Evolving To Electric
Businessworld|26 Jan 2022
Within four years (FY17 to FY21), passenger EV industry has witnessed a growth of seven times (7X). Tata Motors alone has sold 12,000+ EVs till Nov’21 and monthly booking generation has started touching 3,500 for its two models - Nexon EV and Tigor EV. In FY22, the Indian Passenger Vehicles EV segment is expected to triple in sales, as compared to FY21.
Shailesh Chandra, President, Passenger Vehicles, Tata Motors
Evolving To Electric

ELECTRIC VEHICLES TODAY are head turners on the Indian roads. They are increasingly gaining the mind space of Indian consumers as EVs offer a practical solution to their concerns, such as, rising fuel price and worsening pollution. New EVs launched in the past few years are providing more choices to the buyers and increasing positive word-of-mouth from the early adopters is helping in busting myths and overcoming mental barriers that existed against their adoption. State governments have also played their role through enabling policies complementing the efforts of the Central government, thus creating a favourable environment for both ecosystem players as well as buyers. Consequently, there is a steep rise in demand for electric vehicles in the last few years and there’s an increasing confidence among the business community to now invest in the development of an EV ecosystem.

Progress So Far

Government incentives have played a big role in creating an enabling environment towards adoption of EVs. The first phase of initiatives, such as NEMMP (National Electric Mobility Mission Plan) and FAME I (Faster Adoption and Manufacturing of Electric vehicles), from 2012 to 2016, had limited impact in overcoming the key barriers to electrification. However, the direction set by the government and policies introduced post 2018 have brought greater focus and have comprehensively addressed the critical barriers to EV adoption.

Denne historien er fra 26 Jan 2022-utgaven av Businessworld.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra 26 Jan 2022-utgaven av Businessworld.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BUSINESSWORLDSe alt
Gauging Trumponomics For India
BW Businessworld

Gauging Trumponomics For India

Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0

time-read
2 mins  |
November 16, 2024
Reflections on Consciousness and Creation
BW Businessworld

Reflections on Consciousness and Creation

Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind

time-read
2 mins  |
November 16, 2024
MORE TAKE TO DRIVING IN STYLE
BW Businessworld

MORE TAKE TO DRIVING IN STYLE

High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure

time-read
4 mins  |
November 16, 2024
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
BW Businessworld

India's Growing Affinity for Swiss Watches: A Luxury on the Rise

NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.

time-read
2 mins  |
November 16, 2024
An ENRiching Outlook
BW Businessworld

An ENRiching Outlook

KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence

time-read
2 mins  |
November 16, 2024
Paving the Path to a Sustainable Future
BW Businessworld

Paving the Path to a Sustainable Future

Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees

time-read
2 mins  |
November 16, 2024
LEADERSHIP TRANSITION AT XIAOMI INDIA
BW Businessworld

LEADERSHIP TRANSITION AT XIAOMI INDIA

Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus

time-read
3 mins  |
November 16, 2024
WEAVING SUSTAINABILITY
BW Businessworld

WEAVING SUSTAINABILITY

Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain

time-read
1 min  |
November 16, 2024
FORCE FOR GOOD
BW Businessworld

FORCE FOR GOOD

FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives

time-read
1 min  |
November 16, 2024
REIMAGINING TOMORROW
BW Businessworld

REIMAGINING TOMORROW

For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders

time-read
1 min  |
November 16, 2024