EV Batteries: Retired Packs Could Become a ₹1 Lakh Crore Resource for India

India’s growing electric-vehicle fleet could create a major secondary resource as older batteries reach the end of their first vehicle life. A new study estimates that retired EV batteries could contain recoverable minerals worth about ₹1.01 lakh crore by FY2040-41.

The potential value comes from materials contained in used battery packs that could be recovered through recycling and other second-life applications. As EV adoption expands, the volume of batteries reaching retirement is expected to increase, creating both an industrial challenge and an opportunity.

The study highlights the importance of building collection, recycling and processing capacity so valuable materials can remain within the supply chain. Battery reuse and mineral recovery could become increasingly important parts of India’s electric-mobility ecosystem.