India, classified as a developing country, is again becoming the old golden bird. How?
With many sectors growing at an exponential rate. One such sector is electric vehicles. Companies across the world are focusing on the Indian market to expand their business in-country in the coming times. The Indian market is responding positively to the growing eco-system of electric vehicles.
Businesses in this sector have found the best time to enter and rule. Whereas companies like Tata Motors are already coming up with features like Ziptron technology to provide the best possible experience to the customers.
But, India being a developing country still has a lot to innovate and develop. As world leaders often say, this decade belongs to India. Moreover, this century belongs to India. There are a lot of opportunities for businesses in the electric vehicle sector in India. How do we manifest some of them?
Why are Electric Vehicles Required?
Well, we are aware of the greenhouse effect which directly leads to climate change is mainly due to motor vehicle gas emissions. Harmful gases such as carbon dioxide, and the greenhouse gases nitrous oxide and methane, and post-electric. Secondly, the oil is also going to be empty.
Therefore, EV is the only option left for easy transportation and saving the Environment. EVs have a lot of advantages such as being eco-friendly, highly efficient, cost-effective, low maintenance, smooth to drive, etc.
Is India Ready for Electric Vehicles?
We know the current situation in our country due to this pandemic has seriously harmed our economy. But amid the uncertainties because of the epidemic situation, there is still a ray of hope for electric vehicle manufacturers in boosting the growth of the EVS market.
But Indian electric vehicle revolution has come to halt due to the covid-19 lockdown. The mobility sector is a massive customer base for electric vehicle manufacturers that have been harmed heavily.
However, on the positive side, once lockdown is over, electric vehicle companies need to accelerate their business strategies as per the experts. One of the most renowned automobile biggies – ‘Porsche’ said that “the Development for the electric vehicle market in India has just started”.
Well, the situation in our country is a little different compared to other countries. Because the Indian auto industry was going through a tough phase before the crisis of this pandemic came. But times will change and that hope was given by Balbir Singh Dhillon, head of Audi India, who said that electric vehicles are already on their way, but the important thing is the market, and it is not a piece of cake, it takes some time to Adopt EVs Infrastructure.
The e-mobility infrastructure is essential too and requires governmental adequate support to import electric vehicles, resulting in a beneficiary move.
So it can be seen that being one of the top markets across the world all tech giants have been observing the Indian market and its current scenario. To promote EVs adoption in India Indian government has announced a new policy and initiative. this may help India to adopt an EV Environment quickly. “The intensity of impact will be much sharper in the electric vehicle segment” ~ Sohinder Gill, CEO, Hero electric
Companies to Enter in Indian EV Market
Tesla is focusing on building its factories around the world. They have already spent over 1 billion dollars in Austin, Texas, Brandenburg, and Germany for that and they have finally arrived in India. And many automobile giants have started to make their respective efforts.
surprisingly, the smartphone king apple is also going to kick off electric vehicle cars in the Automobile market. And not only big companies like Huawei, but Xiaomi are also in the race as per the reports and Samsung will provide chipsets and other electronic equipment like sensors to its partner.
So, the consumers will have several choices. And this will boost Business Opportunities in the Electric Vehicles industry for small-scale industries. Where this comes true is that India’s electric story continues to be dominated by light mobility post-covid-19. Several key points have to be considered post-electric vehicles market.
Business Opportunities in Electric Vehicles Sector India
Following is the list of business opportunities in the Indian EV Sector
Public EV charging Stations Battery recycling Business Battery swapping Technology solar electric vehicle charging Home charging stations EV Equipment Manufacturing EV Franchise and Dealership
Public EV Charging Stations
There is a need for conveniently accessible charging points for the charging infrastructure to support the Indian electric vehicle market.
Recently, A technical committee met in Hyderabad Post-electric to discuss existing building codes and government regulations to set up charging infrastructure in Telangana. Because of reliability on such high factors maintenance and repair become priority issues. As per reports, there are one million public charging points in the world and only 0.1% are in India. and this could be a great Business Opportunity to work in EVs Sector.
Battery Recycling Business
Well, batteries are engines in EVs. They emit less carbon dioxide but batteries are harder to recycle. Which is composed of cobalt, lithium, and nickel, and mining these raw materials raises ethical and environmental concerns.
Lithium-ion batteries are difficult to recycle. The “Global Battery Alliance” estimates that the battery could cut the carbon industry required by 30% and several aspects have been created by this.
Battery Swapping Technology
It will eliminate wait time for charging, make better use of land, and will give increased available run time in India, the population increases the travel needs both within between two cities so, this could be a better option. Battery Swapping technologies have good future scope over EV charging stations, are less time consuming, and for this, it could be a great business opportunity.
Solar Electric Vehicle Charging
Solar-based electric vehicles are just around the corner. Solar charging stations for EVS. The combination of charging stations and electric vehicle charging is the key to drastically reducing our dependence on fossil fuels.
Home Charging Stations
As per the survey, 60% of Indians do not have the vehicle to keep vehicles at home. Electric car drivers choose home charging points to benefit from the faster-charging speed and some safety features as well. So home charging stations are quite useful.
EV Equipment Manufacturing
Nowadays, after the U.S. and China conflict and this pandemic, many giant companies have started moving to India to manufacture their respective products. Union Minister Nitin Gadkari said that in the next six months, lithium-ion batteries will be manufactured in India and it will become the world’s largest EV manufacturer.
EV Franchise and Dealership
There are many EVS manufacturing companies in the country like Hero Electric, Tata Motors, Ather Energy, Ashok Leyland, Hyundai Kona Electric, etc. Tesla has also arrived; the demand will get higher & higher since it is automotive so the investments and policies and all that would be bigger but it will take some time to perfectly settle in India.
The electric vehicle industry has not done that much good due to the devastating hit of the covid outbreak. But it will take a huge jump in upcoming years. The EVs will be game-changing in terms of environment, air, noise pollution-free, post-electric, and much more.
