India will become the world leader in making electric vehicles: Namit Gupta, Director of Futurex Group

just pune things app
Share this News:

Pune, 22 November 2022: E-mobility in India is picking up speed – and is racing ahead more rapidly in India than in any other country. India International EV Show 2022 was hosted at Auto Cluster Exhibition Centre, Chinchwad, Pune. that brought the thought-leaders, creators, and innovators from the electric vehicle sector together with the rest of the world to rethink sustainability through innovation and experience.

 

Concurrent event Auto Component International Show conveniently brought together: all the latest new materials; new engine technologies, including electric motors and hybrid applications; new control systems; sensors; testing and validation services and technologies; and innovative ideas that will help manufacturers of Electric Vehicles ultimately improve product design, efficiency and thus sales – all under one roof!

 

The automobile industry’s transition to electrification will disrupt the whole supply chain and result in a dramatic shift in the market size for automotive components. By 2030, key components for electrification, such as batteries and electric drives, as well as autonomous driving, such as light detection and ranging (LiDAR) sensors and radar sensors, would likely account for roughly 52% of the overall market size.

 

“India International EV Show brought together the industry’s most influential minds who shared their insights and successes of EV development in India, opportunities for a sustainable future, and how their organization can help accelerate the transition to a cleaner, less polluting form of transport. Considering this rapid growth of electric vehicles, India will lead the world in manufacturing of electric vehicles,” said Mr. Namit Gupta, Director of Futurex Group.

 

“In fact, the government aiming for 30% of vehicles to be electric by 2030. According to a report released by the Niti Aayog, the size of the electric vehicle finance industry in the country will be 3.7 lakh crore rupees by 2030. Along with this, an investment of 19.7 lakh crore rupees will be required in charging infrastructure and batteries of electric vehicles in the next ten years.” Added Mr Gupta

 

The first edition of the India International EV show witnessed over 12000 visitors, and more than 130 delegates attended EV Dynamic Symposium. The event over the span of three days, explored how collaboration among government, business, and research institutions can help deliver a sustainable transportation system that reduces emissions, increases supply chain diversity, enhances safety, and reduces costs.