Affordability and sustainability remain the biggest hurdles for EV adoption. Battery costs, driven by the prices of raw materials, have been a barrier. However, falling green metal prices are making EVs accessible, says Ankit Sharma, CEO & Co-Founder, Vidyuta Materials Pvt Ltd.

What if your car could charge in 10 minutes, drive 500 kilometers, and help create a greener future? Electric vehicles (EVs) are driving us toward this vision, and India is a key player in this global transformation. With EV sales growing by 20% in 2024—reaching 100,000 units compared to 82,688 in 2023—electric vehicles now represent 2.4% of total vehicle sales, according to the Federation of Automobile Dealers Associations (FADA). This rapid adoption highlights a significant shift in consumer preferences, propelled by advancements in EV battery technology.

At the heart of this transformation lies battery innovation; unlocking breakthroughs in sustainability, affordability, and performance. While lithium-ion batteries have been the backbone of this progress, emerging technologies and innovations in Cathode Active Materials (CAM) are poised to redefine the industry’s future.

Lithium-ion batteries have revolutionised the EV market with their high energy density, fast charging cycles, and long lifespans. Today, they power most EVs globally and have played a critical role in reducing reliance on internal combustion engines.

However, lithium-ion batteries come with limitations. Their reliance on scarce materials such as lithium, cobalt, and nickel has driven up costs and raised concerns about environmental sustainability and ethical sourcing. To overcome these challenges, manufacturers are exploring alternative chemistries within the lithium-ion family:

• Lithium-Iron Phosphate (LFP) Batteries: These batteries eliminate cobalt and nickel, offering a safer and more cost-effective solution while aligning with sustainability goals.

• Lithium-sulfur batteries: Featuring a sulfur-based cathode, these batteries promise enhanced energy density and affordability, addressing range anxiety among EV users.

Emerging battery technologies

As the limitations of lithium-ion technology become evident, alternative battery chemistries are paving the way for the next generation of EVs:

• Solid-state batteries: Using solid electrolytes instead of liquid, these batteries promise faster charging, improved safety, and 25–50% longer ranges. They are lighter, making them ideal for high-performance EVs.

• Sodium-ion batteries: With sodium being significantly more abundant than lithium, these batteries offer a low-cost alternative for mass-market EVs. The commercialisation of sodium-ion batteries by Natron Energy in 2024 demonstrates their growing potential.

 

• Zinc-manganese oxide batteries: By delivering higher energy density at a competitive cost, this chemistry addresses one of the largest barriers to EV adoption—affordability.

• Organosilicon electrolyte batteries: These batteries prioritise safety by engineering liquid solvents at the molecular level, mitigating risks such as overheating and leakage.

Each of these technologies caters to different use cases, from cost-sensitive mass adoption to premium, high-performance vehicles.

Driving innovation in batteries

Cathode Active Materials (CAM) are at the core of EV battery performance, directly influencing energy density, cycle life, and overall safety. Recent advancements in CAM technology are not only boosting battery efficiency but also addressing challenges related to sustainability and cost.

• Nickel-rich cathodes and cobalt-free alternatives: Nickel-rich chemistries, such as NMC 811 (80% nickel, 10% manganese, 10% cobalt), remain critical for delivering high energy density and long-range capabilities, particularly for premium EVs. While NMC 811 has reduced cobalt content compared to earlier formulations like NMC 622, it still relies on cobalt, which poses challenges around cost, supply chain risks, and ethical sourcing. 

• To address these limitations, manufacturers are exploring low-cobalt and cobalt-free alternatives to meet the industry’s growing demand for sustainability and affordability: NMC 9.5.5: With nickel content exceeding 90% and cobalt below 5%, this formulation reduces costs while maintaining the high energy density required for

long-range EVs. 

• Lithium Nickel Manganese Oxide (LNMO): A promising cobalt-free alternative, LNMO offers high voltage operation, superior cycling stability, and environmental benefits, although commercial scalability remains a challenge. 

• Lithium Manganese Iron Phosphate (LMFP): Building on the proven stability and affordability of LFP (Lithium Iron Phosphate), LMFP introduces manganese to achieve: 

• Higher energy density: LMFP provides 15–20% greater energy density than LFP, making it suitable for mid-range EVs requiring longer ranges. 

• Enhanced safety: Retaining the strong thermal stability of LFP, LMFP ensures safety during high-temperature operations, especially in regions with extreme climates. 

• Cost effectiveness: Like LFP, LMFP eliminates cobalt and nickel, leveraging abundant and inexpensive materials like iron and manganese.

• Sulfur-based cathodes: Research into sulfur-based cathodes is making significant progress, offering the potential for batteries with dramatically lower costs and higher energy storage capacities. Sulfur is abundant, inexpensive, and environmentally benign, making it a promising alternative for large-scale adoption.

LMFP is rapidly gaining traction as a strong candidate for mass-market EVs, especially in applications requiring a balance between range, cost, and safety. By integrating advancements in nickel-heavy chemistries with cost-effective solutions like LMFP, battery manufacturers are expanding the range of options to cater to diverse EV segments—from premium vehicles to mass-market models.

India, under initiatives like Atmanirbhar Bharat, is focusing on building a sustainable domestic CAM manufacturing ecosystem to reduce its dependence on imports from China, which currently dominates 90% of the global CAM supply. This shift will not only enhance energy security but also position India as a key player in the global EV supply chain.

Affordability and sustainability remain two of the biggest hurdles for EV adoption. Battery costs, driven by the prices of raw materials, have traditionally been a barrier. However, falling green metal prices and advancements in production technologies are making EVs increasingly accessible. According to Goldman Sachs, these trends could soon bring EVs within reach of a broader consumer base.

Sustainability is equally critical. The fast-paced adoption of EVs has raised concerns about waste management. Current recycling technologies can recover up to 95% of valuable materials like lithium and cobalt, fostering a circular economy. This reduces dependency on mining, minimises environmental impact, and supports the industry’s transition toward greener practices.

India’s EV ecosystem is at a tipping point. Government initiatives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program and the Production-Linked Incentive (PLI) scheme are creating a favourable environment for domestic EV and battery manufacturing. However, challenges like limited charging infrastructure and dependence on imported materials persist.

By investing in upstream and midstream activities—such as securing critical raw materials, expanding refining capacities, integrating recycling systems, and setting up facilities for cathode, anode, electrolyte, and cell manufacturing—India can significantly reduce its reliance on imports, enhance energy security, and establish itself as a global leader in the EV market.

Collaborative efforts among policymakers, manufacturers, and researchers will be crucial to addressing supply chain bottlenecks, fostering innovation, and driving sustainable, long-term growth.

The EV revolution is being fueled by rapid advancements in battery technology, from lithium-ion innovations to emerging chemistries like solid-state and LMFP. Addressing challenges around cost, sustainability, and supply chain dependencies is critical to making EVs accessible and efficient for the global market.

India is uniquely positioned to lead this transition by focusing on upstream resource security, midstream infrastructure like cathode, anode, and electrolyte production, and robust recycling systems. Collaborative efforts among policymakers, researchers, and industry leaders will be vital in overcoming bottlenecks and fostering innovation.

With strategic investments and innovation, EVs can evolve from an alternative solution to a global cornerstone of sustainable transportation, driving economic growth and environmental progress for the future.

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Ankit Sharma, a dynamic entrepreneur and Co-Founder & CEO of Vidyuta Materials Pvt Ltd, brings a wealth of expertise and vision to the clean energy sector. With a Bachelor's degree in Electrical Engineering from The University of Texas at Austin, Ankit's journey to entrepreneurship has been shaped by a diverse range of experiences. As CEO of Vidyuta, Ankit is dedicated to aligning the company with global technology standards set by leaders like Japan, China and South Korea. Sharma's professional journey began at WSP in Houston (the U.S.), where he developed his skills as an electrical design engineer. Venturing into the realm of startups, Ankit founded Airific Systems Pvt. Ltd. in 2020, focusing on ultraviolet filtration in air applications. The onset of COVID-19 accelerated the company's growth. Joining his family's business, Advant IT Park Pvt Ltd, Ankit spearheaded the implementation of 3-D design modeling for construction projects, specialising in 3-D BIM Modeling.