The Degana municipality of the Nagaur district in Rajasthan has been identified as having sizable lithium reserves, according to reports from the Geological Survey of India (GSI) and Rajasthan government officials. Compared to the 5.9 million tonnes of lithium recently discovered in Jammu & Kashmir, these reserves are reportedly far richer in lithium. The amount of lithium discovered in Rajasthan, according to officials, can reportedly satisfy around 80% of the nation’s needs.
Everything about Rajasthan Lithium Resserves!
In the entire world, lithium is the lightest and most pliable metal. It is a non-ferrous metal that plays a significant role in EV batteries by converting chemical energy into electrical energy. Lithium-ion batteries are by far the most effective, secure, and portable battery solutions for electric vehicles, according to Capital A founder and lead investor Ankit Kedia.
Here, the discovery of lithium reserves in various Indian states is quite encouraging for the country’s EV ecosystem. As it’s needed to develop the necessary processing infrastructure and knowledge, it is true that the mere discovery of the Lithium reserves won’t immediately transform everything. In terms of market maturity and sophistication, nations like China and the US are well ahead of India in this field.
Additionally, he stated, “A start must be made somewhere, and there is huge potential for using domestically produced lithium to assist the battery manufacturing sector and the entire EV ecosystem. In the domestic markets that are now being impacted by the cancellation of the FAME II plan, this would provide much-needed stimulus. It should be highlighted that EV adoption has exploded in India, and once a comprehensive and encouraging environment is in place, people will continue to purchase EVs on a regular basis. In this area, I think India has made significant strides, and the recent discoveries of lithium reserves will be very helpful.”
Currently, India has to import numerous minerals, including lithium, nickel, and cobalt, and it has been working to increase its supply of these essential minerals since they are necessary for advancing its objectives to increase the market share of electric vehicles. At present, Australia produces 47% of the world’s lithium, followed by Chile with 30% of the production and China with 15%. However, 58% of the processing of the mineral happens in China, 29% in Chile, and 10% in Argentina.
According to Varun Goenka, CEO & Co-Founder of Chargeup, “India is well positioned to become the third largest market for EVs in the next 4 years as it discovers huge lithium reserves in Rajasthan in addition to the reserves that have already been identified in Jammu and Kashmir. Batteries have been a significant barrier for India’s EV industry because they are the single highest cost and are largely supplied by China.”
