Why Exhibit?
The ‘Auto EV India 2023’ is the place to meet a targeted clientele passionate about the EV industry. It is the perfect event to showcase new technologies and EV products.
South and West India is a major region for Electric Vehicle and EV suppliers manufacturing activities.
This is a great opportunity for the industry players to meet, communicate and sell their products to a highly engaged targeted audience.
The ‘Auto EV India 2023’ is the place to network with a variety of audiences in the electric mobility industry. Connect with more than 250+ suppliers and source the latest technology, product and services so you can get an up-close look at cutting-edge H/EV technology and learn about the latest market innovations from across the industry.
More than 250 exhibitors and 20,000 attendees are expected to attend the show.
- A perfect place to network
- A perfect event to showcase new technology in Electric Vehicle.
- A perfect place to showcase components and technology for the EV industry
- A perfect B2B Exhibition
EV Market Potential
CEEW-CEF study estimates a cumulative investment need of over $180 billion, Rs 12,50,000 crore, in vehicle production and charging infrastructure until 2030. EV technology evolution in India requires sizable investment in R&D and product development, both on the automobile platforms and battery/charging technology.
EV Market in India
The Indian automobile industry is the fifth largest in the world and is expected to become the third largest by 2030. As per India Energy Storage Alliance (IESA), the Indian EV industry is expected to expand at a CAGR of 36%. As population rises and demand for vehicles grows, dependence on conventional energy resources is not a sustainable option as India imports close to 80% of its crude oil requirements. NITI Aayog aims to achieve EV sales penetration of 70% for all commercial cars, 30% for private cars, 40% for buses and 80% for two and three-wheelers by 2030. This is in line with the goal to achieve net zero carbon emission by 2070. Over the last three years, 0.52 million EVs were registered in India, according to the Ministry of Heavy Industries. EVs recorded robust growth in 2021, supported by the implementation of favourable policies and programmes by the government.
Key Policy Initiatives – Growth Levers
The Government of India has always been at the forefront of framing policies related to EV adoption in the country. Few of the programmes launched by the government to increase EV adoption are shown below:
Business Opportunities
The EV push in India opens a plethora of business opportunities across three key segments – mobility, infrastructure and energy. These include opportunities in EV franchising, EV OEM market, battery infrastructure, solar vehicle charging and battery swapping technology among several others. According to NITI Aayog, the complete transition to EVs requires a total investment of US$ 267 billion (Rs.19.7 lakh crore) in EVs, battery infrastructure and charging infrastructure.
According to the Ministry of Skill Development and Entrepreneurship (MSDE), the EV industry could add 10 million direct jobs by 2030 which would create 50 million indirect jobs in the sector. Several automobile companies have plans to participate in the EV industry as listed below:
FAME India Scheme: Faster Adoption & Manufacturing of (Hybrid) Electric Vehicles (FAME) India was launched in 2015 for promoting growth and early adoption of hybrid and electric vehicles in the country. FAME-II scheme was launched in India with a budget outlay of US$ 1.3 billion (Rs. 10,000 crore) to support 1 million e-two-wheelers, 0.5 million e-three -wheelers, 55,000 e-passenger vehicles and 7,000 e-buses. The government extended the scheme until 2024, as announced in Union Budget 2022-23.
PLI Scheme: The government introduced Production Linked Incentive for Advanced Chemistry Cell Battery Storage (PLI-ACC) scheme. The scheme is expected to boost India’s battery infrastructure. As per the Union Budget, the total outlay for the scheme is US$ 2.45 billion (Rs 18,100 crore), which would be disbursed to beneficiaries over five years once the manufacturing facility is set up.
Battery Swapping Policy: A wide-spread charging infrastructure is essential for EV adoption. In this regard, on April 22, 2022, NITI Aayog released a draft battery swapping policy which will be valid until March 31, 2025. The policy will be implemented over a period of 1-2 years from the date of launch of the policy and will cover all metropolitan cities with a population greater than four million. The second phase will be implemented over 2-3 years from date of launch of the policy and will cover all UT’s and major cities with a population greater than 5,00,000.
Other Initiatives-
Tax exemption of up to Rs.1,50,000 (US$ 1,960) under section 80EEB of income tax while purchasing an EV (2W or 4W) on loan.
Reduction of customs duty on nickel ore (key component of lithium-ion battery) from 5% to 0%.
State- wise reduction of road tax and other incentives.
EV components such as batteries (60% of EV component revenue by fiscal 2027), drivetrains (15%), electronics (15%) and others (10%) present an opportunity for auto component makers to diversify their revenue base beyond ICE vehicles.
According to a report by Crisil, the EV share in auto components is likely to reach 9-11 per cent by fiscal 2027 from the present 1 per cent. This at a compound annual growth rate of around 76 per cent will touch Rs 72,500 crore in fiscal 2027 from Rs 4,300 crore last fiscal. The electric vehicle segment provides both an opportunity and a challenge for the Indian component industry. On one hand, there is the challenge of many traditional IC-vehicle parts to become obsolete in the EV space, but on the other hand, new product demand could fuel growth for the nascent industry.
Growth Drivers of Indian Electric Vehicle Industry
- The burden of oil imports, rising pollution, Russia-Ukraine war escalating price inflation, as well as international commitments to combat global climate change are key factors motivating India’s policies to speed up the transition to e-mobility on one hand and growing consumer appetite on the other.
- The cost of EV batteries has been decreasing over the past decade.
- This has led to a decrease in the cost of electric vehicles as EV batteries are one of the most expensive parts of an electric vehicle.
- The prices of EV batteries are expected to fall which will greatly reduce the price of EV’s making.
- Favorable Government subsidies and policies to promote sales.
- Strict Government regulations on vehicle emission to boost growth.
