Reasons why Brands could Focus on Energy Business for Generating Revenues
India is now a hub for different lucrative and unique business ideas. Entrepreneurs and franchisors are constantly innovating with old and orthodox business ideas in order to provide something new to both the industry and customers.
Meanwhile, the rapidly flourishing Indian economy is playing a huge role in evolving the complete Indian business ecosystem. Similar is the scenario with the Indian mobility industry that has emerged as one of the most profitable business segments currently present in the nation.
Brands to Tap the Energy-related Businesses in India
Profitable and potential are the two words that could represent the current scenario of the Indian business industry. With the industry expected to be profitable for investors with right business plans and strategies, it might be the right time to invest in the Indian business industry, establishing a business of own.
Technology major player, Panasonic India recently announced that the firm will be eyeing to generate Rs 700 crore in revenue from the energy businesses existing in India. In order to achieve this feat, Panasonic India has divided its energy space business into two parts namely – mobility solutions and energy storage.
Opportunities in the Electric Vehicle Segment
According to P&S Intelligence, the Indian electric car industry is expected to cross $707.4 million by 2025. With gas and fuel prices rising rapidly, the demand and requirement for electric vehicles on Indian roads have also increased with time.
Further, the market is hugely being driven by government schemes, eco-friendly concerns, and falling battery prices that will eventually boom this sector in the near future. In fact, Panasonic recently introduced its smart electric vehicle charging service, ‘Nymbus’, for tapping opportunities hidden in the mobility sector.
Manish Sharma, President & CEO - Panasonic, says, “This is a very important segment for us. Overall, from all our energy-related business by 2021, we are looking at revenue of Rs 700 crore."
The market opportunity would be around Rs 5,000 crore by then. This would include battery energy and electric charging business."
Nymbus is a charging service that combines charging stations, swap stations, onboard charges, telematics system and the virtual components like cloud service, analytics, intuitive dashboard, and artificial intelligence,” Sharma further added.
Expanding the Charging Service Station Pan India
Providing business services Pan India is a common dream for almost every entrepreneur and franchisor. It is well said that a brand’s expansion plan and presence clearly depicts the success or failure of a brand. This is why investors usually conduct deep research before initiating with their expansion plans.
Panasonic’s Nymbus has already been introduced in the Delhi NCR region, which is available for two and three-wheelers only. Though, the brand has plans ready in order to expand the charging solutions for other vehicles as well, targeting 7-8 cities in the next three years.
Atul Arya, Head, Panasonic India Energy Systems Division says, “We have currently deployed our solutions in Delhi NCR. We aim to expand to 25 cities in the next five years targeting approximately one million vehicles.”