Toshiba, Suzuki and Denso Plans to Build Lithium-ion Batteries in India

The increased focus on production of lithium-ion batteries for electric vehicles is expected to drive the market for EV infrastructure

India: Suzuki Motor Corp. have decided to form a joint venture with the two renowned Japanese firms, Denso Corp. and Toshiba Corp., for the production of lithium-ion batteries for electric vehicles in the country.

The joint venture has been formed to support the deployment of electric vehicles across the region. The surge in deployment of electric vehicles would promulgate the demand for charging infrastructure which would drive the market for electric vehicle infrastructure business in the country in approaching years.

TechSci Research depicts that various governments across the globe have focused on reduction of harmful gas emissions from the automobile sector, thereby formulating policies to increase the penetration of electric vehicles in the transportation sector. The increasing focus of government of various countries across the globe, to encourage the usage of electric vehicles, would enhance the demand for electric vehicle infrastructure in near future.

According to released report of TechSci Research “Global Electric Vehicle Infrastructure Market By Type (AC Charger & DC Charger), By Installed Location (Commercial & Residential), By Region (North America, Europe & Asia-Pacific), Competition Forecast and Opportunities, 2011 - 2021”, the global market for electric vehicle infrastructure is forecast to grow at a CAGR of over 27% during 2016-2021, on account of favorable government policies that promote adoption of electric vehicles and growing concerns over harmful effects of air pollution. Additionally, grid integration of electric vehicles is projected to offer huge impetus to global electric vehicle infrastructure market in the coming years. Evolution of smart grid technologies and the concept of virtual power plants is forecast to further boost the global market for electric vehicles and its related charging infrastructure in the coming years. The option of power trading for electric vehicles owners is also expected positively influence the global electric vehicle infrastructure market during the forecast period.