Cost breakdown of lithium-ion battery pack in India 2023, by type

Published by
Shangliao Sun,
Jan 30, 2024
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

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Release date

July 2023

Region

India

Survey time period

2023

Supplementary notes

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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