Pan IIT Alumni, Alumni Associations of IIT BHU Varanasi Addresses Its First EV Conclave
The global automotive industry is undergoing a paradigm shift, and the move toward electric vehicles is accelerating. India, one of the fast-growing markets for automobiles is also witnessing a huge demand for electric vehicles. Addressing the demand, challenges and opportunities in the engineering, manufacturing and adoption of EVs, Pan IIT Alumni and Alumni Associations of IIT (BHU) Varanasi bodies organised, today ‘The Future Series, the EV Ecosystem Conclave’ in Delhi. The event witnessed experts from the entire e-mobility ecosystem, academicians and policy-makers at one platform discussing the relevance of EVs, innovations, adoption and challenges in the auto sector.
“India is investing heavily in the e-mobility shift. With an ambitious target to transition from Internal Combustion Engine (ICE) vehicles to electric vehicles, India has a rather herculean task ahead of itself. The Indian automotive sector is undergoing a rapid and robust overhaul – to propel the nation towards a greener future with minimalistic dependence on fossil fuels. This Conclave brings together the industry's most influential minds who will share their insights and successes, discuss the challenges and opportunities of a sustainable future,” said Sanjeev Nikore, President, Alumni Associations of IIT (BHU) Varanasi.
The Indian automobile sector ranks fifth globally and is expected to rise to third by 2030. Currently, the EV industry in India is at a nascent stage, which has open opportunities for auto players to develop efficient EVs for Indian consumers. There are a total of 13, 92,265 EVs on Indian roads as on August 2022 (data by Ministry of Road Transport and Highways, India). By 2030, this will likely increase by 45-50 million EVs on the road.
“While the need for EVs is critical for a sustainable future there are many challenges – notably high cost of EVs and range anxiety among consumers due to slow pace of building the charging infrastructure. Also, there are challenges such as insufficient Service Stations, Skilled Manpower, less options as compared to ICE vehicles, and Battery manufacturing and cell testing at proper scale” said, Dr B K Panigrahi, Institute Chair Professor, Department of Electrical Engineering Head, Centre for Automotive Research and Tribology (CART), IIT Delhi.
With the global trends and evolution in the automotive industry, electric vehicles are becoming a boon. But there remain multiple challenges which restrict the Indian market from growing, and consumers are also ambivalent towards it. The experts in the conclave highlighted the utmost challenge – the cost of EVs.
“IoT and AI technological have significant presence in the electrical vehicles whether it is battery management system, regenerative braking or advanced driver assistance features. Going forward these are expected to play critical role in areas like predictive maintenance, creating real-time alerts for the users, and overall additions to vehicle and passenger safety,” said Sanjeev Malhotra, CEO, NASSCOM Center of Excellence - IoT & AI.
The lithium-ion battery plays a crucial role in EVs, it possesses almost half of the cost of EVs, resulting it to be expensive. Various panellists convey that importing the raw materials to develop lithium-ion batteries in India is one of the most significant factors in the high cost of EVs. Hence, it is essential to bring innovation in the battery, such as recycling lithium-ion batteries and extracting materials under expert guidance, which may further help reduce the cost of EVs.
Shomik Raj Mehndiratta, Practice Manager, Transport South Asia, The World Bank said, "Not only e-mobility is a viable and important element of India’s mobility system; India also has the potential to become a major player in e-mobility."
The Central and State governments are bringing newer policies and incentives for the auto industry, battery manufacturers, and start-ups. For instance, the Delhi government has exempted road tax for all EV owners; other states are also stepping up to introduce several policies. In addition, the conclave also brings geopolitical and socio-economic dynamics, forcing markets to develop a local EV ecosystem. As customer demand rises, all EV components will likely achieve economies of scale; hence they require a robust supply chain to enable production lines to deliver more efficiently.
