Future is of electric vehicles in India,Companies prepare for initial gains

Mahindra is the forerunner in efforts for electric vehicles in India

Car manufacturers are seriously working towards making preparation for manufacturing of electric cars in India which is considered to have a bright future.

Mahindra and Ford have recently joined hands again after 12 years in this direction. According to the information given by the company, the two companies will be able to use each other strong technology in the electric segment after this agreement. This agreement between the two companies was done to increase accessibility in the Mobility Program, Electrification, Connected Vehicle Project, Product Development Distribution and Mahindra Global Markets.Mahindra and Mahindra, who is always in favour of electric vehicles, has been at the forefront in the electric car segment in India. The company has invested Rs 600 crore to strengthen its portfolio, starting from electric vehicle Arm and E2O range.

12 new electric car models from these companies

In the electric car segment, Renault – Nissan and Mitsubishi alliance have set a target to launch 12 new models by 2022. These three companies will support common platforms and new technology with the help of each other. And for this, these three companies are increasing the production of electric cars. 

Petrol/diesel car market leaders will need a shift in strategy

In India, petrol and diesel vehicles are dominated by companies like Maruti Suzuki, Tata Motors, Hyundai and Mahindra. But, none of these companies have made any special identification in the electric car segment.Maruti Suzuki also said the shareholders in the annual report of the financial year 2017 that the company is preparing itself for EV in the country.

Hyundai Motors, the largest vehicle manufacturer in South Korea, has left plans to build hybrid cars. And, the company is now considering to launch electric cars in India in the beginning of 2019. 

Now, these companies need to work in the electric car segment, for which heavy investment and R & D will be needed, and at the same time they will have to work on new technology, for which they will have to join hand with those companies which are strong players in the electric car segment.

Governments from all over the world are also saying to automotive industry about going to the clean energy. There is also emphasis on shift from petrol and diesel to electric vehicles. Companies that are already in this segment want to increase this market and also awaiting new technology. 

Toyota and Suzuki setting up lithium-ion plant

Japan’s legendary car maker Toyota and Suzuki are setting up a lithium-ion plant in India so that electric and hybrid vehicles would be rollout from these factories in the future.