The India Energy Storage Alliance (IESA) unveiled its 'India Battery Manufacturing Vision' on Friday, aiming for over 500GWh capacity by 2035, with the potential to create over 2.6 million jobs and bring USD 35 billion in investment to the country. In India, IESA is concentrating on the development of advanced energy storage, green hydrogen, and e-mobility technologies.

"IESA has also set a vision to further scale this capacity to over 500 GWh by 2035, considering the demand growth for both stationary storage and e-mobility in India," said Rahul Walawalkar, Chair, WESD, Founder and President of IESA, and President and MD of Customised Energy Solutions (CES) India, in a statement.

He explained that the country's 'India Battery Manufacturing Vision' can generate over 2.6 million jobs and USD 35 billion in investments by 2035.

The first gigafactory (manufacturing facility that produces components linked to electrification and decarbonization technologies) in India is expected to begin commercial production in 2024, with installed manufacturing capacity of ACC (Advanced chemistry cell) batteries expected to reach more than 50 GWh by 2027-28. According to current announcements, Indian gigafactories should be able to scale to more than 150 GWh annual capacity by the end of 2030.

Furthermore, with the need for an alternate supply chain in developed markets such as the United States and the European Union, there is a significant opportunity for localising key components of gigafactories such as cathode-anode separators, electrolytes, and so on.

With an enabling policy and regulatory framework, the Indian battery supply chain industry could scale to over 1,000 GWh manufacturing capacity, he said, adding, "We are excited with the immense response received from Niti Aayog, MHI (Ministry of Heavy Industries), and Ministry of Mines for this vision."