AUGUST 202419In an exclusive interaction with Industry Outlook, Nishant Arya, Vice Chairman & MD of JBM Group, discussed the thriving potential of India's EV segment and its transformative impact on transportation. With over a decade of experience, Nishant is a dynamic leader who has transformed JBM Group into a global conglomerate. A graduate of Bradford University and the London School of Economics, he is renowned for his innovative solutions in EV and sustainability and has received numerous industry accolades.INDUSTRY INSIGHTSINDIA'S JOURNEY TOWARDS A ROBUST ELECTRIC VEHICLE ECOSYSTEMCan you give us an overview of how electric vehicles are currently being adopted in India? What trends do you see shaping the growth of the EV ecosystem?India is a frontrunner when it comes to transitioning to electric vehicles, especially in 2W/3W and electric bus domains, thanks to the forward-looking policies of the government, etc. The EV sector in India has successfully overcome the initial challenges of an extensive charging infrastructure, an effective payment security mechanism, power infra, etc. which has led to a faster deployment of e-vehicles in the country and has also encouraged auto OEMs to launch new EV products.The electric vehicle (EV) ecosystem is rapidly evolving, driven by technological advancements, policy support, and increasing consumer interest. Some of the latest trends in the growth of the EV ecosystem include battery technology innovations involving second and third-life applications, charging hubs and their integration with renewable energy, Vehicle-to-Grid (V2G) technology, integration with autonomous driving being seen as the future of mobility, sustainability in manufacturing, etc. These trends indicate a robust and dynamic evolution of the EV ecosystem, which is expected to continue accelerating as technology advances and the global demand for sustainable transportation solutions grows.How has the Indian government's FAME II policy influenced the development of the electric vehicle ecosystem?The much-needed momentum required for the EV sector was provided with the announcement of the FAME policy. The government's thrust towards converting public transportation to electric was the highlight of this policy. India's electric bus segment is expected to grow 8-10 times in the next 5 years. With multiple other schemes like PMP, NEBP, and the recently announced PM e-bus sewa, the rate of e-bus adoption and deployment has gained further thrust. In fact, with the PM e-bus sewa program, the electric bus and EV infrastructure adoption will reach the grassroots level penetration in India i.e. the Tier 2 and 3 cities with over 10,000 e-buses and EV infrastructure in 169 cities in the country.Given the increasing customer response and buying rates for EVs, what specific measures are industries implementing to enhance efficiency and sustainability?It is now generally accepted that green technologies, such as EVs, EV aggregates including batteries, and renewable energy will play more impactful roles across industries to drive value. Several reports suggest that while in 2020 green tech and sustainability market was valued between $10 and $12 billion, by 2030 it is expected to reach close to $75 billion. Nishant AryaVice Chairman & MDBy Nishant Arya, Vice Chairman & MD, JBM Group & Chairman, Linde + Wiemann SE & Co. KG
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