India to be the second largest e-Vehicle Market by 2030

India to be the second largest e-Vehicle Market by 2030

New Delhi: Confederation of Indian Industry (CII) organized Next-Gen e-Mobility Summit in the capital today to discuss the potential of the e-Vehicle market in India. Eminent people from the industry participated in the event. A CII-Grant Thornton Knowledge Report titled Future of Mobility was released during the summit.

Amit Srivastava, DG, DMEO & Adviser (Infrastructure Connectivity, NITI Aayog, Government of India addressed the Summit and said, “India has the potential to be the second largest e-Vehicle Market by 2030.”

He further said under Next-Gen Mobility, our efforts must be focused towards making sustainable mobility a public good and NITI Aayog is in consultation with the stakeholders for achieving this aim.

Srivastava also emphasized that NITI Aayog is working on strategies to turn to the country’s advantage the disruptions that are taking place in the automobile industry with the advent of next-gen e-mobility.

Rattan Kapur, Summit Chairman & Past Chairman, CII Haryana State Council & CMD, Mark Exhaust Systems Ltd mentioned that India’s transportation architecture should be based on a combination of fuel sources, instead of focusing just on electric vehicles and this will lead to giving much-needed relief to the country’s automobile manufacturers.

Speaking on the occasion, Abhay Firodia, Chairman, Force Motors Ltd, said, “For the next-gen mobility to be a success there is a need to bring in cultural change along with technology, infrastructure and R&D up-gradation. There is also a need for constructive collaboration between regulators and industry.”

Mahesh Babu, CEO, Mahindra Electric Mobility Ltd, emphasized that maximum penetration of e-mobility will be through fleets, last mile connectivity, and all stakeholders should work together to make India the 2nd largest e-vehicle market by the year 2030. He also said that next-gen mobility is going to be about clean, connected and convenient solutions.

Saket Mehra, Partner – Advisory, Grant Thornton India LLP made the theme introduction and said that the advent of new mobility era of powertrain electrification, digital connectivity and software integration, forged the auto industry to experience a capacity redesign to seize three new growth markets. He added that it’s the right time for India’s automotive industry to display its resilience and capability on the global stage.

Jasmohan Singh, Chairman, CII Haryana State Council said, “Disruptions are here and happening. We need to gear up to take on the emerging challenges and seize the opportunities embedded in the disruptions and transition.”