As governments and government agencies across the world push for more electric vehicles and electrified propulsion technologies, there is an increased demand for various types of electric vehicles across all countries.
Since batteries and electric motors continue to be crucial components for EVs, the demand for raw materials to make these components will rise, accordingly. Moreover, India is said to import more than 53 per cent of its lithium from China – A vital raw material to make batteries for EVs.
Now, in a recent turn of events, massive reserves of lithium has been discovered in Degana, Rajasthan. In fact, it is estimated that the Rewat hill area of Degana has more reserves of lithium than the one recently found in Jammu & Kashmir.
Thanks to this recent discovery, India will not have to depend on China or any other nation for lithium in the future. It is also estimated that lithium found in the Rewat Hills of Rajasthan will meet India’s 80 per cent demand.
Speaking about lithium, it is the lightest metal on earth. In fact, lithium can float on water. Other than that, this metal is very soft and it can be easily cut using a kitchen knife. However, this metal can very well store chemical energy and convert it into electrical energy.
Also, thanks to its increasing demand, lithium is also called White Gold. Speaking of value, the global value of 1 ton of lithium is estimated to be around Rs 57.36 lakh. Furthermore, World Bank claims that the value of lithium will increase up to 500 per cent by 2050.
Thanks to the enormous lithium reserves in the Rewat Hills of Rajasthan, India will no longer have to depend on China or any other nation for lithium in the future. This will allow the country to have much better control over the price of locally manufactured EVs as well.
