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COVER STORY

ELECTRIC VEHICLES:

SEEING THE BIG PICTURE

Powering the electric vehicle segment will need concerted effort from all stake-
holders to make it truly safe, secure and sustainable.

Source: Magic Wand Media

here is no denying the Ford – leaving no company out is indeed growing, and it is no
T power of an electric of the race towards electric ve- exception in India.

As the world’s second most pop-
vehicle as it zaps its
hicles (EVs).
way through the traditional Tesla, possibly now the world’s ulous place on earth, with a do-
Automotive industry, changing most valuable and talked-about mestic consumer market that
SRIDHAR our perceptions of what a car company, saw sales of its first dwarfs all nations, India offers
DHARMARAJAN should be, and revive how we plug-in EV, the 2013 Model S, the world’s biggest untapped
Executive Vice
President & Managing get from point A to point B. soar from 2,500 units in 2014 to prospects for EVs with a mar-
Director Amidst the global conversa- over 10,000 in 2015. And in 2020, ket valued at $5 billion. This is
Hexagon Manufacturing
Intelligence, India tion about our carbon footprint it delivered over 5,00,000 of its expected to reach $47 billion
sridhar.dharmarajan@ and dangerous emissions, the vehicles, translating to 16 per- by 2026, registering a CAGR
hexagon.com
black smoke belching vehi- cent of the global market share of above 44 percent between
cles of the past are long due a and becoming the world’s largest 2020-2027 with the annual sales
massive overhaul. To be sure, provider of fully electric plug-in expected to reach 6.34 million
every major automotive play- light vehicles. units. In parallel, the annual de-
er is coming on board – from Tesla’s meteoric success further mand for batteries is expected to
BMW to Nissan, Mercedes to proves that the hunger for EVs grow by 32 percent by 2027, of

22 | July-August 2021 Modern Manufacturing India