Jaipur (Rajasthan), 9th May 2023: According to claims from the Rajasthan government authorities and the Geological Survey of India (GSI), significant lithium reserves have been detected in the Degana municipality of Rajasthan’s Nagaur district.
These reserves are estimated to contain much more lithium than the recently discovered 5.9 million tonnes in Jammu and Kashmir.
Officials claim that the amount of lithium discovered in Rajasthan can supply around 80% of the country’s demand and necessity.
Lithium is both the lightest and softest metal on the planet. It is a nonferrous metal that transfers chemical energy to electrical energy and is a critical component in EV batteries.
India currently relies on imports for numerous minerals such as lithium, nickel, and cobalt, and has been aiming to boost its supply of these important minerals, which are otherwise critical for pursuing its goals to grow its electric vehicle footprint.
At the moment, Australia produces 47 percent of the world’s lithium, Chile produces 30 percent, and China produces 15 percent. However, China processes 58 percent of the mineral, Chile 29 percent, and Argentina 10 percent.
Varun Goenka, CEO & Co-Founder, Chargeup commented, “As India discovers significant lithium reserves in Rajasthan, in addition to the previously discovered reserves in Jammu and Kashmir, the country is well positioned to become the 3rd largest market for EVs in the next 4 years.”
He also said, “Batteries, being the single largest cost and supplies dominated by China, have been a major obstacle for India’s EV industry. However, with the ‘Make in India’ initiative and the discovery of lithium reserves, India is now able to reduce its dependence on foreign countries and control the fluctuating price of lithium. This development not only enables India to meet its domestic requirements but also allows it to supply lithium to other countries, creating a promising future for the country’s EV industry…”
