Dynamic Manufacturing India September – October 2022 edition
An EV (Electric Vehicle) revolution is afoot in India. And it is led by 2-wheelers and 3-wheelers. Passenger cars are not far behind. In one of the most comprehensive accounts of India’s EV story, sector experts with skin in the game tell us about factors shaping this exciting growth story.
The global EV market never looked this good. Global EV sales grew 38 percent in 2020, and then more than doubled the following year. China, the leading EV-making country reportedly sold more EVs in 2021, at about 52 percent of global sales, than the rest of the world combined. Europe’s biggest auto market Germany sold about 72 percent more EV cars in 2021 than the year before. The International Energy Agency (IEA) estimates that EV sales will hit an all-time high in 2022.
India’s EV story is no less riveting. India Energy Storage Alliance (IESA) expects the country’s EV market to grow at a CAGR of 49 percent between 2021-2030. The nature of the growth in India, however, is different from the big EV markets. Most EVs sold in India are 2-wheelers, which account for over half of the sales volume.
The next popular segment is three-wheelers which are not only making travel efficient and green but also providing jobs to a large number of people in the metros and the cities. Our cover story puts the spotlight on India’s EV story. The interview feature explores the main factors that are shaping India’s EV present and future growth, such as manufacturing and supply chain, the charging infrastructure, and most important of all, the compelling need for the switch to EVs. Twelve sector leaders, who provide us with hard-earned insights include Randheer Singh, Director – E Mobility and Senior Team Member for Advanced Chemistry Cell Program (ACCP), NITI Aayog; Bipul Chandra, Managing Director, Ducati India; Suman Mishra, CEO, Mahindra Electric – Last Mile Mobility; Dr. Yogesh Bhatia, MD and CEO, LML; Sameer Jindal, Director Engineering, MG Motor India; Atul Arya, Head – Energy System Division, Panasonic Life Solutions India; Uday Narang, Chairman, Omega Seiki Mobility; Amit Das, Founder and CEO, Electric One; Manish Narang, Co-Founder & CEO, EV Plugs (Techilogy Solutions Pvt. Ltd); Kapila Sandeep Soni, Managing Director, Croyance Automotive; Amit Lakhotia, Founder & CEO, Park+; and Rahul Bollini, Head-Emerging Technologies, JLNPhenix Energy.