What does NMC stand for?

Under the agreement, Rincell will transfer its cutting-edge technology for Nickel Manganese Cobalt Cathode (NMC) battery cells to Nash Energy. In return, Nash Energy will set up a manufacturing facility in India to produce these high-performance battery cells and lead go-to-market and commercialization efforts.

How can India capture value across the battery supply chain?

However, to truly capture value across the battery supply chain, India will need to pursue backward integration with the high-value cell components segment as well as equipment manufacturing.

Should India prioritize localization of battery components?

India should prioritize the localization of specific battery components, such as synthetic anodes, electrolytes, and cell casings and pouches, through supportive regulations and trade and industrial policies.

Why will NMDC bring back its quota to India?

NMDC will bring back its entire quota to India to meet the growing lithium requirement because of the rising domestic sales of electric vehicles. NMDC is also looking for cobalt, nickel and gold mines in various geographies, including Africa.

Are battery cell manufacturers still operating at 95% capacity in 2022?

A McKinsey & Company analysis found that most incumbent battery cell manufacturers and equipment suppliers were operating at more than 95% capacity in 2022, leaving little room to increase output.

Are LFP batteries better than NMC batteries?

LFP batteries can bring additional benefits, such as lower cost—32% cheaper than NMC—and beneficial performance characteristics, such as a longer life cycle and improved thermal stability (BloombergNEF, 2023; Warrior et al., 2024). Graphite is the dominant material used in anodes and can either be found naturally or produced synthetically.