Page 25 - MMI_-- JulyAug2021 (single)

Source: Hexagon Manufacturing Intelligence, India The initial

cost to
own an EV
is much
higher
compared
to ICE
vehicles.
Policies
giving tax
breaks to
the people
in particular, what some call However, we believe that ICE vehicles. There is still much who want
the ‘lithium triangle’ of Argen- technology will go a long way to be done to bring this cost to purchase
tina, Chile and Bolivia, current- towards addressing these con- down, but for starters, policies an EV
ly dominate 80-90 percent of cerns. Canadian-based MGX giving tax breaks to the peo- would help
lithium production. Minerals, for example, is work- ple who want to purchase an bring the
It is not without its contro- ing to find accessible and un- EV would help bring the cost cost down.
People, too,
versies: indigenous people in derutilized lithium stores. Since down. People, too, need to be need to be
the ‘lithium triangle’ worry 2016, the company has been educated that in the long run, educated
that the high levels of water testing a nano-filtration system the cost of an EV is far lower that in the
needed to produce lithium, that uses a set of highly special- than an ICE vehicle. long run,
which can reach as much as ized membranes to passively The good news is: according the cost of
an EV is
half a million gallons per tonne, sift lithium from wastewater, to Bloomberg New Energy far lower
could put immense pressure which increases returns at a Finance, global battery-making than an ICE
on their already-scarce water much-reduced time. capacity could double by 2021, vehicle.
supply. These concerns have Cost is also a barrier to many while lithium-ion batteries are
triggered protests against the consumers. The initial cost to forecasted to be up to 43 percent
exploitation of the resources by own an EV, without a doubt, cheaper by that same year.
large companies. is much higher compared to Charging infrastructure makes
the next puzzle piece. Even as
charging infrastructure con-
tinues to increase, range anxi-
Source: Hexagon Manufacturing Intelligence, India from other countries. When
ety is still one of the key chal-
lenges. India is quite different

we speak of EVs, we are not
just talking about passenger
vehicles, we are talking about
two-wheelers, three-wheelers
like auto-rickshaws, as well as
commercial vehicles.

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