India’s electric vehicle (EV) story is moving fast—and if vehicles are the body, batteries are the soul. From electric two-wheelers and e-rickshaws to electric trucks and buses, everything depends on reliable, affordable, and scalable battery technology. As fuel prices rise and emission norms tighten, India is witnessing a strong shift toward electric mobility, making EV battery manufacturing one of the most strategic industries in the country.
What makes this space even more interesting is that several major EV battery and battery-related companies in India are listed on stock exchanges. These companies are not just experimenting with EV tech; they are investing real capital, building factories, and shaping the future of India’s EV ecosystem.
In this article, we’ll explore the top 10 listed electric vehicle battery manufacturers in India, understand what each company does, why it matters, and how it fits into the EV value chain. This guide is especially useful for EV enthusiasts, industry professionals, and readers of evtruckindia.com who closely follow EV news, trucks, e-rickshaws, loaders, cars, and electric bikes.
Why EV Battery Manufacturing Is Critical for India
EV batteries account for nearly 30–40% of the total vehicle cost, making them the single most expensive component. Today, India still imports a large share of lithium-ion cells from China, South Korea, and Japan. This dependency affects pricing, supply stability, and long-term growth.
Local EV battery manufacturing helps India by:
- Reducing import dependency
- Lowering EV costs
- Creating jobs and industrial capacity
- Supporting energy storage and renewable integration
- Strengthening national energy security
Government initiatives like the PLI Scheme for Advanced Chemistry Cell (ACC) Batteries are accelerating investments by listed Indian companies, making this the right time to track who’s leading the race.
Top 10 Listed Electric Vehicle Battery Manufacturers in India
1. Exide Industries Limited
Website: https://www.exideindustries.com
Exide Industries is one of India’s most trusted battery brands, with decades of dominance in lead-acid batteries. But what truly matters today is how Exide has successfully transitioned into the lithium-ion and EV battery space.
Through its subsidiary Exide Energy Solutions, the company focuses on lithium-ion battery packs for electric vehicles and stationary energy storage systems. Exide has already supplied EV batteries to electric two-wheelers, three-wheelers, and commercial EV manufacturers.
Exide’s biggest advantage is its scale, manufacturing discipline, and brand trust. OEMs prefer working with reliable partners, and Exide’s nationwide footprint gives it an edge. With strong investments in localized production, Exide is expected to remain a key pillar of India’s EV battery ecosystem.
2. Amara Raja Energy & Mobility Limited
Website: https://www.amararaja.com
Known for the popular Amaron brand, Amara Raja is rapidly transforming itself from a conventional battery maker into a future-ready energy and mobility company.
The company is investing heavily in lithium-ion battery packs, EV charging infrastructure, and advanced energy storage solutions. One of its most significant moves is the planned setup of large-scale lithium-ion cell manufacturing (gigafactories) in India under the PLI ACC scheme.
Amara Raja’s deep relationships with automotive OEMs, strong R&D culture, and disciplined execution make it a serious contender in EV batteries. As electric scooters, e-rickshaws, and delivery vehicles grow, Amara Raja is well-positioned to supply batteries at scale.
3. Tata Chemicals Limited
Website: https://www.tatachemicals.com
Tata Chemicals plays a strategic and upstream role in India’s EV battery journey. Unlike companies focused only on battery packs, Tata Chemicals is investing in lithium-ion cell manufacturing, battery materials, and recycling.
Cell manufacturing is the heart of EV batteries—and also where India wants maximum localization. Tata Chemicals has announced plans for lithium-ion cell plants in India and abroad, targeting both EVs and grid-scale energy storage.
Backed by the Tata ecosystem (Tata Motors, Tata Power, Tata AutoComp), Tata Chemicals benefits from in-house demand and integrated planning. Its long-term focus on sustainability and recycling also gives it a strong edge in the evolving EV landscape.
4. Reliance Industries Limited
Website: https://www.ril.com
Reliance Industries has entered the EV and energy storage space with massive ambition. Through its New Energy Giga Complex in Jamnagar, Reliance is building facilities for solar modules, green hydrogen, fuel cells, and advanced battery storage.
Reliance has also acquired global companies working on battery chemistry and energy storage technologies, giving it access to cutting-edge intellectual property. While it may not yet be a direct EV battery supplier at scale, its focus on large-scale energy storage will play a crucial role in EV charging infrastructure and renewable integration.
In the long run, Reliance’s scale and capital strength could significantly reshape India’s EV battery economics.
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5. Himadri Speciality Chemical Limited
Website: https://www.himadri.com
Himadri Speciality Chemical is a critical upstream player in the EV battery value chain. The company focuses on advanced carbon materials, especially anode materials used in lithium-ion batteries.
Anode materials directly affect battery efficiency, lifespan, and charging speed. Himadri’s investments in battery-grade anode materials help reduce India’s dependence on imports and support local cell manufacturing.
As India scales lithium-ion cell production, companies like Himadri will become increasingly important. It may not assemble batteries, but without materials like these, EV batteries simply can’t exist.
6. Panasonic Carbon India Company Limited
Website: https://www.pci.panasonic.co.in
Panasonic Carbon India is part of the global Panasonic group, a name synonymous with lithium-ion battery innovation worldwide. In India, the company focuses on battery-grade carbon materials used in EV batteries and energy storage systems.
These materials enhance electrical conductivity and battery performance. While Panasonic Carbon India does not manufacture complete EV batteries locally, it plays a vital supporting role in the battery manufacturing ecosystem.
With India pushing for domestic cell production, demand for high-quality battery materials is set to grow—and Panasonic Carbon India stands to benefit from this expansion.
7. HBL Power Systems Limited
Website: https://www.hbl.in
HBL Power Systems is known for its expertise in high-reliability batteries and power electronics, especially for industrial, aerospace, and defense sectors. In recent years, it has expanded into lithium-ion and advanced battery systems.
HBL focuses on customized, performance-critical battery solutions, which are ideal for electric buses, commercial EVs, and specialized mobility applications. These segments require safety, durability, and long operating life—areas where HBL excels.
As India’s electric bus and commercial EV segment grows, HBL Power Systems is likely to see increasing relevance.
8. Eveready Industries India Limited
Website: https://www.evereadyindia.com
Eveready is a legacy power brand in India, known for dry-cell batteries and flashlights. Today, the company is transitioning toward rechargeable batteries and energy storage solutions.
While Eveready’s EV battery presence is still emerging, it has started investing in new-age power and storage technologies. With the right partnerships and product strategy, Eveready could leverage its brand recognition to enter light EV and storage segments.
9. Indo National Limited (Nippo)
Website: https://www.nippo.in
Indo National Limited, known for the Nippo brand, has decades of experience in battery manufacturing. The company is gradually aligning itself with rechargeable and EV-ready battery solutions.
Though still small in the EV battery space, Indo National’s manufacturing experience and distribution network could help it tap into electric two-wheelers, e-rickshaws, and small mobility solutions in the future.
10. JSW Energy Limited
Website: https://www.jsw.in/energy
JSW Energy is not a traditional battery manufacturer, but it is a major investor in energy storage solutions, which are essential for EV charging infrastructure.
The company is exploring large-scale battery storage projects that support renewable energy and EV charging networks. As EV adoption rises, grid-level storage will become just as important as vehicle-level batteries—making JSW Energy a strategic player in the broader EV ecosystem.
Challenges Faced by EV Battery Manufacturers in India
Despite rapid growth, the industry faces challenges:
- Dependence on imported lithium and cobalt
- High initial capital expenditure
- Technology gaps compared to global leaders
- Recycling and end-of-life battery management
However, these challenges are also opportunities for innovation and investment.
Future of EV Battery Manufacturing in India
India’s EV battery future looks promising, driven by:
- Local cell manufacturing
- Advanced chemistries like solid-state batteries
- Battery recycling and second-life applications
- Integration with renewable energy
As electric trucks, loaders, e-rickshaws, cars, and bikes grow—especially segments covered by evtruckindia.com—battery manufacturers will become the backbone of India’s clean mobility revolution.
Conclusion
The EV revolution in India is not just about vehicles—it’s about batteries, materials, energy storage, and long-term sustainability. The listed companies discussed above are building the foundation for India’s electric future.
From giants like Exide, Tata Chemicals, and Reliance to specialized players like Himadri and HBL, each company plays a unique role. Together, they form an ecosystem that will determine how fast and how affordably India transitions to electric mobility.
If you’re tracking EV news, EV trucks, e-rickshaws, loaders, cars, or bikes, keeping an eye on these battery manufacturers is no longer optional—it’s essential.
FAQs
1. Which is the largest EV battery manufacturer in India?
Exide Industries and Amara Raja are currently among the largest listed players actively investing in EV batteries.
2. Does India manufacture lithium-ion cells?
India is in the early stages, with companies like Tata Chemicals, Reliance, and Amara Raja setting up cell manufacturing facilities.
3. Are EV batteries made in India cheaper?
Local manufacturing helps reduce costs by cutting imports, logistics, and duties.
4. Which companies supply battery materials in India?
Himadri Speciality Chemical and Panasonic Carbon India supply key battery materials.
5. Is EV battery recycling growing in India?
Yes, recycling and second-life battery usage are emerging focus areas for sustainability.
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