Mobility as a Service (MaaS) & ecosystem solutions:
Redefining urban transportation
MaaS
involves integrating various electric transportation modes onto a single
platform. This includes electric cars, scooters, bikes, and even pod taxis.
Users would be able to access these different modes of transport seamlessly
through a smartphone app. By making it easier for people to get around without
needing to own a car, MaaS has the potential to reduce traffic congestion and
air pollution in Indian cities. Moreover, ecosystem solutions hold the
potential to solve EV infrastructure challenges and develop innovative service
opportunities.
Large-scale opportunities for EV MaaS and ecosystem solutions include smart charging & vehicle to grid integration and electrifying beyond roads. Niche opportunities, such as personalization and wireless charging infrastructure, also exist. The mid-scale business includes innovations like autonomous taxis and ships, urban air mobility (EV take-off and landing), electrifying utility vehicles for construction, agriculture, industrial use, etc, and shared autonomous vehicles (SAVs).
EV exports: Expanding the global footprint
India's
push for EVs offers a prime opportunity across multiple fronts for Indian
entrepreneurs and facilitates their global market expansion. Indian businesses
can strengthen the manufacturing and export of EVs along with EV components and
software technologies while leveraging workforce and IT expertise. Exploring EV
manufacturing in cost-effective states and leveraging government initiatives
like PLI drives the potential for competitive manufacturing for global markets.
Additionally, India's semiconductor and electronics potential, backed by
government focus and foreign investment, positions the country as an emerging
manufacturing and export hub for EVs.
India's
IT prowess extends to the software and IT architecture that powers connected
vehicles and charging infrastructure. To solidify its future in EVs, India is
strategically developing expertise in battery lifecycle management,
encompassing battery cycling and second-life solutions. By seizing this
multifaceted opportunity, India is poised to become a dominant player in the
global EV market.
Local manufacturing hub: Building a sustainable
supply chain
Government
initiatives such as 'Make in India' are catalyzing a significant transformation
in the development, manufacturing, and assembly of EV components and batteries.
Large-scale opportunities include motor and battery manufacturing while
mid-scale opportunities include power electronics and battery pack assembly.
India holds substantial potential to emerge as a manufacturing hub for EV
components and batteries. Additionally, niche opportunities such as EV
retrofitting, blockchain-based supply chain management, and innovating for
advanced battery chemistry have the potential to create additional business
value concurrently.
Sustainablity
economy and carbon credits: Building a green economy
Organizations
have the potential to earn carbon credits as an incentive for reducing carbon
emissions via EVs and switching to renewable sources of energy for the charging
infrastructure, effectively minimizing their carbon footprint. This practice
can serve as a substantial opportunity for revenue growth, alongside businesses
boosting the sustainable economy like battery recycling and the used EV market.
Furthermore, it will lead to the development of carbon credit marketplaces,
thereby giving rise to mid-scale opportunities such as IoT-based carbon credit
management and AI-based impact analysis. Moreover, with the increased adoption
of EVs, it will also be interesting to witness how the story of hybrids and
PHEVs play out, in turn creating a large-scale business opportunity.
