Economy

E-mobility offers $500 billion business opportunity in the next five years.

Our Bureau Bengaluru | Updated on November 20, 2020 Published on November 20, 2020

E-mobility offers a $500 billion global opportunity in the next five years, said German Consul General Achim Burkart here on Friday. While participating at an online panel discussion on ‘e-mobility: Moving into the Future’ held as part of Bengaluru Tech Summit, Burkart said there is a consensus that a cohesive work environment should be created in collaboration with government and private to tap this opportunity.

“E-mobility is a very crucial topic. First, it is about our future also it is a $500 billion opportunity. The EV initiative should be led by both public and private participation,” said Burkart. He highlighted the fact that the German government set a big role in e-mobility space and it was initiated by German Chancellor Angela Merkel.

Echoing a similar view, Pankaj Vyas, CEO & MD, Siemens Technology & Services said rather than a piecemeal approach India should come up with policies that will help in building a solid ecosystem for the successful adoption of mobility. “We should come up with an ecosystem for the e-mobility in the tech space, building up the manufacturing base, battery suppliers, charging stations and overall digital infrastructure to support the commercial aspect,” said Pankaj Vyas.

CEO Manu Saale, Managing Director & CEO Mercedes-Benz Research and Development India said e-mobility is impacted by factors like range and route, predictability and infrastructure. “Within the city, the route can be set up to some periphery of the city and it is less challenging and manageable. On the predictability front, the impact is on personal mobility and we know that India has already sold more than 1,00,000 electric two-wheelers,” said Manu Saale.

It has to be a layered approach. The public transportation sector will adopt e-mobility and then trucks and garbage carriers will join the bandwagon. “On the intra-city movement, we need more infrastructure to be placed. We need more interesting solutions including dynamic charging systems in heavily vehicular highways,” Saale added.

Dattatreya Gaur, vice president and head of Robert Bosch Engg and Business Solutions was of the view that the government should take the lead with capacity building and demand creation. “Government has already invested in capacity building in conventional vehicles. Now we have to make a smooth switch from conventional to EV, although electric vehicles are a long furlough game,” he added.

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Published on November 20, 2020
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