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

- 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

Buzz

CloudBees

CloudBees Appoints New CEO

0
CloudBees, a software delivery platform for businesses recently announced the appointment of Anuj Kapur as the President and Chief Executive Officer. Before he was...
Legado

Legado Acquires B2B Tech From WonderBill

0
Legado, an open document and data platform specialist, recently announced the acquisition of consumer and B2B bill management technology from WonderBill. Established in 2016,...
AstroPay

AstroPay Appoints New CFO

0
AstroPay, a global payment solutions provider recently announced the appointment of Fayyaz Ansari as the Chief Financial Officer. He has worked for over two...

Exclusive

“Inquisitiveness To Explore Makes A Big Difference…”

0
There are many who aspire to hold prestigious positions at big corporate houses, but very few are willing to work hard enough for it....
Japanese, InnovationLab

InnovationLab Unveils Additive PCB Production

0
InnovationLab, a printed electronics company, “from lab to fab,” recently claimed that it has achieved a breakthrough in additive manufacturing of PCBs, which in...

EV Sales Leap More Than 200%YoY in July

0
Reaching 79,720 units, the total EV sales in July 2022 increased 8.8% MoM and more than 200% YoY. Major EV registrations for the month were...

Important Sectors

Legado

Legado Acquires B2B Tech From WonderBill

0
Legado, an open document and data platform specialist, recently announced the acquisition of consumer and B2B bill management technology from WonderBill. Established in 2016,...
Moon

Hyundai and Kia Partner For Moon Exploration

0
Hyundai and Kia recently announced a joint venture and signed a research agreement with six Korean research institutes to form a consultative body that...
Sceye Rises to Stratosphere WIth HAPS

Sceye Rises to Stratosphere WIth HAPS

0
Sceye, a High-Altitude Platform Stations (HAPS) manufacturer, recently announced that it successfully reached the stratosphere on June 14, 2022, where the main aim was...
Intel, Digital India, CPU

Intel’s CPU Delay Throws Off TSMC’s Plans

0
A market research firm out of Taiwan TrendForce recently enunciated on the chip market and supply chain, on August 5 Intel postponed the Meteor...
Reality AI, Renesas, RTOS

RTOS Compatible MPUs by Renesas

0
Renesas Electronics recently unveiled the RZ/A3UL group of microprocessors (MPU) that claims to enable a high-definition human-machine interface (HMI) and quick start-up for applications...

Manufacturing

Polymatech Will Invest USD 1 Billion On Expansion

0
Polymatech semiconductor manufacturing and packing facility is expected to produce 250 million chips per year with an investment of USD 1 Billion. The company will...

Third-largest by 2026: Indian Auto Sector

0
Going by the latest report of Invest India, the automotive sector will reach the mark of $300 billion by 2026. It will make India...

Flex Sees Growth With Smart Cities Mission

0
Flex CEO Revathi Advaithi, who started with the benign manufacturing field and now sits at the helm of this multinational company, considers the growing...

RISC-V Global Summit From December 12th to 15th, 2022

0
RISC-V International has the dates for its 2022 Global Summit North America. The event is a full in-person schedule at San Jose, California. Attendee...

World’s First 3nm Chips by Samsung

0
The 3-nanometer (nm) manufacturing node using the Gate-All-Around (GAA) transistor architecture by Samsung Electronics has begun. This production, when matched to its 5nm process, consumes...