The growing demand for electric vehicles across the world has directly increased the demand for lithium-ion batteries. Due to the unavailability of lithium reserves in India, this would be feasible only if a foreign company comes to the rescue. This foreign company can enjoy monopoly and make maximum profits with such a large market base. Even though it would take a long time in the setup process and to break even after the huge initial investment, this would be profitable from a long-term perspective. The government continually seeks to expand in this sector as it wants to produce 175 GW of renewable energy by 2022 and carry out a massive theft of electric vehicles by 2030. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original Essay Today the entire world is moving towards electric vehicles in all segments of the automotive industry, India has already seen an increase in the use of such vehicles in the scooter and public transport segments. It is believed that by the end of 2030, due to the limited availability of fossil fuels, there will be a shift in market conditions from petrol or diesel-powered vehicles to hybrid, micro-hybrid or electric vehicles (EV). The raw material needed for the production of such vehicles is lithium-ion batteries. Lithium batteries have a high level of density and are therefore considered the most favorable for this sector. Lithium is mainly present in salt lakes of countries such as Argentina, Chile, Bolivia, China, etc. Today, China is the largest electric vehicle producing nation and is the largest consumer of lithium in the world. No such lithium resource has yet been found. The government is believed to be making continuous efforts with Bolivia and Argentina to create joint ventures today, meeting the demand of tomorrow. Despite continuous efforts, nothing concrete has emerged and India is still lagging behind in the EV segment due to lack of infrastructure, partial knowledge, limited resources and lack of interest from the government in terms of subsidies and automotive industries. Companies like Panasonic Sanyo (Japan), Contemporary Amperex Technology Ltd (China), BYD Ltd. (China), LG (Korea) are the major manufacturers of lithium-ion batteries. It is high time such companies think of India as their target market. The process is long but with financial support from the government, results can be achieved in a few years. The LG company already had a point of reference in the Indian consumer market, as it is one of the best rated companies for electronic consumer goods such as: microwaves, air conditioners and washing machines. It is possible for LG Chemicals to partner with Mahindra and Mahindra (only electric car seller in India), Exide or Amara Raja Battery, the local battery manufacturing companies, to start manufacturing lithium-ion batteries on a large scale. Electric vehicles in India. Profit margins can be high due to product monopoly. Increased global market share, as India is one of the largest consumers of automobiles in the world. Decrease in the level of pollution with the increased use of fossil fuels. Organized supply chain structure, deeply penetrated into every corner of the country will lead to greater reach to customers. Obstacles Please note: This is just an example. Get a custom paper from our expert writers now. Get a custom essay The lack of government support could lead to a decrease in interest from foreign companies. The need for.