Page 23 - MMI_-- JulyAug2021 (single)

which as much as 80 percent of plant in Hosur at a cost of $330
it will be on lithium-ion batteries million. It aims to produce two
to a value of $14.9 billion. million units a year, and in
fact, by the next year, wants
India getting EV-ready to scale up production to
Various reports suggest that the 10 million vehicles a year or
only way for India’s EV market Source: Hexagon Manufacturing Intelligence, India 15 percent of the world’s total
is up. The southwestern state number of e-scooters.
of Kerala, for example, aims to The uptake has also been bol-
put one million EV units on the stered by Government initia-
road by 2022 and 6,000 e-bus- tives such as the Faster Adoption
es in public transport by 2025. and Manufacturing of (Hybrid
Meanwhile, the southern state cles (SMEV) indicate that 2021 &) Electric vehicles (FAME), and
of Telangana aims to have EV EV sales in India is down by 20 more players are joining the
sales achieve 80 percent for percent, this has been attributed market mix.
two- and three-wheelers such largely to the pandemic. What will it take then to tru-
as motorcycles, scooters and Still, the momentum is growing. ly electrify this segment and
auto-rickshaws; 70 percent In February 2021, Ather Energy, charge it to the next level? How India offers
commercial cars which include India’s first intelligent EV manu- can all stakeholders – be it man- the world’s
biggest
ride-hailing companies such as facturer, moved its $86.5 million ufacturers or engineers, inves- untapped
Ola and Uber; 40 percent bus- factory from Bengaluru to Hosur. tors or sellers – come together prospects
es; 30 percent private cars; and Ather Energy’s factory is said to to make EVs the future? for EVs
an overall 15 percent electri- have an annual production ca- with a mar-
fication of all vehicles by this pacity of over 1,00,000 electric Putting the EV puzzle ket valued
at $5
same period. Experiments with two-wheelers, up from its previ- together billion. This
e-mobility for public transport ous capacity of 25,000. To be sure, there are concerns is expected
have also led to the deployment Furthermore, Ola Electric, the about safety, security, and to reach
of electric intercity buses across subsidiary of Indian ride-hailing sustainability. Many well- $47 billion
several other major cities. start-up, Ola, also announced documented barriers to EV by 2026,
registering
While data from the Society of that it would be setting up the adoption remain, ranging from a CAGR of
Manufacturers of Electric Vehi- world’s largest electric scooter technology cost to infrastructure above 44
percent
between
2020-2027
with the
annual
sales
expected to
reach 6.34
million
units.

Source: Hexagon Manufacturing Intelligence, India

July-August 2021 | 23
www.mmindia.co.in