An Indian entrepreneur, Anjani Sri Mourya Sunkavalli, has made headlines by acquiring one-third of the Brazilian miner CBL’s refinery, making it the only facility outside of China that can convert hard rock lithium into electric battery materials. Backed by India’s Prime Minister Narendra Modi and coming from an influential family, Sunkavalli sealed a $40 million deal in Hyderabad with CBL executives, highlighting a strategic move aimed at strengthening India's upcoming electric vehicle and battery production industry.

This acquisition is a critical step for India as it seeks to establish a self-sufficient supply chain for batteries and electric vehicles, reducing its reliance on Chinese supply. Although the deal’s financial scope is relatively small compared to other billion-dollar transactions typically found in the sector, its significance lies in the technology transfer from CBL, enabling Sunkavalli to establish larger refineries back in India. The move aligns with India’s broader ambitions to become a major player in the global electric vehicle market.

Sunkavalli, who leads the Altmin company, aspires to pioneer the manufacturing of battery cathodes in India, paving the way for the country’s full-fledged entry into the burgeoning electric vehicle market. This initiative not only reflects India’s increasing focus on technology adoption in energy sectors but also signals a shift towards strategic partnerships in the lithium supply chain, inherently tied to the global push for sustainability and clean energy alternatives.