Kumar sees Indian e-vehicles market size at $152.2bn by 2030
SEG Automotive of Stuttgart, Baden-Württemberg, says 2 wheelers for the European market will be powered by e-drives made in India.
“This ‘electrification made in India’ is highly relevant not just for the local market; for example, 2 wheelers for the European market will also be powered by e-drives made in India,” SEG Automotive Global CEO Ferdinando Sorrentino said on 10 Jan 2023.
Like global markets, India is also fast-tracking the adoption of electric vehicles through FAME and PLI schemes by the government, and the electric vehicle market size will reach US$152.2 billion by 2030, added Anil Kumar M R, President & Managing Director, SEG Automotive India.
‘SEG Automotive India has already built a strong presence in this fast-growing industry with light electric mobility solutions we developed in Bangalore in close collaboration with Germany, featuring both mid mount and hub mount solutions for electric two-wheeler and three-wheelers.
“We will now launch a HV portfolio for the emerging market momentum in India under the mission of ‘Atmanirbhar Bharat’. In this, we draw on our global technology and development competence to provide system solutions tailored to the local market. Our HV solutions will cover PC, LCV and CV segment with best-in-class efficiency and durability,” Kumar said.
“The Group has been the motor for our industry for over a century now, powering over 300 million vehicles on the road today.”
“Our key advantage is that we bundle immense e-machine and manufacturing competence and a global production network in an agile company,” elaborated Sorrentino.
“Now we are leveraging this unique combination of know-how and speed to help create the electrified future of mobility. In India and the global markets as much as 70% of cars will be hybrids or fully electric already in 2030.”
Market penetration of electric variants is already on the rise among different vehicle categories in India.
For example, the electric two-wheeler segment has grown from 0.5% market penetration in 2020 to 4.5% at end of 2022 and could scale beyond 30% in the next 5 years.
The electric three-wheeler (L5) segment had already reached a 6.8% penetration in the first two quarters of 2022 and can go beyond 40% over the next five years with consistency in policy and support incentives.
Light commercial vehicles with 1.5 to 3.5 tons are the next big growth area, as they are used for last mile delivery across many segments. Their current electrification share is at ~1% and expected to reach double digits by 2025.
“Now, with demand for high voltage solutions for various segments of higher load vehicles starting to gain traction in India, the global supplier is introducing its High Voltage (HV) series at Auto Expo 2023 – Components,” said the company.
This scalable e-machine platform will set standards in terms of smooth operation and efficiency, thus maximizing vehicle range.
SEG Automotive has displayed its innovative offerings for light electric vehicles, in addition to its HV product portfolio at the 16th edition of Auto Expo 2023 – Components show, held 12-15 Jan 2023 in New Delhi.
SEG Automotive is closely linked to the history of the automobile. Emerged from the BOSCH Starter Motors & Generators division in January 2018, the company stands for more than a century of innovations in its product sector: from the invention of the starter motor and generator to Start/Stop and mild hybridization. fiinews.com
