On World EV Day, Startups Are More Optimistic Than Ever About The Future

September 9, designated as World EV day has come around again, and this time, we can truly say that a new sense of optimism pervades the sector. Yes, there have been the usual hiccups, including the not so minor issue of quality control over the Lithium ion batteries that power most EVs, but it would be fair to say that the march of EVs is truly a fait accompli now. Nowhere is this more evident that among the many startups the EV ecosystem has spawned, with many promising to rise to great heights. We have a collection of quotes for the day from some of these founders/leaders.

Tarun Mehta, Co-Founder & CEO at one of the earliest two wheeler EV startups,  Ather Energy has this to say, “This year’s World EV Day is particularly significant. EV demand has been increasing across the country in recent months. The transition to sustainable modes of transportation has begun well, largely led by electric two-wheelers. Electric vehicles are the single biggest hope for achieving a decarbonised world and faster adoption of EVs is the first step towards this goal.  Each day, Ather users are riding more than 10 lakh kilometres saving 25,000 litres of petrol and 57.5 tonnes of C0₂. The rising demand makes it quite clear that consumers are open to shift to EVs from ICE vehicles and the industry needs to support this by offering better performing electric vehicles. I am hopeful that with the constant support of the government, we will achieve our country’s EV goals by transitioning to a fuel free future.”

“Mohal Lalbhai, Founder and CEO at Matter believes we have every reason to celebrate the day. “The fact that we are celebrating EV day is an interesting sign for humanity.  India has every reason to celebrate as it chooses clean mobility and is poised to become an EV epicenter. The country has seen a substantial shift towards electrification of mobility fueled by tech innovations through startups, government support, new manufacturing hubs, the eagerness of the consumer, and ever-improving infrastructure. While we have come a long way, I believe that as an industry, we need to put equal focus on all segments of vehicles to be able to achieve our 2030 EV goals. Today when we look at the 2W EV market, most of the start-ups and legacy OEMs have prioritized EV scooters. The focus on EV motorbikes that cater to almost 65% of the Indian market is a key to increasing the e-2W market share in the country.

For Pragya Mittal and Devrishi Arrora, Founders at Evify Logitech, an EV driven logistics firm, it’s a time to look back and evaluate the progress made. “When EVs were first introduced to the market, they struggled to take off because of concerns about initial cost, low speed, and battery range. Today, millions of EV vehicles are being adopted by both B2B and B2C segments worldwide. The growth is further accelerated thanks to governments worldwide encouraging the EV industry through regulations, incentives and subsidies. There has also been a shift in consumers demanding low-emission, green vehicles amid climate change concerns. This World EV Day, we pledge to join the initiative by encouraging more companies to adopt sustainability in their business and switch to electric vehicles to contribute their share in decarbonizing the logistics industry”.

Tushar Choudhary, Founder & CEO, at electric cycle maker Motovolt , it’s about changing consumer attitudes to cycling. “One of the key components of sustainable mobility, as a lot of major cities across the world are discovering, is the adoption of electric commuting by the masses. This is where it is critical to create a diversity of options that include large shared vehicles such as trains and electric buses and cars and smaller vehicles, electric 2-wheelers, and e-bicycles. All of these have their own unique benefits and target audiences. For instance, people who commute short distances are likely to look for 2-wheeled electric mobility options, but the majority of them, especially those from low-income groups, might find electric scooters to be too costly. That’s where e-bicycles come across as a feature rich, easy, and affordable medium for individuals who commute alone and are not looking at spending heavily on the vehicle or the daily commute. “

Manav Kapur,Executive Director, Steelbird International, an established auto components supplier is happy to see recognition for EVs. ” The very fact that Electric Vehicles (EVs) now enjoy the privilege of a dedicated global date is proof that the EV revolution is the new global paradigm, poised to impact lives and lifestyles in a mammoth way. Indian component manufacturers are extensively chalking out strategies to expand their capacity and create new skill sets to adapt to the EV evolution and the revolution it is bringing about. The Automotive Component Manufacturers Association of India (ACMA) has recently stated that among its 800 members, 60 per cent are ready to supply components to electric vehicle manufacturers and the rest have asserted to be prepared by the end of the year or 2023. The Indian EV component market was valued at $536 million in 2019 and is projected to grow at a compounded annual growth rate of 22.1 per cent between 2020 and 2030. The auto component industry is expected to invest approximately Rs 16,700 crore in Financial Year (FY) 2023 and approximately Rs 20,800 crore in FY2024 of which 25 to 30 per cent is expected to be invested towards electric vehicles.”