Amidst the rising petrol and diesel prices, Indian automobile companies are rapidly transforming themselves into advanced automotive tech companies. The central government has announced a PLI of Rs 25938 crore to companies producing electric and hydrogen-fueled vehicles. In the last few years, the focus of auto companies has shifted towards electric vehicles. Already before this announcement, the auto companies of the country are making a fuss in the direction of electric vehicles.
The race for kingship in the Electric Vehicle sector: 02 lakh direct and indirect jobs expected
52 automobile companies have applied for PLI scheme and Expected to have 30% share of EVs in India by 2030
Hero MotoCorp
- Set to launch electric scooter soon
- Buys 38% stake in EV startup Ather Energy.
- The agreement signed with Taiwanese company Gogoro for EV technology
Ashok layland
- Plans to transfer EV business to its sister company Switch Mobility
- Will produce small commercial EVs such as vans and electric buses under the Switch brand
Bajaj Auto
- formed a new subsidiary to handle the EV business.
- Chetak is making an electric scooter
- Will make high mileage e-bike with KTM.
Bharat Forge in electric vehicles
- Ties with British EV company Teva to make modular commercial EVs.
- Setting up a factory to make EV equipment,
- Investing in two-wheeler startup Torque Motors.
Mahindra & Mahindra
- The market leader in the small commercial electric vehicle segment is the country’s first EV maker.
- Treo manufactures EVs under the brand name and plans to invest Rs 3000 crore in the EV segment.
Tata Motors
- After Nexon and Tigor, the market leader in the electric car segment and working on Altroz EV
- All set to make British brand Jaguar all-electric.
TVS Motors in electric vehicles
- Plans to invest Rs 1000 crore in the EV segment and an e-scooter available in the market under iCube.
- Working on plans to make the entire portfolio of 2 and 3 wheelers electric
Currently, charging infrastructure for e-mobility is a neighborhood of concern; however, some positive developments are. Delhi recently legalized charging stations for e-rickshaws and hopes that civic agencies and private players would step forward with more incentives. NTPC, India’s largest power generation utility, has already commissioned its first Electric Vehicle charging station – created in-house with a capacity to charge three electric vehicles together- in Vishakhapatnam.