Vedanta, a leading Indian conglomerate, is planning to expand its nickel and nickel sulphate production to meet the growing demand for electric vehicle (EV) battery materials in Northeast Asia. The company aims to capitalize on the increasing need for these materials in countries like Japan and South Korea, where the EV market is more developed compared to India’s nascent EV industry.
To support this expansion, Vedanta has urged the Indian government to negotiate with Japan and South Korea to remove import duties on nickel sulphate, a key component in EV batteries. This move is intended to enhance the competitiveness of Indian-produced nickel sulphate in these markets.
By increasing its production capacity, Vedanta aims to contribute to India’s export targets, which include boosting overall goods exports to $1 trillion by 2030. The company views the export of nickel sulphate as a significant opportunity to drive the growth of India’s exports and support the nation’s economic objectives.
This strategic initiative aligns with India’s broader goals to promote cleaner technologies and reduce carbon emissions, as nickel is identified as a critical resource for such advancements. The government’s support for local EV and battery manufacturing further complements Vedanta’s efforts in this sector.
