India has set a target to have 30% of the total cars sold in the country be electric by 2023. With the recent discovery of lithium reserves in Jammu and Kashmir, India is now in a position to revolutionize the electric car industry. Lithium is a crucial element used in the production of batteries for electric vehicles, and it is currently in high demand worldwide. China is currently the largest producer of lithium, and the country has already seen a surge in the sale of electric cars due to its abundant lithium reserves. However, with India’s newfound lithium reserves, the country has the potential to reduce its dependence on China and become a major player in the electric car industry.
★India aims to have 30% of the total cars sold in the country be electric by 2023.
★The recent discovery of lithium reserves in Jammu and Kashmir has given India the opportunity to revolutionize the electric car industry.
★Lithium is a crucial element used in the production of batteries for electric vehicles.
★China is currently the largest producer of lithium, but India’s newfound reserves could reduce its dependence on China and make it a major player in the electric car industry.
The discovery of lithium reserves in Jammu and Kashmir has generated excitement in India. It is estimated that the reserves can be used to make batteries for 92 crore cars in the country. The Indian government is expected to issue mining contracts for these reserves in the coming weeks, with several foreign companies showing interest. Currently, China dominates the lithium market and is the world’s largest producer of lithium-ion batteries. As a result, China has experienced a boom in the sale of electric cars, with over 141 million electric cars sold in 2022. India’s newfound lithium reserves have the potential to challenge China’s dominance and drive down the cost of electric cars in the country. This could pave the way for India to become a global leader in the electric car industry.
