Battery cell demand for EVs to rise, India's reliance on imports continues

S&P Mobility said that while Maruti has a tiny EV market share, its battery cell demand is expected to be 20 per cent by 2035, as against Tata Motors at 22 per cent

Tata Motors leads the electric passenger vehicle market with over 70 per cent share, making them the largest consumer of batteries. However, snapping at their heels is Maruti Suzuki India (MSIL), which is projected to match Tata’s demand for battery cells by 2035, powered by the launch of electric vehicles (EVs) later this year.

In a presentation on the Indian EV battery market for light vehicles, S&P Mobility stated that while MSIL currently holds a small EV market share, its demand for battery cells is expected to reach 20 per cent by 2035, slightly trailing Tata at 22 per cent.