India is looking to aggressively promote electric mobility as one of the drivers of emission carbon reductions and reduce its dependency on oil imports, in line with the latest report published by the India think-tank, Niti Aayog. The report details a "leapfrog" opportunity that may allow India to save as much as 1 gigatonne of carbon emissions between 2017 and 2030, and approximately US$60 billion in annual diesel and petrol costs in 2030. It also recommends offering fiscal incentives to EV manufacturers and discouraging privately-owned petrol- and diesel-fuelled vehicles.
New Mobility Paradigm
source: RMI- Rocky Mountain Institute
The EV market in India is at a nascent stage but has a promising potential future. Companies that are investing right now, will surely be able to get the first-movers advantage. There is a risk of not being able to get it right in the first go itself, however, that should not be a deterrent. The primary reason for that is the EV market in India will be very different from that in the West. Indian road, temperature and driving style all rolled into one, will make it a unique market in itself where apart from the technology, the implementation of the solution itself will play a big role. Also, target market of mass transportation in India is larger than in the West.
Source : https://www.nicci.no/wp-content/uploads/2018/01/India-EV-Story-NICCI-IN.pdf (p. 33)
So, what India needs right now is a leader, a technology and solution provider who has the technology and is willing to deploy it. The disruption in this space is evident however, what is currently required is who is going to be the disruptor? Panitek understands this critical juncture that India stands at and is in touch with leading government institutes and OEMs. Panitek wants to partner with someone who has the right technology solutions to help solve the electric mobility challenges being currently faced.