The Indian automotive industry is going through a transformational shift which will define the next decade - the move towards electrification. It is once in decades’ kind of an event that has greatly impacted and reshaped the entire automotive industry, not just in India but globally. The same shift that the technology sector witnessed with the smartphone revolution. The introduction of Android smartphones in 2008 disrupted the smartphone market, dethroning established players like Nokia and BlackBerry.
The automotive industry is witnessing a similar disruption, where established OEMs (original equipment manufacturers) are being challenged by new players, but who will take a lead ahead, the time will tell. This transformation is driven by multiple factors like the need for sustainable mobility and a cleaner air to breath for the generations to come.
Indian automobile market is dominated by internal combustion engine (ICE) vehicles and the rise of electric mobility has impacted the automakers complete production process and long-term strategies. Well, just producing Electric Vehicles (EVs) is not a difficult task for the OEMs as the technology has existed since decades. The challenge here is to create an entire ecosystem for sustainable mobility. The rise of EVs is forcing major automakers to rethink everything from battery technology to charging infrastructure. Established players like Tata Motors, Kia, Mahindra, and Hyundai are already rolling out EV models but the creating an ecosystem still remains a critical issue.
The shift to electric vehicles (EVs) will prove to be a game-changer for the automotive industry globally. This change will determine which companies emerge as leaders in the next decade and which one's struggle to keep up, similar to how Android smartphones reshaped the tech world.
