India’s EV battery demand is projected to grow tenfold, reaching 200 GWh by 2032, according to IESA. The surge is expected to reshape India’s supply chain and boost localization of key components like cells, motors, and manufacturing capabilities. While electric two-wheelers currently lead, passenger cars and light commercial fleets are poised to drive the next phase.
Ola Electric is reportedly in talks with global and domestic automakers to supply lithium-ion cells and battery packs. With its Krishnagiri gigafactory planned for major capacity expansion, the company aims to shift from primarily making batteries for its own vehicles to becoming a key supplier for India’s growing EV and energy-storage ecosystem.
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Skyroot Aerospace, a Hyderabad spacetech startup, has raised $60 million in a co-led round by Sherpalo Ventures and GIC, crossing $1.1 billion pre-money valuation to become India’s first spacetech unicorn. The capital will scale commercial launches for Vikram-1. Meanwhile, Yuma Energy says its non-Yulu business is set to contribute 20–25% of revenue by year-end as it expands swapping across India.
India and the European Union have launched a €15.2 million call for proposals to develop EV battery recycling technologies under the Trade and Technology Council. With funding shared through Horizon Europe and India’s Ministry of Heavy Industries, teams will work to recover lithium, cobalt and graphite, cut import dependence, and build an India-based pilot line using safer, digital and inclusive logistics. Submissions run until 15 September 2026.
India and the European Union have launched a joint initiative to recycle electric vehicle batteries, aiming to secure raw materials and accelerate a circular economy. The effort comes with a 15.2 million euro funding pool for advanced recycling technologies and pilot projects in India, bringing together researchers, industry and startups to develop scalable solutions.
Moment Energy has raised $40 million to meet what CEO Edward Chiang calls “infinite demand for power,” using a novel approach to EV battery reuse. By repurposing EV batteries for energy storage and deployment, the startup aims to deliver more flexible power capacity while accelerating battery circularity. The funding underscores growing investor appetite for battery-driven grid solutions.
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Amara Raja is planning to start bulk production of lithium ion EV cells around 2027, as India builds a domestic battery manufacturing ecosystem. With heavy investment from players like Amara Raja and Tata Group’s Agratas, the industry is set to expand for both electric vehicles and energy storage—though EV makers may face a near-term price premium for locally produced cells.
The UK has awarded $510 million to Tata’s Agratas for a planned EV battery gigafactory in Somerset, announced by the country’s Advanced Propulsion Centre (APC). The money is part of a wider £470 million grant package, underscoring the UK’s strategy to scale domestic battery manufacturing and accelerate electric-vehicle supply chains.
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