With continued governmental help to the OEMs, the manufacturing of electrical automobiles (EVs) in India has ramped up lately as startups and distinguished automakers have been robustly electrifying their fleets. In an interplay with Financial Express, Nagesh Basavanhalli, Group CEO, Greaves Cotton defined how the business has overstepped the roadblocks and is on its method to meet the growing demand.
Speaking in regards to the present EV demand, Basavanhalli mentioned, “The demand has been strong lately, especially in the two- and three-wheeler segment, thanks to the convenience as the unit economics has been favourable,”
Discarding outdated inner combustion engine (ICE) automobiles alongside the formidable adoption of EVs are two determinants which have been faring effectively within the nation’s bid to realize its net-zero emissions goal.
Basavanhalli is optimistic that the share of EVs on Indian roads will proceed to rise. “The share of electric two- and three-wheelers, especially the two-wheeler in the last-mile mobility is going to amount to upto 25-30 percent of the total sales in the next 5 years.”
Explaining how the market has been shifting by way of EV adoption, he mentioned, “The industry has faced lack of awareness as a challenge, but it has improved in the last quarter. Range anxiety and awareness have improved relatively in the last quarter. With the government’s push and its favourable policies, the percentage of EVs on Indian roads is going to be higher in the coming years, although, the next 3-4 years are very critical for the industry”.
He mentioned on the Group degree, Greaves Cotton will have a look at develop the EV charging infrastructure. “The lack of EV charging infrastructure is a problem that the industry has been facing as a whole. We’re already working on fast-charging solutions and have also partnered Sun Mobility and Bounce Infinity to provide battery swapping solutions for our fleets,” shared Basavanhalli.
“Apart from the said collaborations, we are open to and are looking forward to more such partnered ventures in the near future. We are actively spending the raised investments in the development of our two- and three-wheeler products, technology enhancements, R&D and brand building while we also plan to enhance our manufacturing capabilities in the future.”
Mentioning about Greaves Cotton’s efficiency, Basavanhalli talked about that the corporate was worthwhile within the This autumn FY2022. The firm bought 62,000 EVs final fiscal, of which 25,000 models was bought in This autumn alone.
“In fact, electric mobility alone has amounted for 38% of the group’s overall revenue in Q4 FY2022,” he concluded.
Source: www.financialexpress.com”