South India emerges as key contributor in achieving India's EV goals and global EV hub ambitions

India has emerged as the driving force of electric mobility in India and Tamil Nadu, in particular, is amongst the key driving states with the commitment of all support from State government in terms of attracting investment to facilitating industries and Start-Ups of the sector to flourish, Vishnu Venugopalan representing the Department of Industries, the government of Tamil Nadu said at the third edition of EV India 2023, Expo and conference.

This two-day event was organised by Franchise India at the Chennai Trade Centre (Chennai) on May 20-21, 2023. The third edition of the largest electric vehicle show witnessed participation of more than 500 delegates, 100 plus EV brands and innovators, and the presence of above 5,000 industry audience. 

Gen (Retd) VK Singh, Minister of State for Road Transport and Highways and Civil Aviation, Government of India said in his video message to the industry that the Union Government was committed to walk extra mile to reduce transport generated air pollution and it was encouraging all modes of alternative energy, primarily e-mobility. Talking about the growth of electric vehicles, Venugopalan said, "The government is committed to transitioning towards green mobility, supported by initiatives, increased investor interest, and innovative business models that incorporate the latest technology. The southern region of India, comprising five states, stands out as these states have well-defined EV policies, established manufacturing capabilities, and a strong focus on R&D. This region will make a significant contribution towards achieving the government's and NITI Aayog's 2030 EV goals, and positioning India as a global hub in the EV space.

As India holds the presidency of G20, the event provides a platform to showcase the nation's climate policies and potential as a global clean manufacturing hub. The Economic Survey 2023 predicts that India's domestic electric vehicle market will see a 49 percent compound annual growth rate (CAGR) between 2022 and 2030, with 10 million annual sales by 2030. Additionally, the electric vehicle
industry is projected to create around 50 million direct and indirect jobs by 2030.

The conference witnessed deliberation of crucial aspects related to increasing EV adoption in India, and the opportunities therein for various stakeholders. The discussions were on India's EV adoption, innovation in charging infra, investment opportunities in EV sector, making EV for everyone, opportunities and concerns, OEMs catching up with opportunities in electric mobility, new generation of battery technology, how electric vehicles can see faster commercial adoption, etc.

The experts at EV India 2023 pointed out that numerous franchising opportunities exist in EV market such as setting up and operating EV charging stations, retail outlets, or distribution centres for electric scooters and bicycles for short commutes, manufacturing or distributing EV components, setting up and operating battery swapping stations to cater to the growing number of EV owners, and converting conventional vehicles into electric ones.