Corrit Energy and Infra is one of the fastest growing companies in the field of Solar Energy in India. It is involved in turnkey projects for On-Grid solar power plant, off-grid Solar Power Plant, Hybrid Solar Power Plant and Operation and Maintenance of Solar Plant across India and Overseas.
Mr. Mayur Misra, Co-Founder and CEO of Corrit Energy and Infra shares with Mobility his experiences, the trends in EV, the insight into the EV segment and his road ahead during an exclusive interaction
- EV is a new technology. How do you see it changing over a while?
The future of mobility is a critical point of inflection. The elevating oil prices and debates on climate change have surely accelerated the EV industry and shifted consumers towards opting for EVs. A lot of EV startups are disrupting the traditional market with efficiency and features at the same time. Slowly but surely people are preferring EV’s over normal vehicles. A report by India Energy Storage Alliance (IESA) projects that the Indian EV market will grow at a CAGR of 36 percent by 2026.
- How the public charging network needs to keep up with the rapid change in consumer behaviors.
With the emergence and encouragement of the EV industry, the idea of decarbonizing the world will surely flourish shortly. India is among a few countries that encourage the global EV30@30 campaign, which aims to have at least 30% EV sales by 2030. Public charging network needs to be developed keeping in mind the future needs of the consumer. Currently, the charging infrastructure is based on electric vehicle supply equipment (EVSE) which is a basic unit of charging infrastructure that accesses power from the local electricity supply grid. It is expected that in the future the charging infrastructure will be more convenient, portable, and rapid for all types of EV’s regardless of the shape, size, and efficiency of the vehicle.
- What is the idea behind the popularity of electric vehicles?
According to me, there has been a dire need for such alternatives like EVs for a very long time. Though the electric vehicle has gained exceptional popularity in a very less time, I believe the cause and motivation behind it are itself very revolutionary. There are various and important reasons for this exponential popularity like EVs reducing emission which helps in reducing pollution and thus helps the public health and decrease environmental damage. Another reason is the accessibility, with more dynamic and future-centric designs, they can offer more advanced features and be cost-efficient at the same time. With emerging and advancement in EV infrastructure, it allows staying digitally connected all the time.
- How does green energy catalyze Corrit electric?
One of the biggest challenges with the world remains the toxic pollution emitted by the IC Engine vehicles. Corrit Electric is a renewable sources committed company that used lithium ion cells for batteries thus ensuring no further damages to the air through vehicles.
- How do the increasing fuel prices impact purchasing behavior?
The increasing fuel prices are impacting the purchasing behavior of the consumer. With the spike in petroleum prices, consumption is also gradually slowing down. The auto industry as a whole is being hampered by this increase in fuel prices. The BS-VI guidelines have already made the vehicles expensive. The increased fuel prices are affecting all the sectors, from transportation and logistics to domestic use which is disrupting the economy. With the spike in fuel prices, people are now shifting towards EVs and which is according to me is going to be the future. I believe in a larger spectrum, fuel hike is a boon as well as the bane, whereas it has affected the economy and lifestyle of consumers but has also somehow convinced consumers to shift towards green energy which is very important for the environment as well as public health.
- What are the plans?
Company intends to become a full fledged EV manufacturer in the country. The company already has a team of experienced and committed engineers who are working on multiple vehicles currently keeping high quality and design USPs in mind. Company aims at launching 2 other vehicles besides Hover in the market this year and intends to sell atleast 10,000 units of its products by Mar’23.
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