‘India’s future lies in electric vehicles’, know what Mahindra Group MD Anish Shah said?
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Mahindra Group MD & CEO of Anish Shah It is said that due to suitable incentives in India, the electric vehicle market will grow rapidly. Describing the hybrid model as a temporary solution, he said that his company’s entire focus is on pure technology. Is on electric vehicles.
Why are hybrid vehicles not effective?
Shah, speaking to Rahul Kanwal, executive director, Business Today, and Siddharth Zarbi, managing editor, Business Today TV, at the World Economic Forum (WEF) 2024 said, “If you look at other countries in the world, hybrid vehicles have become a big trend for corporates in the 2000s. Average Fuel Efficiency (CAFE) norms. None of those countries offered incentives for hybrids, as it is essentially a temporary solution.”
He further said, “There are two powertrains in a car – the electric powertrain and the combustion engine powertrain. This is not an efficient solution. So why does it work? Because you need to build strong EV infrastructure, not charging stations.”
Mahindra will put full emphasis on EV
Shah told that Mahindra & Mahindra had chosen an option two years ago. “Our option was to bring in some hybrids and some EVs, but we made the choice that that wouldn’t work because you need to emphasize EVs, deliver a large number of electric vehicles that create a charging infrastructure, and create that future. Which is what we want. Because the future should be around electric, it will be a more efficient future.” He said hybrids are only up to 10% fuel efficient, but emissions are the same.
Future bright for EV market in India
When asked about the EV market in India, Shah said that Mahindra is developing five new SUVs, which will be attractive. “This will be a game changer. Once it comes, you will start paying more attention to infrastructure because to have cars on the road, you have to have the infrastructure there,” he said.
He also said that the company wants to make about 30% of production EV in the next three years and one million EVs for India and the world by FY30. He further said, “We need to work with car manufacturers and regulators. There is a need, but I think it’s happening at the pace it should.”
Driverless cars are a distant thing
Asked about driverless cars, Shah said, “It’s a long way off. I would say India will definitely not be a leader in it. We will first see how others adopt it, and then we will look at it from the Indian perspective.” “The technology is there, but it’s not perfect yet. So I say, wait and see.”
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