Electrification of the automobile industry is no longer the future, it is the present. Consumers have begun choosing EVs as one of their next new vehicle and on this World EV Day, all players in the EV ecosystem are embracing the change.
♦ Rajat Verma, Founder & CEO, Lohum, said “This World EV Day, we at Lohum applaud the Government of India for introducing legislative clarity early, admire the EV ecosystem for unforeseen levels of innovation, and are inspired by consumers for being fast adopters, tolerating uncertainties in the interest of a clean and green Earth. India can look forward to a decade of transformative impact powered by breakthroughs in EV sector technology, scale, and circularity. By pioneering solutions that turn EV battery and critical material waste into virtually infinite value, we pace toward a future that makes full use of its resources and takes accountability for our planet.”
♦ Vinod Aggarwal, President of SIAM & MD & CEO VE Commercial Vehicles, said, “As a 15-year joint venture between Volvo Group and Eicher Motors, VE Commercial Vehicles (VECV) has a track record of bringing modern and sustainable transportation solutions to customers through the Eicher and Volvo brands in India. Today, our electric trucks and buses are in operation with progressive customers in specific applications, and we have advanced plans for Electrics, Hydrogen Fuel Cell, Hydrogen ICE, Bio blends and CNG. As charging infrastructure improves and green energy becomes widely available, we forecast rapid adoption of our electric and clean technology vehicles by customers.
Sustainability is also about efficient asset utilisation. All Eicher and Volvo trucks and buses, electric or otherwise powered, are backed by a 100 per cent connected ecosystem with AI-based diagnostics to further deliver on our promise of Productivity and Uptime for our customers. As a leading player in the Commercial Vehicles Industry, VECV is committed to drive Decarbonisation and Sustainability.”
♦ Commenting on the current EV landscape in India, Sunjay Kapur, President, ACMA & Chairman, Sona Comstar, said, “Electrification will shape the future of mobility, and the world is increasingly adapting to this trend. India is poised to become the hub of manufacturing excellence for electric vehicles with the right investments in technology, focus on innovation, robust infrastructure, and consistent government support with policies like PLI and FAME. With a deeper focus on localisation of advanced technologies, vehicle electrification will continue to rise in India, driven by cost economies.
In FY23, EVs accounted for 2.7 per cent of the Auto Components Industry’s overall turnover, which is up from 1 per cent in FY22. We’ve made significant strides in supplying components for electric vehicles with greater investment in technology. India is truly moving in the right direction, and we look forward to zero emissions and net reductions in carbon footprint with EVs.”
♦ Sohinder Gill, Director General, SMEV and CEO, Hero Electric, said, “Electric Vehicle Day serves as a poignant reminder of our collective responsibility to nurture our planet and catalyse positive change. In today’s global context, Electric Vehicles stand as pivotal instruments in forging a sustainable future marked by eco-friendly transportation and enhanced accessibility.
This occasion prompts us to scrutinise our contemporary choices, recognising their profound influence on the world we give to future generations. Electric Vehicle Day underscores the pressing need to curtail carbon emissions and enhance our environmental well-being. At Hero Electric, our unwavering commitment remains: to empower India with advanced, environmentally responsible solutions and motivate communities to make informed decisions that align with their aspirations. Let us take the EV day as a day that redefines the trajectory of sustainable mobility’s future.”
Electric Four-wheeler Manufacturers
♦ Jyoti Malhotra, Managing Director, Volvo Car India, said “The road to a sustainable future is undoubtedly electric, and at Volvo Car India, we are committed towards it. We are committed to be an all-electric car company by 2030, leading the charge for cleaner, greener mobility. We have already introduced two Fully electric cars XC40 Recharge and C40 Recharge in India, both of which are assembled in India and we intend to add more cars in coming years. The success of these EVs has given us encouragement to continue on this path. Our dedication to sustainable mobility doesn’t stop there; it extends to how we design our cars, how we produce our cars and how we sell & service them. We prioritise use of recyclable materials to reduce our environmental footprint – C40 has leather-free interiors. Moreover, we are encouraging our dealers to adopt more green practices. Together, we’re paving the way for a brighter, more sustainable tomorrow.”
♦ Gaurav Gupta, Deputy Managing Director, MG Motor India, said, “World EV Day marks significance in driving the EV transformation in India. As one of the pioneers, we have laid the foundation of creating a strong EV ecosystem and have been aggressively working towards strengthening the same. Under the MG Charge program, we are cohesively working to develop a 6-way charging solution that includes a free-of-cost AC fast-charger (installed at the customer’s home/office), an extended charging network, a plug-and-charge cable onboard, charge-on-the-go, and community chargers. Till date, we have set up over 12000 charging touchpoints including home and public chargers across the country.
MG Motor India remains committed to realising the vision of making India the EV hub of the world. We are committed to supporting the government’s Electrification vision, Our sales from the EV portfolio have been between 25-30 per cent since July this year. Our ZS EV, India’s first pure-electric internet EV SUV has saved the total CO2 amounting to a staggering 3Cr Kilograms in the nearly 24 Cr. Kilometres. We have received a phenomenal response of over 15,000 units of ZSEV and Comet EV sold cumulatively till date.”
♦ Sanjay Gopalakrishnan, Senior Vice President of Electric Passenger Vehicle Business at BYD India, said, “Today, as we mark World EV Day, we are celebrating a sustainable future in motion and charging ahead into an electrified era. Let’s embrace the power of electric vehicles to drive positive change for our planet and future generations. With the launch of our #GoGreenWithBYD campaign, we aim to inspire every individual to embrace sustainable lifestyles and contribute to a cleaner, greener future for all.”
♦ Siddhartha Bagri, CEO of Pravaig, said “Emobility ushers in the age of digital drivetrains, upon which various services can seamlessly operate. This synergy elevates cars beyond their traditional role, surpassing the combined significance of vehicles and living spaces. In this transformative journey, ensuring consumer ownership and control takes center stage, along with safeguarding our rights to our data and property.”
Electric Two-wheeler Manufacturers
♦ Naveen Munjal, Managing Director, Hero Electric, said, “Electric Vehicle Day is a timely reminder for each of us to reassert our commitment to accelerating the transition from internal combustion engines (ICE) to electric vehicles (EVs). The urgency of this transition is underscored by our climate commitments and national objectives.
Hero Electric, with its mission of no emission, has consciously led the charge, providing substantial momentum to the prospering Indian electric vehicle industry. It is essential that we prioritise the timely fulfilment of our commitments to ensure the delivery of a cleaner planet to the generations that follow.”
♦ Sanjay Behl, CEO and Executive Director, Greaves Electric Mobility, said “Celebrating World EV Day, Greaves stands tall as a pioneer in reshaping the landscape of sustainable, clean technology and eco-friendly mobility systems in India. Our unwavering dedication to innovation, coupled with our vision to make affordable, last-mile clean technology personal mobility universally accessible, has propelled us to the forefront of the electric vehicle evolution. This journey is steering us closer to a net-zero emissions future on planet Earth by 2070. With over 2 Lakh happy customers and over a billion electric miles logged-in, we are propelling the creation of an all-encompassing EV ecosystem, catalysing electric vehicle adoption nationwide and beyond. The road ahead promises reduced emissions, energy efficiency, and a renewed urban landscape, driving us towards a greener and more sustainable tomorrow.”
♦ Jeetender Sharma, Managing Director and Founder of Okinawa Autotech, said, “Okinawa was started with a vision to accelerate India’s transition to sustainable mobility, and we are extremely satisfied with our astounding achievements in a short span of time. However, we are not stopping here. We have ambitious plans to expand our operations and consumer base in different parts of the country and help people embrace electric mobility in order to create a sustainable future. We have been a consumer-first company and are committed to serving the people of India with products equipped with the latest technology and promote sustainability.”
♦ Yatin Gupte, Chairman and Managing Director, Wardwizard Innovations & Mobility, said, “On this World EV Day, we rally every citizen to unite in the global crusade against excessive carbon emissions and wholeheartedly embrace electric vehicles (EVs) for their everyday transportation needs. EVs stand as the epitome of sustainable mobility, and the remarkable surge in households adopting EVs has catapulted the Indian EV segment forward in recent years.
At Wardwizard Innovations & Mobility, our journey towards electrification and decarbonisation commenced in 2016. Since then, we have ascended to the forefront of the EV industry, delighting over 75,000 customers across 50+ cities with our flagship brand, Joy E-Bike. The years 2018 to 2020 laid the foundation for our journey, marked by the introduction of our low-speed and high-speed vehicles. In January 2021, we inaugurated a state-of-the-art manufacturing facility in Vadodara, Gujarat, fortifying our ‘Make-in-India’ ethos and channelling investments into cutting-edge R&D. Notably, in 2023, we proudly introduced the first ‘Made-in-India’ EV two-wheeler, Mihos, and ventured into the three-wheeler market with Joy e-rik.
“As we march forward, Wardwizard envisions a future where innovation and sustainability propel us towards unparalleled heights in the EV industry, ensuring a greener, more promising tomorrow.”
♦ Ketan Mehta, Co-founder & CEO, HOP Electric Mobility, said “Global climate concerns have been driving nations toward sustainability. India’s pledge for carbon neutrality by 2070 spurs interest in New Energy Vehicles (NEVs) like, Hydrogen Fuel Cells, Electric Vehicles (EVs), among other options. ‘Auto Expo 2023’ earlier showcased a futuristic emphasis among OEMs on Green Energy-powered vehicles.
Electric Vehicles’ adoption has been gaining traction due to their lower carbon footprint and cost-efficiency. In the first half of CY-2023, the segment has experienced consistent sales, surpassing the 100,000-unit mark each month according to government estimates. Efforts are also underway to establish a nationwide charging network by the government and companies collaboratively. E.g. we are expanding our ‘HOP Infinity Energy Network’, which we piloted in Rajasthan, now rolling out to other states.
Affordability is key for increasing access to EVs; Battery-as-a-Service is an option, keeping in mind its high upfront cost, separating battery costs from vehicle prices to sweeten the deal. Easy financing is also crucial. We at HOP Electric prioritise financial accessibility with financing at our ‘HOP Experience Centres’ and a PAY AS YOU GO system, aiming to provide quality products at reasonable prices. Our commitment to de-carbonisation is aimed at reducing greenhouse gas emissions in mobility.”
♦ Chakravarthy C, Managing Director, Quantum Energy, said “World EV Day marks a significant milestone, celebrating the rapid growth of electric vehicles while emphasizing our collective dedication to a more sustainable tomorrow. As someone with expertise in the field, I find inspiration in the global surge of electric vehicles, their pivotal role in reducing carbon emissions, combating climate change, and transforming transportation. The growing recognition of the myriad benefits EVs offer is driving unprecedented demand. Yet, World EV Day isn’t just about acknowledging past accomplishments; it’s a clarion call to action. It urges us to continue investing in clean energy, expanding charging infrastructure, and accelerating global EV adoption. It’s only when we work together, we can write a brighter, cleaner chapter in the history of transportation”
♦ Rohit Vadera, CEO, Pure EV, said “EV adoption is inevitable to achieve a cleaner and safer environment, and indeed for the economic sustainability of the country by significantly reducing our import bill on Oil. The government has been making continuous efforts through policy and promotion to support EV adoption.
However, to achieve our zero emissions target, we at individual and organisational levels must embrace sustainability. There is a need to generate awareness among the communities and individual customers. This approach should be applied while maintaining affordability so that it is easier for consumers to switch to a greener future.”
♦ Atul Gupta, Co-founder & Director of e-Sprinto, said “World EV Day shines a spotlight on the electrifying revolution that is reshaping our means of transportation. In the field of electric two-wheelers, it’s the young startups that are propelling this greener tomorrow. With innovation as their compass and determination as their fuel, these startups are rewriting the rules of transportation. They’re introducing sleek, efficient, and eco-conscious EVs that challenge the status quo, proving that sustainability can coexist with style and performance. These startups are not just driving change; they’re igniting a spark of enthusiasm among the younger generation.”
♦ Dinesh Arjun, CEO and Co-founder, Raptee Energy, said, “Electric vehicles (EVs) are significant for their potential to reduce emissions, improve air quality, and create jobs. EVs can also help to reduce dependence on foreign oil and improve energy security. The future of EVs is bright, and with the right policies and incentives in place, they can have a major impact on the world’s economy and environment.”
Electric Commercial Vehicle Manufacturers
♦ Dev Arora, Co-founder and CEO of Alt Mobility, states, “World EV Day serves as a reminder of our commitment to reducing carbon emissions, improving air quality, and mitigating climate change. Through innovation, collaboration, and investment in charging infrastructure, we are working tirelessly to accelerate the widespread adoption of electric vehicles. As advocates for clean and E-mobility solutions, we believe in the power of electric vehicles to transform our cities and pave the way for a greener future.
Commercial fleets will be the fastest to switch to 100 per cent electric in India and globally, due to superior TCO and economics. In less than 16 months of operation, Alt Mobility has already deployed a fleet of over 5,000 vehicles across 8 Indian cities, managing assets worth Rs. 75 crore and offsetting more than 20 million kilogram of carbon emissions. Looking forward, the company aims to triple its impact in the current financial year and manage assets worth over Rs. 300 crore. On this World EV Day, let us embrace the electrification revolution and inspire others to join the movement towards a cleaner, greener, and more sustainable transportation system. Alt Mobility reaffirms its dedication to driving progress, enhancing accessibility, and nurturing a world where electric vehicles are the norm.”
♦ Anirudh Bhuwalka, CEO of Blue Energy Motors, said “As we celebrate World EV Day, let’s acknowledge that building a sustainable future is a marathon, not a sprint. At Blue Energy Motors, we are focused on transforming the transportation industry in a sustainable and financially viable way. We’re engineering solutions that prioritise not just environmental well-being but also offer compelling economic advantages. Looking ahead, our goal is to introduce zero-emission EV trucks by 2024. This vision aligns perfectly with India’s ambitious energy goals and represents an unparalleled growth opportunity. Together, let’s take the wheel, in steering our planet and economy toward a greener, better future.”
♦ Sushant Jena, CEO, Montra Electric, said “Today, on the occasion of World EV Day, we reaffirm our commitment to usher in transformation in mobility through clean mobility solutions. Last year, Montra Electric commenced the journey with a resolute vision – improving quality of life through eco-friendly mobility solutions. We are firmly dedicated to take our vision forward through products driven by deep consumer understanding and an enabling atmosphere that promotes the growth of electric vehicles. On this day, let’s pledge to come together to advocate for sustainability, electrify India, and navigate towards a cleaner and more sustainable future for generations to come.”
♦ Uday Narang, Founder and Chairman, Omega Seiki Mobility, said “Our company was born out of a deep concern for the environment, a concern ignited by witnessing the alarming levels of pollution that engulfed our cities. It was a turning point that inspired us to make a difference. Today, on World EV Day, it feels like Independence Day for all of us in the EV industry. Just as a nation celebrates its freedom, we celebrate the freedom from fossil fuels, from pollution, and from the limitations of traditional transportation. With every electric vehicle we produce, we are contributing to a cleaner, more sustainable future, and today, we stand together with fellow EV players to commemorate our shared commitment to this transformative journey.
From our inception, driven by the urgency of combatting pollution, we’ve come a long way. As we stand on the cusp of unveiling our latest innovation, an Electric three-wheeler capable of carrying a remarkable 1,000 kg payload on a single E3V, we are thrilled to announce that over 8,000 Omega Seiki Mobility vehicles are now on the streets of India. It’s a testament to our unwavering commitment to sustainable transportation and our relentless pursuit of excellence. In just two short years, we’ve disrupted the market, securing a remarkable 3rd place in the industry.”
♦ Saurav Kumar, Founder and CEO, Euler Motors, said “This World EV Day holds special significance as India takes center stage on the global platform by hosting the prestigious G20 Summit. Simultaneously, the country is making significant strides towards achieving the milestone of selling one million electric vehicles this calendar year across various segments. The sustained and robust demand for electric vehicles, particularly in the rapidly growing three-wheeler cargo and passenger segment, stands as a testament to the success and widespread acceptance of EVs in the country. Both institutional and retail customers in the commercial segment have recognised the benefits of electric vehicles, including increased profitability and a seamless driving experience.
Going forward, our primary focus should be to meet the burgeoning market demand by scaling up production and bringing high-performance and powerful EVs that can easily compete with or even surpass traditional ICE vehicles. In addition, the industry should also prioritise making electric vehicle financing more accessible while continuing to enhance the charging and service infrastructure. With the current momentum in the EV revolution, India possesses the potential to lead the global transformation towards the future of mobility.”
♦ Namit Jain, Founder and CEO of ZEN Mobility, said “On World EV Day, we are delighted to commemorate the electrifying transformation of the last-mile delivery sector. As a last-mile delivery provider, our commitment is to reduce our environmental impact while optimising our operations. We appreciate the existing government policies and incentives that support LEV adoption in India and believe there are numerous prospects that can be considered to foster growth in the LEV, last-mile delivery, and commercial vehicle sectors. In addition to promoting awareness through campaigns and training that emphasize reduced emissions and enhanced cost-effectiveness, we advocate for the enhancement of quality and safety standards, coupled with strict enforcement of regulatory compliance. Furthermore, we encourage innovation, research, and collaboration to advance these segments. Together, we aim to shape a more sustainable and efficient future for last-mile delivery and urban mobility.”
Electric Fleet Operators
♦ Anmol Singh Jaggi, Co-founder and CEO, BluSmart, said “For Electric Vehicles to be a success in India, we need to bring together the entire ecosystem. This approach includes not just ensuring the availability of EVs but also creating a network of charging infrastructure thereby making it more accessible to the larger public. BluSmart has been a pioneer in transforming how Urban Indians experience sustainable mobility. We have been able to do this by being laser focused on our customer service by upholding our zero surge, zero cancellation and zero tailpipe emissions promise. As the fastest-growing charging infrastructure operator, we are leading the charge to shape India’s EV future.”
♦ Mayank Bindal, Founder & CEO, Snap E Cabs, said “In most other companies helping the planet by adopting sustainable practices is undertaken by the CSR wing; While the intent is strong, sometimes execution falters as the goals fail to percolate across the company in a consistent way. However, at Snap-E it would be fair to say that the entire company has imbibed the CSR ethos; We believe that solving some of the most pressing transportation problems for our customers in a profitable way & leading the way to help adopt sustainable practices and helping the planet are not 2 different goals: there are one and the same”
EV Component Manufacturer
♦ Ravi Mehra, Deputy Managing Director, Uno Minda, said “World EV Day is a momentous occasion that celebrates the transformation and innovation towards clean and sustainable mobility. Uno Minda has been at the forefront of the electrification trend, recognising it as an opportunity not only for business growth but also for our commitment towards the sustainability goals of our nation and making the world a better place to live. In line with India’s vision for an EV-driven nation, Uno Minda’s forward-thinking approach has enabled us to build one of the most comprehensive EV-specific components portfolio for electric two and three wheelers right at the beginning of this mobility transformation curve. Going forward, we are committed to developing products for electrification of passenger cars and vehicles in other segments as well. On this EV day celebration, we come together in unity to accelerate the transformation towards electrified and clean energy mobility– one that promises cleaner air, reduced dependence on fossil fuels, and ultimately creates a greener world for generations to come.”
♦ Vivek Vikram Singh, MD & Group CEO, Sona Comstar, said “The worldwide shift towards electric vehicles (EVs) has gained substantial momentum, driving us towards a more sustainable future in mobility. Globally, there has been a concerted effort to accelerate the development of an electrified ecosystem, with the overarching goal of reducing carbon emissions across the entire value chain.
At Sona Comstar, our strategic focus on leading the charge in the electrification of mobility worldwide has prompted us to proactively invest in research and development. Consequently, we have created a diverse product portfolio encompassing various types of electrified powertrains, allowing us to effectively meet the escalating demands of global EV original equipment manufacturers and adapt to the evolving industry landscape. This led to the rise in our battery electric vehicles revenue share to 26 per cent, with a 33 per cent growth in absolute revenue, reaching Rs. 6.7 billion in the last fiscal.”
♦ Khalid Wani, Senior Director – Sales, India, Western Digital, said “On World EV Day 2023, we proudly stand alongside the global community in propelling the shift toward a sustainable electric future. The Indian Electric Vehicle (EV) industry is experiencing remarkable growth, driven by its eco-friendly appeal and government regulations targeting emissions reductions by 2030. Electric vehicles have evolved into feature-rich, battery-powered marvels, equipped with cutting-edge technologies and software capabilities, from navigation to infotainment and advanced safety diagnostics. In essence, today’s EVs have the potential to incorporate functionalities akin to autonomous vehicles (AVs). Consequently, as the EV industry flourishes, data storage innovation must evolve in tandem with the sector’s escalating data requirements.
Presently, India holds the position of the fifth-largest global automotive market, encompassing both Internal Combustion Engines (ICE) and electric vehicles, with projections indicating a rise to the third-largest market by 2030. This underscores the growing significance of data and data storage, especially with the proliferation of connected and electric cars. To continue serving the evolving needs of the automotive industry, the storage sector must remain dedicated to innovation and advancement, ensuring it meets the surging demand for data-driven solutions.”
♦ Rajat Verma, Founder & CEO, Lohum, said “This World EV Day, we at Lohum applaud the Government of India for introducing legislative clarity early, admire the EV ecosystem for unforeseen levels of innovation, and are inspired by consumers for being fast adopters, tolerating uncertainties in the interest of a clean and green Earth. India can look forward to a decade of transformative impact powered by breakthroughs in EV sector technology, scale, and circularity. By pioneering solutions that turn EV battery and critical material waste into virtually infinite value, we pace toward a future that makes full use of its resources and takes accountability for our planet.
EV Charging Infrastructure
♦ Akshit Bansal, Founder & CEO of Statiq, said “Electric vehicles (EVs) are leading the way in our fight against climate change, guiding us toward a more sustainable future. When we choose EVs, we aren’t just reducing pollution and addressing climate change; we’re also embracing practical sustainability. India is actively championing the production of domestic electric vehicles. However, to truly propel this revolution, we must ensure seamless connectivity – and this is where EV charging stations play a crucial role. More charging stations mean increased convenience for consumers. No longer will there be concerns about running out of power during journeys. With readily available charging points, we will be able to empower people to make the switch to EVs, accelerating the transition toward a cleaner and more sustainable future.
At Statiq, we are deeply enthusiastic about being part of this movement. We are tapping into local knowledge and resources to fulfill our mission: establishing an easily accessible, highly dependable, and cost-effective charging network for everyone. Our dedication extends to accommodating all types of EVs, whether they are 2, 3, or 4-wheelers, as evident from our deployment of 7000 chargers across India. Our goal is to reach 20,000 EV charging stations by 2024.
Moreover, the G20 Summit serves as a global platform for leaders and industry players to unite in driving this transformation. It offers an opportunity to rally for cleaner air, lower emissions, and a healthier planet. By setting ambitious goals for EV adoption and investing in research and development, we can lay the foundation for a sustainable automotive industry.”
♦ Lalit Singh, Chief Executive Officer (CEO) of TelioEV, said “To hasten the adoption of electric vehicles in India, effective management of EV charging systems is essential. Just as a well-conducted orchestra creates beautiful music, a well-coordinated network of charging infrastructure orchestrates the harmonious transition to electric mobility. We can connect with consumers and stakeholders like Charging station owners etc on the proper level and allay range concerns by making charging stations accessible, affordable, and reliable. Additionally, energy use can be optimised via intelligent charging solution management systems, which ease the strain on the grid and encourage sustainability. Let us keep in mind that well-managed charging infrastructure is the conductor of this transformative symphony, directing us towards a brighter, electric future as India seeks cleaner, greener transportation.”
♦ Dr Prabhjot Kaur, Co founder at Esmito, said “Electrification is the present and future of transportation. The fuel may be different- NMC, LFP, sodium, glass or hydrogen, but we are going to see EVs around us at much faster pace than envisaged. Be it a cycle or a truck, electrification is revolutionising our mobility segment. We are very thrilled to be a part of this wonderful transition to a cleaner and greener fuel-enabled EVs and look forward to contributing to the best of our capabilities in making this globe a better place to live for our future generations. In developing countries like India where we have majority of vehicles being 2W and 3W, we need more innovative and technology-enabled solutions to cater to the rising adoption of EVs. This segment is very unique for our country and nations alike and we are committed to continuing our journey towards making greener fuel a faster reality.
EV Financing Players
♦ Sameer Aggarwal, Founder and CEO at Revfin Services, said “With the world shifting towards sustainable transportation, EVs are no longer the future; they are the present. We’re dedicated to removing barriers to EV adoption, providing flexible and affordable financing solutions to make electric vehicles accessible to all. Our partnership with individuals, businesses, and the government is powering the transition towards cleaner and greener mobility options. On this special day, we celebrate not just the technology but the people and communities coming together to create a sustainable tomorrow. At Revfin, we believe that the road ahead is electric, and we’re driving change, one EV at a time.”
♦ Namit Jain, Co-founder & CEO, Rupyy, said “As we commemorate World EV Day, we’re reminded that we stand at a pivotal juncture akin to the early days of the internet—globally symbolised by Tesla’s transformative impact and Europe’s robust green policies. In India, the two-wheel electric vehicle sector has exhibited a robust growth of 60 per cent in H1CY23, capturing a 7 per cent market share from just 1 per cent two years prior. While challenges persist—ranging from high initial costs to infrastructural gaps—the landscape is ripe for disruption. One such avenue is the evolving fintech sector, which is playing an increasingly significant role in EV adoption by streamlining financing options. From a 30-40 per cent surge in EV financing penetration in recent months, fintech innovations are effectively democratising access to electric mobility. Supported by government initiatives, technological breakthroughs, and financial ingenuity, we are confident that India is steering towards a sustainable and electrified future.”
Other EV Players
♦ Rajesh Gupta, Founder & Director, RecycleKaro India, said “World EV Day is an opportunity to shed light on crucial industry issues. Foremost among these is the urgent need for a robust lithium-ion battery recycling infrastructure. With the rapid expansion of the EV market, we must establish an efficient system to manage the growing number of end-of-life batteries. Equally vital is sustainable materials sourcing to address the environmental impact of mining raw lithium-ion battery materials like Lithium, Cobalt, Nickel and Manganese. We must prioritise sustainable sourcing and recycling.
Extending lithium-ion battery lifespan through initiatives like energy storage repurposing is pivotal. We advocate for clear regulatory standards to ensure safety, environmental responsibility, and efficient material recovery in recycling.
Looking ahead, we eagerly anticipate recycling innovations, including advanced extraction methods and material recovery techniques. The concept of a circular economy, reusing and recycling lithium, Cobalt and Nickel metals, will continue gaining momentum. Collaborative efforts between automakers, recyclers, and governments are vital for effective recycling ecosystems. Educating businesses about lithium-ion battery recycling‘s significance in a sustainable future is crucial. Our industry looks forward to emerging technologies like solid-state lithium-ion battery recycling and their potential impact.”
♦ Aman Singh, Co-founder and Head of Analytics, Intangles, said “The electric vehicle landscape is currently experiencing robust growth, particularly in the passenger vehicle and two-wheeler segments. Advancements in battery technology, motor efficiency, and drivetrain configurations are enhancing the practicality of EVs. Luxury EV models now offer impressive ranges of approximately 800-850 km and boast rapid charging capabilities. However, the adoption of EVs in the commercial vehicle sector encounters challenges due to limitations in range, high battery pack costs, and lengthy charging times. Despite proactive government incentives and collaborative initiatives to expand charging infrastructure, the adoption of EVs in heavy-duty trucks faces obstacles. Overcoming challenges such as battery cooling, range concerns, and efficient charging solutions is crucial for the advancement of commercial EV fleets. Access to real-time performance data and well-developed charging networks are pivotal for the successful integration of EVs into commercial fleets, with a continued focus on minimizing energy costs from the grid remaining a key priority.”
♦ Sunil Gupta, COO of Aluminium Business, Vedanta, said, “Electric vehicles will play a pivotal role in steering the global mobility landscape towards a more sustainable future. Within the automotive sector in particular, the scope of applications for aluminium, often heralded as a ‘green’ metal, is rapidly expanding. This is driven by its ability to provide the safest, most environmentally friendly and cost-effective way of enhancing vehicular performance, including through battery protection, enhanced fuel efficiency, and lower emissions. The metal’s high strength-to-weight ratio, corrosion resistance, remarkable design versatility, superior thermal and electrical conductivity, and the capacity for 100 per cent recycling, makes it key to the success of lightweighting and battery technology.
We host India’s largest fleet of electric lithium-ion forklifts, with a total of 44 units now deployed across our operations in Odisha and Chhattisgarh. We also aim to decarbonise 100 per cent of our Light Motor Vehicle fleet by 2030, and 75 per cent of our mining fleet by 2035.”
♦ Sandiip Bhammer, Founder & Co-managing Partner, Green Frontier Capital, said, “For India to truly embrace EVs, we must catalyse a nationwide “charging revolution”. It’s not merely about rolling out electric cars; it’s the backbone of power behind them which truly counts. The heart of our modern mobility lies in every strategically placed charging station and every innovative solution we bring to the table. We envision a landscape wherein electric chargers are as commonplace as our current petrol pumps, seamlessly integrated into the rhythm of daily life. It’s a dance of technology and infrastructure, harmony between innovation and tradition. An electrified road is no longer a distant dream, but a reality we must confront. This is the future India not only needs but rightfully deserves.
♦ Gaurav Aggarwal Founder and CEO at CarLelo, said “Keeping the larger goals in mind, the government of India has put in a positive and aggressive framework to promote electric vehicles for the population at large. More importantly, consumers are beginning to consider EVs as one of their next new car purchases. This transformation is driven by factors like concerns for the environment, government support, advanced battery technology, and widespread charging infrastructure. Today, consumers, particularly the younger generation, perceive EVs as practical, eco-friendly, and forward-thinking options. With the government’s commitment, increasing sales figures, and intense competition in the auto industry, EVs are leading the charge towards a cleaner, greener, and more sustainable future in India.”
Rajat Verma already recovers raw materials from used cells at his venture, Lohum Cleantech. He wants to close the loop by making cells in India as well.
In an interaction with AutoStory, Rajat Verma, Founder and CEO of Lohum Cleantech, speaks about building his company, and about battery manufacturing and repurposing as an industry.
Business World Disrupt
Recognized as ‘The Most Innovative Company of the year 2022’ by The Confederation of Indian Industry (CII), Lohum is a producer of sustainable Li-ion battery raw materials