India’s EV Revolution Set To Trigger Massive Surge In Critical Mineral Demand, Raising Supply Chain Concerns
New Delhi: India's transport sector comprises a diverse mix of two-wheelers, auto-rickshaws, buses, trains, and passenger cars, each of which is expected to electrify at a different pace, and thus distinguishes the country's transition to electric mobility from that of Europe and the US, where it is largely driven by cars, according to an article. Also Watch: As a result, India’s electrification…
India’s transport sector, consisting of diverse vehicles from two-wheelers to passenger cars, is transitioning to electric mobility at varying speeds, setting it apart from European and US models driven primarily by cars. As millions of electric vehicles hit Indian roads in the coming decades, demand for critical minerals such as lithium, copper, nickel, and cobalt is anticipated to surge to unprecedented heights, potentially surpassing current global production levels.
The electrification journey in India, characterized by the diverse spread of vehicle ownership, will not uniformly burden supply chains, with the early phase primarily driven by the rapid electrification of two-wheelers and auto-rickshaws, later transitioning to the replacement of older vehicles rather than expanding the overall fleet.
By 2030, demand for slow chargers may surge six to nine times, predominantly due to two- and three-wheelers, while fast chargers, primarily driven by passenger cars, are expected to continue growing well into the future. This transition necessitates infrastructure planning that anticipates the evolving vehicle mix rather than merely reacting to present demands.
The implications for critical minerals are profound, with lithium demand possibly more than doubling, copper demand nearing triple, and nickel demand approaching two-and-a-half times its production benchmark. Cobalt demand could also approach its global production benchmark, despite starting from a smaller base. These projections highlight how India’s electrification pathway could become a significant catalyst for global demand for critical minerals, necessitating a strategic shift from just promoting EV adoption to a broader mineral strategy involving secure access to critical minerals through long-term partnerships, enhancing battery life and end-of-life material recovery, and strengthening domestic capabilities in refining, processing, and battery manufacturing.
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