In 2023, the majority cost for lithium-ion batteries in India was contributed to materials. Among LFP, NMC 811, and MNC 622 batteries, LFP had the lowest cost of materials at 51.4 percent. On the other hand, NMC 811 batteries had the lowest manufacturing cost at 14.6 percent.
Cost breakdown of lithium-ion battery pack in India in 2023, by type
LFP: Lithium iron phosphate battery.
NMC 811: Lithium nickel manganese cobalt oxide battery with cathode comprised of 80% of nickel, 10% of cobalt and 10% of manganese (8:1:1).
NMC 622: Lithium nickel manganese cobalt oxide battery with cathode comprised of 60% of nickel, 20% of cobalt, and 20% of manganese (6:2:2).
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NITI Aayog. (July 14, 2023). Cost breakdown of lithium-ion battery pack in India in 2023, by type [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/
NITI Aayog. "Cost breakdown of lithium-ion battery pack in India in 2023, by type." Chart. July 14, 2023. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/
NITI Aayog. (2023). Cost breakdown of lithium-ion battery pack in India in 2023, by type. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/
NITI Aayog. "Cost Breakdown of Lithium-ion Battery Pack in India in 2023, by Type." Statista, Statista Inc., 14 Jul 2023, https://www.statista.com/statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/
NITI Aayog, Cost breakdown of lithium-ion battery pack in India in 2023, by type Statista, https://www.statista.com/statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/ (last visited December 22, 2024)
Cost breakdown of lithium-ion battery pack in India in 2023, by type [Graph], NITI Aayog, July 14, 2023. [Online]. Available: https://www.statista.com/statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/
