Chemicals – Manthan – The dragon’s hegemony | tough days ahead for battery value chain in India
Published on 31 Aug 2026
Exactly a year back, we covered the collapse of Northvolt in our research. That was the most ambitious project of the West to challenge the dominance of the Chinese in EV battery manufacturing- a company founded by Tesla veterans on the back of a decade of advancements on Li-ion, Na-ion and Li-metal batteries, with secured funding of USD15bn and an order book of ~USD50bn, finally closing the shutters in Nov’24 with declaration of bankruptcy.
