India has the requisite facilities and world-class talent to build technologies and requisite facilities to design and build a motorcycle that matches and exceeds global benchmarks and that can set global standards. Ultraviolette has proven that an electric vehicle can offer as much, if not more, range comparable to an IC motorcycle with a full tank of petrol while maintaining price parity at a product level and significant cost savings through the cost of ownership. We look forward to other OEMs developing their technologies and building products for the world markets. Fostering growth and innovation through a long-term, consistent, and industry-focused policy landscape will be key to achieving this goal, Narayan Subramaniam, CEO and co-founder, Ultraviolette, told ETAuto in an interview.
CEO s Take On 2024: “With the high rate of GDP growth and the widespread economic development across the country through digitisation, the growth of the evolved Indian consumer will continue in 2024. Continuation of growth-friendly policies will have a positive impact on 2024. I definitely see a good growth in the e-charging infrastructure and this will further spur the adoption of EVs. By 2030 India is scheduled to be a hot destination for investment in the automotive sector as well as an important hub for consumption,” Jyoti Malhotra, Managing Director, Volvo Car India told ET Auto.
CEO s Take On 2024: By 2030, India s automotive sector could be amongst the most advanced in the world due to the significant changes it is undergoing now. This will materialise with industry-friendly policies, customer demand for sustainable vehicles with alternative fuels, adoption of smarter technologies and features like ADAS, and the country’s ER&D and software prowess. "I firmly believe that, in contrast to previous years, the current decade will bring about significant changes for both the domestic and global automotive industries," Anshuman Singhania, Managing Director, JK Tyre & Industries Limited, told ETAuto.
With the rising middle class, consumption will get a boost. The overall GDP growth forecast of over 7%, continued policy support for infrastructure investments and electrification, a strong business case to replace old vehicles with vehicles conforming to BS-VI emission standards and designed for revised axle loads and focus on logistics efficiency are likely to drive the auto sector in 2024, Vinod Aggarwal, MD & CEO, VECV, told ETAuto .
CEO s Take 2024: With its huge population and the emergence of the young, neo-rich entrepreneurs, the luxury car OEMs find great potential for their expensive products in India. Sales of luxury cars, both ICE and EV, have been on the rise and they are set to soar. “Apart from traditionally wealthy families, a new group of achievers has fast emerged in India with a global outlook. They are well-travelled and have an eye on luxury products. Young entrepreneurs and leaders are actively shaping demand for the luxury car market in Tier II and Tier III cities. With the rise in disposable income, they are not hesitant to spend on luxury products and services”, Vikram Pawah, told ETAuto in the CEO’s Take 2024.