BENGALURU: India has huge opportunities in research and development, hydrogen and alternative fuel technologies as the world moves towards a more sustainable future, said speakers at the first EV Summit for the calendar year by Bangalore Chamber of Industry and Commerce (BCIC) held here on Monday.
They highlighted the fact that India is staring at a huge opportunity as the world transitions into alternative fuel technologies focusing on digitization, automation and net zero emissions.
Kamal Bali, MD of Volvo Group India, said, “We are entering an era of accelerated innovation where the partnership is the new leadership as we make the transition from Internal Combustion Engine (ICE) vehicles to EV mobility”.
“The spotlight on India is like never before. An increasing number of international companies are looking at India not only for cost competitiveness, but also competence, capability, and trust,” Bali added.
Gnanendra Kumar, Additional Commissioner of Transport, Government of Karnataka, said, “The 21st Century is the era of electric vehicles due to global warming and climate change. Studies show that around 40 per cent of environmental pollution is due to motor vehicles”.
He said that statistics show a drastic increase in the registration of electric vehicles in Karnataka with 1.93 lakh electric vehicles being registered, mostly in Bengaluru.
OLX study findings
A new research report released by OLX, an online marketplace, has shown that 71 per cent of interviewed people who bought a secondhand car, switched to a car with lower emissions per driven kilometre, resulting in a 14 per cent reduction of combustion emissions per kilometre, on average.
The study surveyed consumers in four metro areas of India, and the majority of users traded in vehicles with improved fuel efficiency, with 68 per cent of respondents switching their vehicle to one with improved fuel efficiency.
“We believe that secondhand car trade can help improve a car fleet’s average fuel efficiency through faster adoption of newer cars with high fuel economy,” said Amit Kumar, CEO, OLX.
The report demonstrates the significant potential for the secondhand car trade to contribute towards a more sustainable economy in India and highlights the importance of encouraging the adoption of more fuel-efficient vehicles to reduce carbon emissions.