Pan IIT Alumni Network Organises EV Conclave to Reflect on E-Mobility Ecosystem

To address the demand, difficulties, and opportunities in the engineering, production, and adoption of EVs, Pan IIT Alumni and Alumni Associations of IIT (BHU) Varanasi bodies organised “The Future Series, the EV Ecosystem Conclave” in Delhi. At the event, academics, policymakers, and experts from across the entire e-mobility ecosystem came together to discuss the importance of EVs, as well as innovations, adoption, and challenges in the automotive industry.

The IIT Delhi Alumni Association, the Ph.D. The Chamber of Commerce, the Automotive Component Manufacturers Association of India (ACMA), and the NASSCOM Centre of Excellence – IoT & AI all assisted in the event. The colloquium sought to fully comprehend the dynamics of the rapidly evolving EV Ecosystem and how EVs represent one of the most promising avenues for lowering carbon emissions and enhancing air quality throughout India. 

The professionals sought to propel the sector into the New Age of Mobility by comprehending the issues and investigating workable solutions. The conference concentrated on promoting growth and sustainability as India shifts gears to achieve its ambitious climate change goal of 45% lower carbon emissions and 50% electric generation from non-fossil fuels by 2030.

The global auto industry is currently ranked fifth, but by 2030, it is anticipated to move up to third. India is the greatest producer of tractors, buses, and two- and three-wheelers in the world, as well as the second-largest manufacturer of buses. The value of the Indian automotive sector is approximately USD 222 billion, and the country’s EV market is anticipated to reach USD 2 billion by 2023 and USD 7.09 billion by 2025. 

The Indian EV market is now in its infancy, which presents the potential for automakers to create effective EVs for Indian consumers. As of August 2022, there were 13, 92,265 electric vehicles on Indian roads (data by Ministry of Road Transport and Highways, India). By 2030, this will likely increase by 45–50 Mn EVs on the road.

Electric vehicles are advancing thanks to worldwide trends and changes in the automotive sector. The Indian market is still faced with many obstacles that prevent it from expanding, and customers have mixed feelings about it. The experts at the conference focused on the biggest problem: the price of EVs. In India, two and three-wheelers have successfully surpassed four-wheelers in market share, and customers are following suit. 

Since the lithium-ion battery is so important to EVs and accounts for roughly half of their cost, it is also very pricey. Many panelists agree that one of the main causes of EVs’ high price is the import of the raw materials required to make lithium-ion batteries in India. Therefore, it is crucial to introduce innovation into the battery, such as recycling lithium-ion batteries and extracting elements with the help of professionals, which may further help lower the cost of EVs.

The panelists at the colloquium brought up the issue of effective battery charging facilities to address the second obstacle. According to the most recent data, there are 2477 EV charging stations dispersed throughout 274 cities in India. Maharashtra has the most of these, with 538 stations, while Tripura has the fewest, with just 1. Given that the Indian market is seeing an increase in demand for EVs, it is crucial to provide effectively and enough charging outlets. 

Additionally, the Indian government is actively promoting the need for EVs, which are essential for lowering carbon emissions. Government agencies and companies involved in the battery industry need to adopt cutting-edge technology like battery swapping and develop efficient fast-charging capabilities.

In every session, the panelists discuss the significance of EVs in India and the crucial roles that various automakers, industry leaders, and governments play in ensuring the sustainability of the EV ecosystem.

The Central and State governments are bringing newer policies and incentives for the auto industry, battery makers, and start-ups. For instance, the government of Delhi has waived all road taxes for EV owners, and other states are also moving to enact various measures.

Geopolitical and socioeconomic dynamics are also brought by the conference, compelling markets to create a local EV ecosystem. All EV components will likely experience economies of scale as consumer demand increases; consequently, they need a strong supply chain to enable production lines to deliver goods more effectively.

Debashish Bhattacharya, President, of Pan IIT Alumni said, “The focus and drive to replace conventional vehicles based on fossil fuels is bringing about a radical transformation, the scope of which is huge. While this creates a very large opportunity that will play out for a long time, there are challenges in multiple dimensions. The obvious ones are battery technology, range, affordability, and infrastructure. Also important is the management of heat generated, ease of repair and replacement, as also reskilling, and upskilling since the existing infrastructure will be redundant and people will require new skills to handle EVs and their aftermarket. The reskilling itself will cause a huge impact from a training infrastructure perspective and also a human perspective. Investments are expected to be to the tune of US $ 180 billion in the next 10 years, during which the market is expected to grow to almost USD 200 billion. The policies of the government need to be such that consumers can afford an EV, subsidy could be one of the policies. The implementation of such a transformation will require a very large canvas of thinking, covering all possible dimensions. Geopolitics could also create challenges, for example, the Ukraine war has resulted in Russia not supplying gas to Europe which has impacted their capacity to generate power, and therefore it seems Switzerland, followed by France and Germany, may enforce a ban on EVs for the next few years as per a recent report. The implementation of the transformation, therefore, needs to be carefully looked into as well as policies that enable this transformation are the most critical pieces.”

Startups that make batteries and major players in the auto industry that are developing batteries are investing heavily to create batteries that are safer, less expensive, smaller, lighter, and have a longer lifespan. According to the latest research, the market for electric vehicles worldwide was worth USD 163.01 billion in 2020 and is expected to grow to USD 823.75 billion by 2030. The Indian electric vehicle market was estimated to be worth USD 7,025.56 million in 2021, and by 2027, it is anticipated to have grown to be worth USD 30,414.83 million, registering a CAGR of 28.93% in terms of revenue.

The e-mobility ecosystem is significantly impacted by many factors, including challenges, innovation, battery technology, and adoption, which are all being brought up at this conclave by business leaders and policymakers. The experts on the panel hoped that the government of India, policymakers, and the auto industry would adopt a more modern strategy that would benefit consumers and have a significant impact on India’s economy.