LFP: Lithium iron phosphate battery.
NMC 811: Lithium nickel manganese cobalt oxide battery with cathode comprised of 80% of nickel, 10% of cobalt and 10% of manganese (8:1:1).
NMC 622: Lithium nickel manganese cobalt oxide battery with cathode comprised of 60% of nickel, 20% of cobalt, and 20% of manganese (6:2:2).
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Cost breakdown of lithium-ion battery pack in India 2023, by type
In 2023, the majority of cost for lithium-ion batteries in India was contributed to materials. Among LFP, NMC 811, and MNC 622 batteries, LFP had the lowest cost of materials at **** percent. On the other hand, NMC 811 batteries had the lowest manufacturing cost at **** percent.
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NITI Aayog. (July 14, 2023). Cost breakdown of lithium-ion battery pack in India as of 2023, by type [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 26, 2026, from /statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/
NITI Aayog. "Cost breakdown of lithium-ion battery pack in India as of 2023, by type." Chart. July 14, 2023. ÌÇÐÄÆƽâ°æ. Accessed July 26, 2026. /statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/
NITI Aayog. (2023). Cost breakdown of lithium-ion battery pack in India as of 2023, by type. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 26, 2026. /statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/
NITI Aayog. "Cost Breakdown of Lithium-ion Battery Pack in India as of 2023, by Type." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 14 Jul 2023, /statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/
NITI Aayog, Cost breakdown of lithium-ion battery pack in India as of 2023, by type ÌÇÐÄÆƽâ°æ, /statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/ (last visited July 26, 2026)
Cost breakdown of lithium-ion battery pack in India as of 2023, by type [Graph], NITI Aayog, July 14, 2023. [Online]. Available: /statistics/1415573/india-cost-breakdown-of-li-ion-battery-pack/
