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.
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
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.
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.
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.
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.
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