Speaking about Future Mobility & Battery Storage, Vipin Sondhi, Chairman, CII National Committee, stated that the Indian business can leverage and collaborate with South Korea’s battery experience. He stated it will assist develop the electrical car market in India and the nation can emerge as a pacesetter for a big a part of the world.
Sondhi was talking on the Korea-India EV Cooperation Forum, organised by the Korea Trade-Investment Promotion Agency (KOTRA) – a state-run commerce promotion arm of the South Korean authorities, with the help of CII and make investments India in New Delhi at the moment.
The occasion was attended by Chang Jae-Bok, Ambassador to India, the Embassy of the Republic of Korea, and prime officers from NITI Ayog, Hyundai Motor India, Indian Institute of Technology (IIT)-New Delhi, Hero Motors, Tata Power, Magenta Power, and Convergence Energy Services (CESL).
The Chairman stated, with a Comprehensive Economic Partnership Agreement (CEPA) in place, the 2 international locations can develop bilaterally in commerce. “The automobile industry of both countries can further technological tie-ups while being partners in handling changes that have become essential because of sustainability challenges.”
Chang Jae-Bok highlighted the institution of diplomatic relations in 1973 between South Korea and India, and the way each international locations have loved cordial relations. It has helped develop financial, cultural and political relations seamlessly. “Today’s Korea-India EV Cooperation Forum will greatly contribute to the economic cooperation between the two countries because the automobile industry is in the middle of a transition from ICE-vehicles to electric vehicles and it means a lot when we discuss together over new, green form of automotive at this historical transition.”
At current, South Korea is the eighth largest automotive market on the planet and the fourth largest EV exporter on the planet. The nation sells greater than 100,000 autos domestically and exports 120,000 autos yearly.
Source: www.financialexpress.com”