Modi Government's Master Plan: EV Prices to Drop, India to Break China's Battery Monopoly
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News18•29-01-2026, 22:02
Modi Government's Master Plan: EV Prices to Drop, India to Break China's Battery Monopoly
- •The Indian government plans a new policy to reduce electric vehicle (EV) prices by boosting domestic battery production.
- •A subsidy scheme for lithium and nickel processing will offer 15% capital subsidy on investment, starting April 1, 2026.
- •This initiative aims to break China's 80% global battery production monopoly and reduce EV costs by 20-30%.
- •Companies with lithium processing plants can receive up to 40% of annual net sales turnover, and nickel plants up to 25%.
- •Two large lithium and two large nickel projects are planned to meet India's entire demand by 2030, with strict capacity criteria.
Why It Matters: India's new subsidy policy for battery raw material processing aims to make EVs affordable and self-reliant.
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