From production to disposal, the industry’s contribution to climate change and CO2 emissions remains a pressing concern. Undoubtedly, moving towards a greener, more ecological solution presents an ideal business move for automobile manufacturers, offering significant potential to drive a more sustainable future.
Resultantly, companies are actively seeking to launch their electric vehicle in the market. Recent statistics highlight the transformative impact of green energy on the automotive industry, with electric vehicle (EV) sales witnessing remarkable growth.
According to the International Energy Agency, a record 10 million electric cars were sold globally in 2022, up from 6.9 million in 2021. China, Europe, and the US claim most of the market share.
India, though a little behind in electric cars, registered EV sales across all vehicle segments for 12,43,258 units in 2022, a 154% increase over 2021 sales, with electric two-wheelers accounting for the most sales.
This surge in demand for greener transportation signifies a paradigm shift towards a more sustainable future for the automotive industry in India.
Evidently, top EV companies like Tesla and BYD have also started protecting their technologies in India.
In the last decade, Tesla has filed and acquired around 30 patents related to EV batteries. At the same time, BYD has filed 125 patents. While Tesla is pushing to establish in India, BYD seems to be growing fast in the last few years.
Tesla had even registered a company named Tesla India Motors And Energy in Bengaluru but didn’t process further due to heavy import duties. Ever since there’s been to and fro talks about it. However, PM Modi’s recent meeting with Elon Musk during his US visit shows positive signs that Tesla will soon set up their base in India.
On the flip side, BYD made an impressive debut in the Indian market with their first electric SUV, the Atto 3. Within two months of its launch in November last year, BYD successfully delivered 700 units. With an ambitious target of selling 15,000 units this year, BYD intends to become the second-largest electric vehicle (EV) seller and solidify its foothold in India’s burgeoning EV market.
However, India-based Industry giants such as Tata Motors, which counts Jaguar Land Rover among its subsidiaries, Mahindra and Mahindra, and Ola are maintaining a strong foothold in the Indian market as foreign companies seek the potential for setting up manufacturing units for both EV and its components in India.
Tata alone was accountable for 85% of the EV sales in India in 2022, followed by MG Motor India. The company has filed over 70 patents across various countries in EV, Hybrid, as well as EV charging stations and devices.
EV Startups like Ather Energy, with 23 patents in the home country, are making a mark in the EV sector with their indigenous innovations. Using Cloud IoT Core and BigQuery, Ather Energy created an intelligent electric scooter with route optimization and predictive maintenance to help people in India’s dynamic economy. Their synergy with Cloud IoT solutions resulted in a one-of-
a-kind mobility platform for India and beyond.
As countries intensify efforts to combat climate change, regulations are being enforced to minimize the environmental impact of car emissions.
Automakers have a unique opportunity to lead the charge toward a greener future by adopting eco-friendly solutions. Even OEMs are actively innovating environmentally friendly vehicle parts. GiTi Radial Tire (Anhui), a China-based global supplier, is working on a super abrasive high-mechanic fuel-saving environmental protection VAN tire.
By prioritizing sustainability, the automotive industry can significantly reduce CO2 emissions and pave the way for cleaner transportation.
India’s pioneering automotive companies, alongside their global counterparts, have set their sights on harnessing the immense potential of green technology within the automotive sector. As the momentum for sustainable transportation grows, India’s automotive industry stands poised to lead the charge toward a greener tomorrow.
