E-mobility is gaining importance in India22. January 2019
In recent years, the Indian automotive industry has been able to present numerous innovations and is on the upswing. The industry has the potential to generate over $ 300 billion in revenue by 2026, create 65 million additional jobs, and contribute over 12 percent to India’s GDP. But the population of India is constantly growing and by the year 2031 approximately 600 million people will live in India’s cities. As a result of this consolidation, the subject of intelligent mobility and e-mobility is also gaining in importance, and the Indian automotive industry would like to make an important contribution to this.
As early as 2017, former Indian Energy Minister Piyush Goyal announced that he plans not to sell cars with combustion engines in the country by 2030. While global sales of electric vehicles, with the exception of China, still play a minor role, certain factors and examples from other countries may increase India’s market share of electric vehicles. Many countries promote the production of electric cars and provide incentives for both manufacturers and customers. The technology for electric vehicles is constantly evolving, especially the capacity of the battery and range could be increased. In addition, the necessary infrastructure of the power grid and charging stations must be present in order to be able to charge the vehicles anytime, anywhere. The demand for electric vehicles needs to be boosted. According to McKinsey, the current high price of alternative drive vehicles is one of the main reasons for the reluctance of potential buyers.
The Indian government and automotive industry have recognized this trend and the need for environmentally friendly vehicles. Last year, numerous models were introduced, many of which are developed or produced in India. The portfolio ranges from electric scooters and motorcycles to tricycles to full-blown SUVs. This development will have a significant impact on manufacturers and suppliers in the automotive industry and could lead to change and shifts in the current market.
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