LG Energy Boosts Battery Sales to Electric Vehicle Manufacturers in India

LG Energy, a leading global battery supplier for renowned manufacturers like Tesla and Hyundai, is making significant strides in expanding its operations in India’s rapidly growing automotive market by actively seeking partnerships with domestic electric vehicle manufacturers.

While specific details about the ongoing discussions with electric vehicle manufacturers have not been disclosed by the company, LG Energy’s Indian subsidiary already holds a dominant position in the battery supply market for electric scooters. Their batteries power vehicles produced by Ola Electric, supported by Softbank Group, as well as the domestic competitor, TVS. Since its establishment in India in 2023, LG Energy has consistently accounted for over 50% of the market share in this sector. Furthermore, they also supply batteries to Mahindra & Mahindra for their electric vehicles.

Although the electric vehicle market in India is still relatively small, it is growing rapidly. The Indian government has set ambitious goals for the future, aiming for 30% of total car sales and 70% of scooter sales to be electric vehicles by 2030. To facilitate this transition, the authorities are incentivizing companies to manufacture electric vehicles and batteries domestically through various programs.

LG Energy’s strategy of forging local partnerships can play a pivotal role in driving the growth of the electric vehicle market in India. By increasing the availability of batteries to domestic manufacturers, LG Energy can expedite the development of charging infrastructure and the widespread adoption of electric vehicles on Indian roads. This approach represents a significant step towards transforming India’s transportation system into one that is more sustainable and environmentally friendly.

FAQ:

1. Which electric vehicle manufacturers has LG Energy partnered with in India?
LG Energy’s subsidiary in India currently supplies batteries to Ola Electric and TVS, both of which are prominent electric scooter manufacturers. Additionally, they also provide batteries to Mahindra & Mahindra for their electric vehicles.

2. What percentage of car and scooter sales is the Indian government aiming for to be from electric models by 2030?
The Indian government aims for 30% of total car sales and 70% of scooter sales to come from electric models by 2030.

Sources:
– [Link to LG Energy’s official website](https://www.lgenergy.com/)

The source of the article is from the blog guambia.com.uy