Investments and startups can lead the path of EV adoption in India

- Advertisement -
- Advertisement -

With changes in the automotive industry of India seemingly coming with the speed of light, helping local manufacturers and industry professionals keep pace with the technology and policy was the goal of Electric Vehicle Summit.

image for representational purpose only

Friday’s summit organised  by PHD Chamber of Commerce saw massive participation of  ministries and industry delegates related to the sector. The day-long event featured various stakeholders who presented a roadmap for smooth transition to electric vehicle and and also discussed the possible hurdles of the journey.

While addressing the session Deepak Sood, Chief Executive Officer, Invest Karnataka Forum pointed out that 95 percent of the electric vehicles running across the globe is actually from the some of the developed countries and the problem here is adaptation. He, however, was quite hopeful that startup ecosystem of this country can bring a remarkable change and they have the capacity to commodities this industry.

- Advertisement -

Explaining further, Sood told Electronics Bazaar “Innovations in manufacturing of EVs and batteries requires lots of passion in terms of technology understanding and they (startups) are the ones who are going to bring this change. These newcomers have the potential and ideas  to cross-fertilise their understanding of automotives and machine tools and can come up with affordable solution.” He also stated that batteries for EVs will soon become the new oil and will drastically reduce the India’s dependency on fossil fuels.

Experts also underlined that since multiple battery technologies are available at present, it is actually creating a chaos and disrupting the path of investment. Ashok Kumar Prusty, Executive Vice President, Bry- Air (Asia) Pvt Ltd pointed out that it will also impact the volume and if we don’t have the volume the economies of scale is not going to come.

Suggesting on how government can encourage investment to boost local battery makers, said to Electronics Bazaar “Without government’s hand holding no company is going to invest such a large amount just for a manufacturing base. So, government should first go for a particular technology and become the key investor in the beginning. And once the business take the leap hand it over to the private entities. ”

By Shruti Mishra

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...
XR Headset Quest 3, Meta

Global XR Headset Shipments See A Major Decline, Sony Rises

0
Sony grabbed a market share of 24% in 2023 up from 1% in 2022. Bulky form factor, and lag, hinder adoption by serious...

Buzz

Tenstorrent- RISC V cores

MosChip Collaborates With Tenstorrent For Advanced RISC-V Cores

0
Tenstorrent has selected Moschip due to their tape out expertise in design services. India’s MosChip Technologies has announced partnership with computing company Tenstorrent and to...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Important Sectors

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

RRP Electronics To Invest ₹5000 Cr In OSAT and R&D In Maharashtra

0
Cricket legend Sachin Tendulkar is investing in this semiconductor facility. Such celebrated personalities investing in the sector could be a great asset to the...

Subsidy Cuts Push E2W Makers Towards Budget Models

0
Electric two-wheeler manufacturers face reduced government subsidies and growing competition from established petrol vehicle brands in the upcoming fiscal year. These challenges compel them...

Nissan To Invest In Renault’s Ampere For EV Roadmap

0
The alliance aims to introduce both five-seater and seven-seater models for each brand in India. Japan's Nissan Motor has committed to investing in Renault's electric...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...