Recently, research firms EVTank and Ivey Economics Research Institute, in association with China Battery Industry Research Institute, released the "India Lithium-ion Battery Import Market Annual Research Report (2024)". The report shows that India's lithium-ion battery imports in 2023 totaled $3.32 billion, totaling 1.03 billion lithium-ion batteries.

The research report shows that the top ten companies exporting lithium-ion batteries to India in 2023 mainly include Guoxuan Gaoke, South Korea's LGES, ATL, Xinwanda, South Korea's Samsung SDI, BAK Batteries, Japan's Panasonic, Hengdian Dongmag, and YIWEI Li-energy, etc., with China's Guoxuan Gaoke and South Korea's LGES taking up a share of 12.9% and 11.4% respectively in India's lithium-ion battery import market.
EVTank said that Guoxuan Gaoke is mainly supplied to India's Tata Motors, while LGES is mainly supplied to India's local TVS MOTOR, Ather Energy, OlaElectric, HERO MOTO and other electric two-wheeled vehicle enterprises through export.
In terms of country of origin of imported lithium-ion batteries, EVTank data shows that more than 90% of lithium-ion batteries imported into the Indian market in 2023 will come from China, by South Korea and Vietnam.
EVTank research report suggests that battery manufacturers pay more attention to the lithium-ion battery market in Southeast Asian countries represented by India and Vietnam, etc. For more detailed information, please refer to the full version of "India Lithium-ion Battery Import Market Annual Research Report (2023)".