“When you look at the overall mobility sector at this point of time, one thing is very, very clear that we are going to move away from emission vehicles and are going to move towards zero emission vehicles.”
January 2023: Naveen Munjal, MD, Hero Electric Vehicles Pvt Ltd & President, SMEV, delivered the Keynote Address at the Future Series “EV Ecosystem-Challenges and Opportunities in India” Conclave organized by the Alumni bodies of IIT (BHU), Varanasi (Association of IIT BHU Alumni (AIBA) & AASSII), PanIIT Alumni India, and Pro MFG Media recently.
The Conclave’s supporting partners were ACMA India, MeitY-NASSCOM Centre of Excellence, IIT Delhi Alumni Association and PHD Chamber of Commerce and industry. This Conclave brought together the entire mobility ecosystem on one platform.
During his virtual address, Mr. Munjal pointed out that the ecosystem has started to develop in the last two years to three years. “Now with all this falling in place and the huge push that we are getting, there is the FAME II policy in place, which is to go on till march 2024, we will hit the five million mark in the 2-wheeler segment. The conversion rate, which was earlier about 1.5 percent of the two-wheeler market, is going to be close to 5 percent this year. We anticipate that by 2027 this number would be a minimum of 40 percent to 50 percent, which is about 10 to 12 million units of electric vehicles, up from three lakh last year.”
“When you look at the overall mobility sector at this point of time, one thing is very, very clear that we are going to move away from emission vehicles and are going to move towards zero emission vehicles and that is what is required for multiple factors when we look at it from a climatic standpoint. We are signatories to the 2070 Accord which talks about net zero by 2070,” Mr. Munjal highlighted.
“I am extremely confident that the path ahead is absolutely electric. It is zero emission delta zero emissions, which is what is required for most of our urban centres. We are following hockey stick growth already, which is going to continue for the near foreseeable future and it’s only going to expand from here on,” he added.
NEWSLETTER
TRENDING ON PRO MFG
MORE FROM THE SECTION
