As the whole country is anxious about the new guidelines by the government, which is the complete change over to electric vehicles by 2030 where the developed countries like France have even set the mark by 2040. It’s a big challenge for India though it has the potential to build from scratch and technology.
INDIAN AUTOMOTIVE INDUSTRY
In this chaos, let us discuss the state of the industry as to how it prepares itself for the transformation and the expectation from the players. We can envision many advantages with this transformation like cleaner air, reduced noise level and the import bills of oil.
The automobile industry will definitely transform to a new level with all these upgradations. Already many companies have big hope in the Indian market and launched their electric vehicles which is the starting point of the competition.
EXPECTATIONS
Kia Motors
Kia Motors announced that it is planning to launch a low-cost electric vehicle with Hyundai. Cost is a disturbing factor for the consumers as the country is not completely electrified for the vehicles. Hyundai Kona is released where the sales are very less because of its high cost.
Hyundai Kona
CHALLENGES
Automobile Industry also faces some dark side of the transformation such as job loss because of the automation and other new technology in the place of manpower. Around three lakh people are employed directly and indirectly by the industry, they all lost their jobs because of the expectation of EVs. They can change the industry upside down as there will not be such a high requirement of components like gears, fossil fuels.
The first EV that has introduced was a compact one but the cost is very high. Eventually, the public will not have a clear future of the new vehicle but the fear and suspicion still persist. The industry will face a big challenge in the service segment whereas the present market is completely dependent on the periodical servicing of the vehicle. Anyways, EVs do not require much maintenance and replacement of body parts. Hence, the manufacturers will price the EVs high and make the dealers take a cut.
FUTURE
In order to take this as a challenge from the government, many players have made some new steps for their successful launch of powerful EVs. India’s pioneer in the market, Reva founder Chetan Maini, is ready with the new venture called Sun Mobility to focus on building charging infrastructure. Subrata Roy’s Sahara Evols also claims to be launching the EV ecosystem for bikes, cars, e rickshaws.
Sun Mobility
The futuristic and rigid vehicle market has now seen a growth curve with the invasion of new startups. As there are evident setbacks in the industry the electric vehicles will create a challenging scenario in the market. But it can be successful only with the support and subsidy from the government. Rather than the dependence on the import of batteries, it is wise to have a home brand and other solutions for charging which can build the trust factor among the consumers in the future.
However, to conclude let us just wait and watch the future market ups and downs which is sure ready to make some interesting headlines in the global market as all the developed countries are struggling their own ways to build Electric vehicles.
