The Government on Thursday set a manufacturing target of five lakh electric three wheelers, at least 55,000 electric four wheelers and 7,000 electric buses by 2024 as India’s automobile manufacturers and vehicle exhibitors took to the 16th Auto Expo stage with a vengeance, launching products across PV and commercial segments, high on innovation in clean, green and sustainable solutions. Union Minister of Heavy Industries Mahendra Nath Pandey set out the vision against the backdrop of India’s emergence as a major exporter of auto components with shipments of around $19 billion in FY 2022, significant contribution by the components industry in India’s GDP. A r o u n d R s 6 8 ,0 0 0 crore of investments were drawn under the original equipment manufacturer (OEM) and components industry through the PLI schemes for the auto components sector along with the FAME initiative, Pandey said at the inauguration of the 16th Auto Expo Components Show 2023, jointly organized by the Automotive Component Manufacturers Association of India, Society of Indian Automobile Manufacturers and the Confederation of Indian Industry. Besides the Government’s effort on providing a robust infrastructure for the sector, improving cost effectiveness is seen as an imperative for India to become a global auto leader by Sanjiv Bajaj, President, CII while Sunjay Kapur, President, ACMA sees focus on R&D, innovation, and localisation for eco-friendly mobility solutions as mantra for the same objective. Jupiter Electric Mobility debuted two e-light commercial vehicles and WardWizard unveiled high-speed electric scooter ‘MIHOS’ as well as the concept of its city electric motorcycle ‘Rockefeller’ at Auto Expo 2023. India also got its first automatic dual speed transmission electric three wheelers with Shera R8 and Shera Comfy from MTA EV as well as its first indigenous smart multi-purpose EScooter ‘URBN’ from Motovolt. Godawari Electric Motors launched its electric auto (L5M) Eblu Rozee and electric bicycle Eblu Spin while Gravton Motors unveiled four new EV’s — QRX, ARQ, Rapid EV (Gravton motors partnered with log9) and Quanta SE (Gravton motors partnered with Sun Mobility) and Corrit Electric announced the launch of B2B focused delivery electric bike- ‘Transit’. Among the most striking developments in the passenger EV space is the launch of IONIQ 5, an EV model from Hyundai Motor India (HMIL) offered on a dedicated electric global modular platform with a range of 631 km per full charge.
