Startups seem to have caught the green mobility trend in India with more than 20 of them gearing up to showcase technology solutions at the upcoming Auto Expo— The Motor Show, said a top official of the Society of Indian Automobile Manufacturers (SIAM).
Notably, the number of startups participating in the upcoming event in January is higher than at the last edition.
SIAM’s Director General Rajesh Menon told Moneycontrol: “In the next edition we have over 20 startups showcasing greentech.”
In the last edition, 18 startups had participated in the event.
BLIVE, Corrit Electric, Devot Motors, Fujiyama Power Infra, Hexall Motors, Jupiter Electric Mobility and Matter Motorworks, among others, are expected to participate in the next edition.
Accordingly, Menon cited that startups had caught the trend of new-age mobility which uses green tech like electric and hybrid fuels.
“Green tech provides an opportunity to various startups to get associated in new-generation mobility,” he said. “Startups will bring in more competition and provide more choices to consumers.”
Besides Startups, he said green tech was high on the priority list of conventional vehicle manufacturers, who have started displaying a wide range of portfolios of green vehicles reducing the carbon footprint.
According to India Ratings & Research’s Associate Director, Corporates, Shruti Saboo, not only large corporate houses, but even startups have made heavy investments in green tech.
“Spaces where the required initial investments are on the lower side, or spaces which are more tech-enabled, are seeing a higher share of startups coming in,” she said.
“For instance, in electric two-wheeler space, three out of top 5 players are startups. However, areas which require higher investments, like solar and windmill are the areas seeing investments from bigger corporates.”
Menon said the next edition of the expo will enable the masses to understand the future of mobility as well as the new technologies being developed for the sector.
“Auto sector is going through a big transformation across the globe and India is no exception.”
“The entire auto industry is gearing up for new-age mobility which is electrified (both electric and hybrid), shared, connected. It is also diversifying into gaseous and biofuels.”
Apart from electric mobility solutions, the show will feature a new range of ‘Flex’ (flexible fuel) vehicles.
FFVs are a modified version of the current vehicles that can run both on pure gasoline and ethanol-blended petrol.
“We have an entire value chain of ethanol, including the sugar industry and OMCs (oil marketing companies) showing their product line-ups at the expo,” said Menon.
List of participating startups:
* BLIVE
* Corrit Electric Pvt Ltd
* Devot Motors Private Limited
* EVTRIC Motors Pvt Ltd.
* Fgev Mobility Pvt Ltd.
* Fujiyama Power Infra Private Limited
* Godavari Electric Motors Pvt Ltd.
* Gravton Motors Pvt Ltd
* Hexall Motors Pvt. Ltd.
* Jupiter Electric Mobility Pvt Ltd.
* Liger Mobility Pvt Ltd.
* LML Emotions Pvt Ltd.
* Matter Motorworks Pvt. Ltd.
* Motovolt Mobility Pvt Ltd.
* MTA E-Mobility Pvt. Ltd.
* Omega Seiki Pvt. Ltd.
* Pravaig Dynamics Pvt Ltd.
* Quantum Energy Ltd
* Sledgehammer Works Pvt Ltd.
* Tork Motors Pvt Ltd
* Ultraviolette Automotive Pvt Ltd.
* Vayve Mobiltiy Pvt Ltd.
* Wardwizard Innovation & Mobility Ltd
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