White Paper On EV Industry Unveiled at 131st National Franchise & Retail Opportunity Expo
Franchise India, a leading platform for franchise and business opportunities, successfully hosted a ground breaking event centred on India & electric vehicle (EV) sector, emphasizing the escalating significance of electric mobility in the nation.
The event held on May 20-21 at Chennai Trade Centre, revealed the rapid transition from conventional internal combustion engine (ICE) vehicles to electric vehicles, heralding a cleaner and healthier environment. Beyond environmental benefits, the widespread adoption of EVs also unlocks fresh business prospects and industries.
Delving deep into the EV sector & its potential, Franchise India in association with the Grant Thornton released a comprehensive white paper titled & Evolution of the electric vehicle industry in South India. This white paper aims to enhance comprehension of the EV sector, pinpoint solutions, and identify opportunities that pave the way for a future of seamless and secure mobility. It stands as a testament to India’s progressive climate policies and its capacity to emerge as a prominent global hub for clean manufacturing, particularly as the country assumes the G20 presidency.
Recognizing the urgent need to curb carbon emissions and combat climate change, the Indian government has established ambitious goals to promote the adoption of EVs. As the world’s third-largest automobile market, India possesses immense potential to shift its demand towards greener alternatives by fostering collaboration between manufacturers and policymakers.
The southern states of India, with their well-defined EV policies, robust manufacturing capabilities, and focus on research and development, are positioned for unprecedented growth within the EV sector. This region is expected to make significant contributions to the government's 2030 EV goals and play a vital role in establishing India as a global hub in the electric vehicle space.
The event featured industry experts and thought leaders who shared invaluable insights and engaged in discussions on various EV adoption-related topics. The agenda encompassed sessions focused on strengthening EV sales and adoption, innovating charging infrastructure, identifying investment opportunities in the EV sector, enhancing affordability of EVs for all, facilitating consumer financing, promoting the commercial use of electric trucks and buses, exploring in battery technology, assessing OEMs response to the evolving landscape, and propelling smart mobility in intelligent cities.
“We are thrilled to have organized this event and unveiled our white paper on India’s electric vehicle sector. The enthusiastic response and active participation from diverse stakeholders underscore the industry’s commitment to propelling the growth of electric mobility in India. We firmly believe that this event will make a substantial contribution to our shared goal of a sustainable and greener future,” stated Gaurav Marya, Chairman, Franchise India Holdings Pvt Ltd.
Sponsored by Lucas TVS, Helios and Zimetrics, the event attracted significant participation from government officials, industry leaders, investors, entrepreneurs, and other stakeholders in the EV sector, It provided a conducive platform for networking, knowledge exchange, and collaboration, fostering an environment conducive to the growth of India’s EV ecosystem.
At the same time, the event also saw companies other than electric vehicles converging for franchising and business opportunities made available there. Delegates and visitors from sector as diverse as auto, food and beverages, retailing and cyber technology came together on a platform provided by Franchise India to explore, grab and take away the most emerging, lucrative and successful franchising business opportunities.
Franchise India remains steadfast in its dedication to support and promote initiatives that fuel the advancement of the EV sector in India. The success of this event further solidifies its position as a leading platform for fostering innovation, collaboration, and investment within the country’s electric vehicle industry.
India’s transition towards green mobility is gaining momentum, supported by government intervention, heightened investor interest, and new business models that leverage the latest technology. This collective effort aims to build a healthy ecosystem for electric vehicles in India and is expected to attract more investments from private and state-owned companies, contributing to the creation of an estimated 10 million direct jobs and 50 million indirect jobs within the automotive sector by 2030.