained supply exacerbated by the pandemic. That will probably boost battery costs and could delay the widespread adoption of electric cars.
Lifetime carbon emissions of electric vehicles versus gasoline cars
Data generated by an Argonne National Laboratory model was analyzed to determine at what point a typical electric vehicle (EV) becomes cleaner than an equivalent gasoline car in terms of its lifetime carbon footprint.
Infosys sees most large deals in $100-$250 million spot
There has been a surge in demand for modernisation work from across sectors as services are being shifted online, said chief operating officer Pravin Rao.
India to acquire reserves of strategic minerals to power the country's move into EVs
The jv will have National Aluminium Company (Nalco), Hindustan Copper (HCL) and Mineral Exploration Corporation Ltd (MECL) as partners with a shareholding pattern of 34:33:33 respectively.
Vedanta may partner Anglo American to bid for coal mines in India: Anil Agarwal
Agarwal’s holding firm, Volcan Investments, had bought a structured product last year, giving him an option to buy up to 21% in Anglo American for about $6 bn by end of next year.
Electric car industry needs practical strategy: Report
A number of governments and car makers have ambitious plans for electric vehicles, but car makers are facing challenges to secure supplies of raw materials used for battery production.
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