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Time of India
13-07-2025
- Business
- Time of India
Clean tech revolution: Key role of critical minerals in Atmanirbhar Bharat
In 2010, a quiet but strategic event took place which would later alter the world's relationship with critical minerals . Following a maritime dispute with Japan, China implemented a temporary ban on rare earth element exports to Japan. The ban sent ripple effects down supply chains across the world - especially the automotive sector in Japan. Prices skyrocketed overnight. The world experienced perhaps for the first time in a meaningful way, that critical minerals like lithium and cobalt were not simply technical inputs; they were the new oil. They were a geopolitical asset that could wreck entire industries - clean energy, consumer electronics, defense, automotive, etc. As India strides toward becoming an economic powerhouse, the vision of Atmanirbhar Bharat (Self-Reliant India) hinges not just on manufacturing capacity or policy frameworks, but also on control over critical minerals. Lithium, cobalt, nickel, graphite, and rare earths, all needed to create the batteries, motors and devices that will fuel the India of the future. But therein lies the dilemma—India has global aspirations, yet has little domestic access to the majority of these resources. The Backbone of the Clean Tech Revolution Lithium-ion batteries form the backbone of electric vehicles (EVs), grid-scale energy storage and portable electronics. According to IEA's Global EV Outlook 2024, global EV sales surpassed 14 million units in 2023, and the Indian EV market is forecasted to reach USD 152 billion by 2030. This entails a need for exponential growth in the number of batteries produced and, consequently, demand for critical minerals. However, India currently relies on importing more than 90 per cent of its lithium and cobalt. Supply is reportedly from China, Chile, and the Democrat Republic of Congo, creating a situation of over-reliance on a limited number of countries. There are risks with such over-reliance--not only in regard to cost and supply support, but also from a national security and industrial sovereignty perspective. The Case for Urban Mining While traditional mining faces environmental, social, and logistical hurdles, India sits on an untapped urban mine of immense potential: its electronic waste and spent lithium-ion batteries. India produced a total of 1.751 million e-waste last year, according to data presented by the Minister of State for Union Ministry of Housing and Urban Affairs. And lithium-ion batteries account for a growing share of this total. This is expected to touch 200,000 metric tonnes per year by 2030. Here's the opportunity Every tonne of spent lithium-ion batteries contains approximately 100 kg of valuable metals, including lithium, cobalt, and nickel. When recovered using advanced recycling techniques, these metals can be used to produce new batteries thus reducing reliance on imports, lowering environmental impact, and creating a domestic circular economy. We believe this is the frontier India must embrace. The Economic & Strategic Rationale Establishing a critical minerals strategy isn't just an environmental or industrial goal, it's an economic imperative. According to the World Bank, the demand for critical minerals could rise by 500 per cent by 2050 in order to meet the targets of the Paris Agreement. If India can create domestic sourcing pathways through urban mining, closed-loop supply chains, and end-of-life battery recovery, it can save billions in import bills, reduce geopolitical risks, and create high-value green jobs in the clean-tech sector. The Indian government launched the National Critical Minerals Mission, announced in Budget 2025, with ₹34,300 crore allocated to identify and develop domestic resources. Lithium reserves in Jammu & Kashmir and exploration efforts in Karnataka and Chhattisgarh are steps toward reducing dependence on mineral-rich countries like China, Chile, and the Democratic Republic of Congo. Furthermore, while the government's Battery Waste Management Rules (2022) and the Production Linked Incentive (PLI) scheme for ACC battery manufacturing are commendable steps forward, it is now essential to expand both the depth and breadth of our efforts. The Way Forward: A National Critical Mineral Strategy India Energy Storage Alliance's launch of the India Reuse and Recycling Council (IRRC) marks a significant step toward fostering a strong ecosystem for battery recycling and second-life applications. However, to truly achieve Atmanirbharta in the critical minerals sector, we need more than policy intent; we need a national integrated strategy. We must start with a focused urban mining infrastructure program. India is forecasted to produce more than 200,000 metric tonnes of lithium-ion battery waste annually by 2030 (CPCB), and we will need regionally distributed recycling capabilities coupled with local partners especially in Maharashtra, Tamil Nadu, and Karnataka, states with lots of EV penetration. By developing a local partner that can leverage technology as well as other financial incentives to process large volumes of materials where sustainable recovery of critical materials is possible. Having a mandated collection and reverse logistics systems is just as important as the recycling infrastructure. OEMs should be held accountable for the lifecycle of their batteries via Extended Producer Responsibility (EPR) norms, including systems to specify shipment norms, and clearly defined and measurable targets. The key component of any take-back system is a reliable ecosystem to ensure that retired batteries are not discarded, unrecycled into the landfill, or left untethered in the informal sector. At the same time, government support needs to be stepped up in terms of research and development for advanced recycling technologies, efficient extraction of rare-earth elements from e-waste. The shipping dispute between China and Japan was a wake-up call for the world. It made one thing clear: in the 21st century, minerals can move markets, unsettle economies, and shift the axis of power. That lesson is still relevant, perhaps even more so today and India must not fall behind in realising it.
Time of India
12-07-2025
- Business
- Time of India
Clean tech revolution: Key role of critical minerals in Atmanirbhar Bharat
Live Events In 2010, a quiet but strategic event took place which would later alter the world's relationship with critical minerals. Following a maritime dispute with Japan, China implemented a temporary ban on rare earth element exports to Japan. The ban sent ripple effects down supply chains across the world - especially the automotive sector in Japan. Prices skyrocketed overnight. The world experienced perhaps for the first time in a meaningful way, that critical minerals like lithium and cobalt were not simply technical inputs; they were the new oil. They were a geopolitical asset that could wreck entire industries - clean energy, consumer electronics, defense, automotive, India strides toward becoming an economic powerhouse, the vision of Atmanirbhar Bharat (Self-Reliant India) hinges not just on manufacturing capacity or policy frameworks, but also on control over critical minerals. Lithium, cobalt, nickel, graphite, and rare earths, all needed to create the batteries, motors and devices that will fuel the India of the future. But therein lies the dilemma—India has global aspirations, yet has little domestic access to the majority of these batteries form the backbone of electric vehicles (EVs), grid-scale energy storage and portable electronics. According to IEA's Global EV Outlook 2024, global EV sales surpassed 14 million units in 2023, and the Indian EV market is forecasted to reach USD 152 billion by 2030. This entails a need for exponential growth in the number of batteries produced and, consequently, demand for critical India currently relies on importing more than 90% of its lithium and cobalt. Supply is reportedly from China, Chile, and the Democrat Republic of Congo, creating a situation of over-reliance on a limited number of countries. There are risks with such over-reliance--not only in regard to cost and supply support, but also from a national security and industrial sovereignty traditional mining faces environmental, social, and logistical hurdles, India sits on an untapped urban mine of immense potential: its electronic waste and spent lithium-ion produced a total of 1.751 million e-waste last year, according to data presented by the Minister of State for Union Ministry of Housing and Urban Affairs. And lithium-ion batteries account for a growing share of this total. This is expected to touch 200,000 metric tonnes per year by tonne of spent lithium-ion batteries contains approximately 100 kg of valuable metals, including lithium, cobalt, and nickel. When recovered using advanced recycling techniques, these metals can be used to produce new batteries thus reducing reliance on imports, lowering environmental impact, and creating a domestic circular economy. We believe this is the frontier India must a critical minerals strategy isn't just an environmental or industrial goal, it's an economic imperative. According to the World Bank , the demand for critical minerals could rise by 500% by 2050 in order to meet the targets of the Paris Agreement. If India can create domestic sourcing pathways through urban mining, closed-loop supply chains, and end-of-life battery recovery, it can save billions in import bills, reduce geopolitical risks, and create high-value green jobs in the clean-tech Indian government launched the National Critical Minerals Mission, announced in Budget 2025, with ₹34,300 crore allocated to identify and develop domestic resources. Lithium reserves in Jammu & Kashmir and exploration efforts in Karnataka and Chhattisgarh are steps toward reducing dependence on mineral-rich countries like China, Chile, and the Democratic Republic of Congo. Furthermore, while the government's Battery Waste Management Rules (2022) and the Production Linked Incentive (PLI) scheme for ACC battery manufacturing are commendable steps forward, it is now essential to expand both the depth and breadth of our Energy Storage Alliance's launch of the India Reuse and Recycling Council (IRRC) marks a significant step toward fostering a strong ecosystem for battery recycling and second-life applications. However, to truly achieve Atmanirbharta in the critical minerals sector, we need more than policy intent; we need a national integrated strategy. We must start with a focused urban mining infrastructure program. India is forecasted to produce more than 200,000 metric tonnes of lithium-ion battery waste annually by 2030 (CPCB), and we will need regionally distributed recycling capabilities coupled with local partners especially in Maharashtra, Tamil Nadu, and Karnataka, states with lots of EV penetration. By developing a local partner that can leverage technology as well as other financial incentives to process large volumes of materials where sustainable recovery of critical materials is a mandated collection and reverse logistics systems is just as important as the recycling infrastructure. OEMs should be held accountable for the lifecycle of their batteries via Extended Producer Responsibility (EPR) norms, including systems to specify shipment norms, and clearly defined and measurable targets. The key component of any take-back system is a reliable ecosystem to ensure that retired batteries are not discarded, unrecycled into the landfill, or left untethered in the informal the same time, government support needs to be stepped up in terms of research and development for advanced recycling technologies, efficient extraction of rare-earth elements from shipping dispute between China and Japan was a wake-up call for the world. It made one thing clear: in the 21st century, minerals can move markets, unsettle economies, and shift the axis of power. That lesson is still relevant, perhaps even more so today and India must not fall behind in realising author is co-Founder & CEO of MiniMines Cleantech Solutions
Economic Times
12-07-2025
- Business
- Economic Times
Clean tech revolution: Key role of critical minerals in Atmanirbhar Bharat
AP India currently relies on importing more than 90% of its lithium and cobalt. In 2010, a quiet but strategic event took place which would later alter the world's relationship with critical minerals. Following a maritime dispute with Japan, China implemented a temporary ban on rare earth element exports to Japan. The ban sent ripple effects down supply chains across the world - especially the automotive sector in Japan. Prices skyrocketed overnight. The world experienced perhaps for the first time in a meaningful way, that critical minerals like lithium and cobalt were not simply technical inputs; they were the new oil. They were a geopolitical asset that could wreck entire industries - clean energy, consumer electronics, defense, automotive, etc. As India strides toward becoming an economic powerhouse, the vision of Atmanirbhar Bharat (Self-Reliant India) hinges not just on manufacturing capacity or policy frameworks, but also on control over critical minerals. Lithium, cobalt, nickel, graphite, and rare earths, all needed to create the batteries, motors and devices that will fuel the India of the future. But therein lies the dilemma—India has global aspirations, yet has little domestic access to the majority of these resources. The Backbone of the Clean Tech RevolutionLithium-ion batteries form the backbone of electric vehicles (EVs), grid-scale energy storage and portable electronics. According to IEA's Global EV Outlook 2024, global EV sales surpassed 14 million units in 2023, and the Indian EV market is forecasted to reach USD 152 billion by 2030. This entails a need for exponential growth in the number of batteries produced and, consequently, demand for critical India currently relies on importing more than 90% of its lithium and cobalt. Supply is reportedly from China, Chile, and the Democrat Republic of Congo, creating a situation of over-reliance on a limited number of countries. There are risks with such over-reliance--not only in regard to cost and supply support, but also from a national security and industrial sovereignty perspective. The Case for Urban Mining While traditional mining faces environmental, social, and logistical hurdles, India sits on an untapped urban mine of immense potential: its electronic waste and spent lithium-ion produced a total of 1.751 million e-waste last year, according to data presented by the Minister of State for Union Ministry of Housing and Urban Affairs. And lithium-ion batteries account for a growing share of this total. This is expected to touch 200,000 metric tonnes per year by the opportunityEvery tonne of spent lithium-ion batteries contains approximately 100 kg of valuable metals, including lithium, cobalt, and nickel. When recovered using advanced recycling techniques, these metals can be used to produce new batteries thus reducing reliance on imports, lowering environmental impact, and creating a domestic circular economy. We believe this is the frontier India must embrace. The Economic & Strategic Rationale Establishing a critical minerals strategy isn't just an environmental or industrial goal, it's an economic imperative. According to the World Bank, the demand for critical minerals could rise by 500% by 2050 in order to meet the targets of the Paris Agreement. If India can create domestic sourcing pathways through urban mining, closed-loop supply chains, and end-of-life battery recovery, it can save billions in import bills, reduce geopolitical risks, and create high-value green jobs in the clean-tech sector. The Indian government launched the National Critical Minerals Mission, announced in Budget 2025, with ₹34,300 crore allocated to identify and develop domestic resources. Lithium reserves in Jammu & Kashmir and exploration efforts in Karnataka and Chhattisgarh are steps toward reducing dependence on mineral-rich countries like China, Chile, and the Democratic Republic of Congo. Furthermore, while the government's Battery Waste Management Rules (2022) and the Production Linked Incentive (PLI) scheme for ACC battery manufacturing are commendable steps forward, it is now essential to expand both the depth and breadth of our efforts. The Way Forward: A National Critical Mineral Strategy India Energy Storage Alliance's launch of the India Reuse and Recycling Council (IRRC) marks a significant step toward fostering a strong ecosystem for battery recycling and second-life applications. However, to truly achieve Atmanirbharta in the critical minerals sector, we need more than policy intent; we need a national integrated strategy. We must start with a focused urban mining infrastructure program. India is forecasted to produce more than 200,000 metric tonnes of lithium-ion battery waste annually by 2030 (CPCB), and we will need regionally distributed recycling capabilities coupled with local partners especially in Maharashtra, Tamil Nadu, and Karnataka, states with lots of EV penetration. By developing a local partner that can leverage technology as well as other financial incentives to process large volumes of materials where sustainable recovery of critical materials is possible. Having a mandated collection and reverse logistics systems is just as important as the recycling infrastructure. OEMs should be held accountable for the lifecycle of their batteries via Extended Producer Responsibility (EPR) norms, including systems to specify shipment norms, and clearly defined and measurable targets. The key component of any take-back system is a reliable ecosystem to ensure that retired batteries are not discarded, unrecycled into the landfill, or left untethered in the informal the same time, government support needs to be stepped up in terms of research and development for advanced recycling technologies, efficient extraction of rare-earth elements from shipping dispute between China and Japan was a wake-up call for the world. It made one thing clear: in the 21st century, minerals can move markets, unsettle economies, and shift the axis of power. That lesson is still relevant, perhaps even more so today and India must not fall behind in realising it. The author is co-Founder & CEO of MiniMines Cleantech Solutions
Yahoo
02-06-2025
- Automotive
- Yahoo
Assisted by increasing affordability, global EV adoption continues to rise
This story was originally published on Automotive Dive. To receive daily news and insights, subscribe to our free daily Automotive Dive newsletter. Despite market disruptions in the global automotive industry — including U.S. tariffs — EV sales remain on an upward trajectory. That's according to a May report from the International Energy Agency, the global energy forum of 32 industrialized countries, including the United States. The IEA's annual Global EV Outlook predicts that more than a quarter of vehicles sold around the world in 2025 will be electric. In 2024, according to the report, more than 17 million EVs were sold worldwide, comprising more than 20% of all new vehicle sales. The number of sales grew by 25% compared to 2023. And sales only continue to grow: During the first quarter of 2025, global EV sales rose by 35% versus the same period in 2024. 'Our data shows that, despite significant uncertainties, electric cars remain on a strong growth trajectory globally,' IEA Executive Director Fatih Birol said in a statement, adding that EV sales are continuing to set new records. Birol also said that the share of EVs sold is expected to more than double within the next five years, reaching more than 40% of global car sales, thanks in large part to the growing affordability of EVs. Last year, the average worldwide price of an EV generally fell, according to the report. But pricing varied by country. In China, two-thirds of EVs sold were cheaper than similar gas-powered vehicles — even without discounts and other promotions. At the same time, the report noted that the limited share of affordable EV models in the U.S. has hurt EV take-up. On average, the price of an EV in the U.S. is 30% higher than a similar gas-powered car. In addition, more than 75% of cars sold in the U.S. are SUVs, but only about 20% of electric SUVs are cheaper than their gas-powered counterparts. The low prices of China's OEMs have rapidly accelerated EV adoption in China, where more than half of vehicles sold last year were EVs. But EV production in China is also driving increased EV sales around the world — China EV sales were actually responsible for nearly two-thirds of all EV purchases worldwide, per the report. The report also said that EV growth is accelerating in emerging economies, which include countries such as Brazil, India, Indonesia, Mexico and Thailand. In these regions, EV sales increased by more than 60% in 2024 alone. The increase is largely due to EV affordability, as the report noted the cheapest EVs in Brazil, India, Indonesia, Mexico and Thailand were made by China-based OEMs and were often the least expensive vehicles on the market — cheaper even than gas-powered vehicles, per the report. While EV sales increased in the U.S. in 2024, sales growth declined compared to 2023. Still, the EV market in the U.S. continues to expand; 24 new models were introduced in 2024, bringing the total number of new EV models brought to market since 2020 to 110, the report said. Recommended Reading ComEd offering $100M in rebates to drive EV growth in Illinois Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Mayor
19-05-2025
- Automotive
- Business Mayor
More than one in four cars sold worldwide this year set to be electric
The International Energy Agency (IEA) has, in its annual Global EV Outlook, forecast that despite significant uncertainties, electric passenger cars' market share is on course to exceed 40% by 2030 as they become increasingly affordable in more markets. Following another year of robust growth in CY2024, global sales of electric cars are on track to surpass 20 million in CY2025, accounting for over a quarter of cars sold worldwide. The report shows that despite recent economic headwinds that have put pressure on the auto sector, global sales of electric cars have continued to break records as electric models become increasingly affordable. Sales exceeded 17 million globally in 2024, putting EVs' share of the global car market above 20% for the first time, as forecasted by the IEA previously. And in the first three months of 2025, electric car sales were up 35% year-on-year. All major markets, and many others, saw new records for first-quarter sales. Emerging markets in Asia and LatAm new centres of growth China maintains its position as the EV market leader, with electric cars accounting for almost half of all car sales in 2024. The number of electric cars sold in China last year (more than 11 million) is equivalent to the total sold worldwide in 2022. Emerging and developing markets in Asia and Latin America have also become new centres of growth, with total electric car sales across these regions surging by more than 60% in 2024 and the sales share almost doubled from 2.5% to 4%. This rapid growth has been strengthened by policy incentives. Emerging and developing economies in Asia (excluding China) saw a large increase in electric car sales, reaching almost 400,000 in 2024, up over 40% from 2023. In India, demand for electric passenger cars has risen, particularly in the past year. In CY2024, 99,378 new electric cars were sold in the country , which constitutes YoY growth of 20% (CY2023: 82,563 units). Sales of electric cars, SUVs and MPVs in India rose 21% YoY in CY2024 to a record 99,738 units. This best-ever annual sales record is set to be surpassed this year because in the first three months of CY2025, a total of 34,568 electric cars, SUVs and MPVs have being sold, up 34% YoY (January-March 2024: 25,777 units). The Indian electric car market is currently witnessing a shakeout what with EV leader Tata Motors, which has the largest EV portfolio, under pressure from JSW MG Motor India. SUV major Mahindra & Mahindra has also mounted a challenge with the recent launched on two new electric SUVs (BE 6 and XEV 9e). While Hyundai Motor India, the second-ranked passenger car maker, has launched the Creta Electric, the zero-emission avatar of the country's best-selling midsize SUV, ICE market leader Maruti Suzuki will be launching its first EV later this year, as will Toyota Kirloskar Motor as part of the global Suzuki-Toyota alliance. Thailand remained the largest EV market in Southeast Asia, despite a 10% drop in electric car sales. This decline was outweighed by an even steeper 26% drop in conventional car sales, largely due to stricter lending criteria, meaning the electric sales share rose to 13% in 2024, up from 11% the previous year. Within the region, Indonesia and Vietnam also stood out, respectively tripling and nearly doubling their sales numbers and reaching sales shares comparable to countries such as Spain or Canada. In many Southeast Asian countries, BEVs are the most popular electric car type, with over 90% of all electric car sales being fully electric. In Latin America, sales volumes and penetration rates doubled in many countries, with electric cars reaching a market share of 4% in 2024. Brazil towered over other countries in the region with nearly 125,000 electric car sales, more than twice the number of 2023 sales, and the electric sales share doubled to 6.5%. Costa Rica, Uruguay and Colombia also achieved impressive sales shares of around 15%, 13% and 7.5%, respectively. These increases are in large part the result of government incentives such as tax exemptions, reduced registration fees, a relaxation of traffic restrictions for EVs, and relatively high fossil fuel prices. In Africa, electric car sales more than doubled to reach nearly 11,000 in 2024. Sales shares remained low, at under 1%, though there was growth in several countries, such as Morocco and Egypt, where new electric car sales increased to more than 2 000. EV sales grow in the US, stagnate in Europe In the United States, electric car sales grew by about 10% year-on-year, reaching more than one in 10 cars sold. Europe saw sales stagnate as subsidy schemes and other supportive policies waned, though the market share of electric cars remained around 20%. 'Our data shows that, despite significant uncertainties, electric cars remain on a strong growth trajectory globally. Sales continue to set new records, with major implications for the international auto industry,' said IEA Executive Director Fatih Birol. He added, 'This year, we expect more than one in four cars sold worldwide to be electric, with growth accelerating in many emerging economies. By the end of this decade, it is set to be more than two in five cars as EVs become increasingly affordable.' Uncertainties over global economic growth and the evolution of trade and industrial policies could affect the outlook. But sales of EVs are being supported by their increasing affordability, the report finds. Purchase gap with conventional cars still persists On a global level, the average price of a battery electric car fell in 2024 amid growing competition and declining battery costs. In China, two-thirds of all electric cars sold last year were priced lower than their conventional equivalents, even without purchase incentives. However, the purchase price gap with conventional cars persisted in many other markets. The average battery electric car price in Germany, for example, remained 20% higher than that of its conventional counterpart. In the United States, battery electric cars were still 30% more expensive. EVs remain consistently cheaper to operate across many markets, based on current energy market prices. Even if oil prices were to fall as low as $40 per barrel, running an electric car in Europe via home charging would still cost about half as much as running a conventional car at today's residential electricity prices. According to the report, almost one-fifth of electric car sales worldwide are of imported vehicles. China, which accounts for more than 70% of global production, shipped nearly 1.25 million electric cars to other countries in 2024. This included to many emerging economies, where electric car prices fell considerably on the back of Chinese imports. ALSO READ: India's EV industry sales jump 27% in CY2024 but miss 2-million mark by a whisker
