+
Entry of more players to help break barriers in EV
ECONOMY & POLICY

Entry of more players to help break barriers in EV

The entry of more players in the EV segment will help in breaking barriers and accelerate adoption of electric mobility in the Indian market, according to leading automobile manufacturers. More product introductions will help in catering to diverse customer needs with competition leading to expansion of the market, they noted. 

The announcements by passenger vehicle market leader Maruti Suzuki India with its e VITARA and Hyundai Motor India's Creta Electric will help change the negative narrative regarding EVs in India and a unified voice from the Indian automotive industry across players and segments will help in better transformation and acceleration towards electric adoption, top executives of different automakers said. 

"The general narrative on EV (earlier) was a bit more on the negative side, with a lot of question marks. Today, with all Original Equipment Manufacturers now having a credible EV portfolio, and they're all wanting to sell, I think the narrative on EVs will change, and the real benefits of owning an EV will be uniform now," Mercedes-Benz India Managing Director and CEO Santosh Iyer told PTI. 

Stating that the confusion which was there till last year "would now ideally reduce", he said, "I think a unified voice from the Indian automotive industry across players and segments will help for a better transformation, or acceleration towards electric adoption." 

Expressing similar views, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, Managing Director Shailesh Chandra said, "When all the manufacturers come in, there's no doubt that if all the OEMs are going for electric vehicle, possibly now they (customers) feel confident that this is possibly the technology of the future and is not only backed by one manufacturer and that should boost the confidence. That boost of confidence should expand the market." 

On the increased competition, he said, "That competition is a good thing because, as it is going to expand the market." 

Chandra said for the last one year EVs were under stress because "globally everybody was talking about electric vehicles in a very negative way, gloom and doom scenario". 

"Therefore, as a consumer, you will get confused whether this is the right time, or even whether I should even consider buying an electric vehicle," he noted. 

With the new launches, he said there will be collective noise around launches, and if multiple people are talking about electric vehicles, this will give a lot of boost and awareness for the consumers, which should expand the market. There will be collective work on the ecosystem. 

BYD India Head of Electric Passenger Vehicles (EPV) Business Rajeev Chauhan said, "Looking at it, our sense is that with the entry of the largest manufacturer of India (Maruti), with the entry of the highest selling car in the SUV segment (Creta) getting an electric version, the number three player (Tata Motors), increasing their portfolio in this bracket, so this (EV segment) is bound to grow very, very quick." 

He said from about 2.5 per cent penetration level of EVs in the passenger vehicle segment, it can become "sizable" in 2025. 

Optimistic about how the EV market will pan out in India, Mahindra & Mahindra Ltd Executive Director and CEO (Auto and Farm Sectors) Rajesh Jejurikar said as more people come in, the ecosystem starts developing faster and more products break barriers which the customers might have around EV adoption. 

The entry of more players in the EV segment will help in breaking barriers and accelerate adoption of electric mobility in the Indian market, according to leading automobile manufacturers. More product introductions will help in catering to diverse customer needs with competition leading to expansion of the market, they noted. The announcements by passenger vehicle market leader Maruti Suzuki India with its e VITARA and Hyundai Motor India's Creta Electric will help change the negative narrative regarding EVs in India and a unified voice from the Indian automotive industry across players and segments will help in better transformation and acceleration towards electric adoption, top executives of different automakers said. The general narrative on EV (earlier) was a bit more on the negative side, with a lot of question marks. Today, with all Original Equipment Manufacturers now having a credible EV portfolio, and they're all wanting to sell, I think the narrative on EVs will change, and the real benefits of owning an EV will be uniform now, Mercedes-Benz India Managing Director and CEO Santosh Iyer told PTI. Stating that the confusion which was there till last year would now ideally reduce, he said, I think a unified voice from the Indian automotive industry across players and segments will help for a better transformation, or acceleration towards electric adoption. Expressing similar views, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, Managing Director Shailesh Chandra said, When all the manufacturers come in, there's no doubt that if all the OEMs are going for electric vehicle, possibly now they (customers) feel confident that this is possibly the technology of the future and is not only backed by one manufacturer and that should boost the confidence. That boost of confidence should expand the market. On the increased competition, he said, That competition is a good thing because, as it is going to expand the market. Chandra said for the last one year EVs were under stress because globally everybody was talking about electric vehicles in a very negative way, gloom and doom scenario. Therefore, as a consumer, you will get confused whether this is the right time, or even whether I should even consider buying an electric vehicle, he noted. With the new launches, he said there will be collective noise around launches, and if multiple people are talking about electric vehicles, this will give a lot of boost and awareness for the consumers, which should expand the market. There will be collective work on the ecosystem. BYD India Head of Electric Passenger Vehicles (EPV) Business Rajeev Chauhan said, Looking at it, our sense is that with the entry of the largest manufacturer of India (Maruti), with the entry of the highest selling car in the SUV segment (Creta) getting an electric version, the number three player (Tata Motors), increasing their portfolio in this bracket, so this (EV segment) is bound to grow very, very quick. He said from about 2.5 per cent penetration level of EVs in the passenger vehicle segment, it can become sizable in 2025. Optimistic about how the EV market will pan out in India, Mahindra & Mahindra Ltd Executive Director and CEO (Auto and Farm Sectors) Rajesh Jejurikar said as more people come in, the ecosystem starts developing faster and more products break barriers which the customers might have around EV adoption. 

Next Story
Infrastructure Urban

APCRDA Approves Rs 9.04 Bn to Upgrade Infrastructure in 29 Amaravati Villages

The Andhra Pradesh Capital Region Development Authority (APCRDA), chaired by Chief Minister N Chandrababu Naidu, has approved Rs 9.04 billion for addressing key infrastructure gaps in 29 villages within Amaravati’s greenfield capital area, announced Municipal Administration Minister P. Narayana at the 51st CRDA meeting.The funds will be used to upgrade critical facilities including roads, drains, drinking water supply, sewerage systems, and street lighting. A detailed assessment revealed a 30 per cent shortfall in water supply, a total absence of sewerage infrastructure, a 40 per cent defici..

Next Story
Infrastructure Transport

Cabinet Approves Phase-1B of Lucknow Metro Rail Project Worth Rs 58.01 Bn

The Union Cabinet, led by Prime Minister Narendra Modi, has approved Phase-1B of the Lucknow Metro Rail Project in Uttar Pradesh. This phase covers an 11.165 km corridor with 12 stations—7 underground and 5 elevated—extending the city’s metro network to 34 km upon completion.Phase-1B targets the dense, historic parts of Lucknow, enhancing connectivity across key commercial, healthcare, tourist, and culinary hubs. Important areas served include Aminabad, Yahiyaganj, Pandeyganj, Chowk, King George’s Medical University, and landmarks like Bara Imambara and Rumi Darwaza.This expansion prom..

Next Story
Infrastructure Transport

Major Upgrades Planned for Tamil Nadu’s National Waterways

Tamil Nadu is poised for significant infrastructure upgrades across its National Waterways (NWs), with a focus on developing jetties, cargo hubs, and cruise tourism circuits, according to the Ministry of Ports, Shipping and Waterways. These projects aim to promote sustainable inland water transport and boost regional economic activity.Key projects include the development of Buckingham Canal (part of NW-4), with jetties planned at the following locations:Mahabalipuram to Ediyur BridgeCooum River near Marina BeachPulicat LakeEnnore Port to ETPS, specifically for cargo operationsOther National Wa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?