What are the opportunities of EV in India?
Given the 2070 goal of the Government to be a zero-emission country, EV is the area of growth and development. There is an opportunity to bring products to market or establish a proper infrastructure or get an ancillary network in place that can help manufacturing meet the market demand. As it’s a growth sector with loads of work to be done, so are the opportunities. Being a chicken and egg situation – what do you do first – do you get the vehicles on the road or the required infrastructure.
An independent study by CEEW Centre for Energy Finance (CEEW-CEF), projects the EV market in India to be a US$206 billion opportunity by 2030.
What is your take on rise of EV?
One of the steps to becoming a zero-emission country the move towards E-mobility is a given. This has translated to the Government taking several steps to encourage investment in this segment to bring new offerings and establish the required infrastructure. Being an industry experiencing explosive growth, has attracted many a new player, resulting in a proliferation of start-ups this space as the traditional players works on strategizing to accommodate this change and shift gears. Driven by favorable government policies and increasing environmental awareness, the industry has seen a traction for EV. EV vehicles have integrated cutting-edge technology to provide a host of features to propel electric mobility and make electric vehicles smarter and user-friendly—all to make EV a preferred choice for end-consumer.
How is your company different from others since there are a lot of companies in this segment?
I believe my vision differentiates me from the rest. I am driven by my single vision of making commute easy and affordable for the majority. With that vision, I have brought to market a line-up of affordable 2-wheelers with state-of-the-art features and high quality. Understanding that each customer has a different requirement underlined our approach to leave the choice of battery to the customer. The customer can now tailor the vehicle to fit his/ her need & pocket.
What is the role of Make in India?
We are manufacturing our scooters in India; we try and source as many components as we can locally, but the fact of the matter is ancillary industries making components for EVs is far short of demand in India, and some of the components are import-dependent. We are hopeful that with the push and encouragement the Government policies are providing ancillary units to join the EV revolution, the situation should soon change.
How do you position your company in the next 5 years?
In 5 years, we expect Greta Electric Scooters to be a leading player in the two-wheeler segment. As a step in the direction, we are aggressively expanding our footprint across the nation. The current target is 50+ touchpoints by the end of FY22. The next step would be to explore international markets. To be competitive and pass the stringent international standards focus is on incorporating the state of art features and delivering quality in line with the international standards.
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