India: Laureti Automotive Corporation, a London-based company plans to drive an electric SUV- DionX, in India by 2021 as part to provide clean mobility solutions in the country. The company plan to invest USD 370 million to set up a manufacturing facility at Puducherry with an initial capacity of 10,000 vehicles per annum which could be scaled up to 20,000 units by 2023.
Laureti Automotive Corporation CEO Marcus Paleti said: “The DionX and its components will be manufactured and assembled at the facility which commence operations in the third quarter of 2021”. The company claims model have a range of 540 km on a single charge, would be launched simultaneously in European and Indian markets in 2021,.The model would be able to do 0-100 kmph in 5.4 seconds and would also have an advanced artificial intelligence integration for optimal performance and safety assist. The company also plans to bring in its patented charging systems including home chargers in coordination with the central and state governments in India to achieve a target of one lakh charging pointsnationwide.
According to BlueWeave Consulting, Electric vehicles (EVs) are the inevitable future of the automotive industry. Many manufacturers around the world are investing heavily for developing EVs, which are facilitated by a steady increase in prices for petroleum products, the need to reduce harmful emissions from cars, and development of energy storage technologies. The electric vehicle market in India is anticipated to create lucrative opportunities for electric vehicle manufacturers as well as for vehicle component manufacturers in the near future. The demand for the passenger electric vehicles is governed by increase in demand for fuel-efficient, high-performance, and low-emission vehicles.
Electric vehicles provide great potential to radically reduce local air pollution, greenhouse gas emissions, resulting climate change impacts, and oil use from the transport sector. The shift to electric vehicles from the conventional combustion engine vehicles will fetch a change in the overall ecosystem of Automobile industry. The company plans to bring patented charging facility including residential chargers which help India to overcome the scarcity of charging stations within major cities and expected to boost the growth of the India electric vehicles and infrastructure market over the forecasted period.
According to BlueWeave consulting’s recent published report, Titled-“India Electric Vehicles Market, By Propulsion, By Vehicle Type, By Component Type, By Region- Industry Analysis, Size, Share, Growth, Trends & forecast by 2018-2024,” India Electric Vehicle is projected to grow over a forecast period. The demand for electric vehicles is governed by an increase in demand for fuel-efficient, high-performance, and low-emission vehicles. In addition, the trend of reduction in vehicular emission due to stringent rules & regulations in several states and growth of public charging infrastructure in India are fuelling the market growth.
According to the recently published report by BlueWeave Consulting on “Global Electric Vehicle Charging Station Market, By Product Type, By Installation Type, By Suppliers Type, By Region- Industry Analysis, Size, Share, Growth, Trends & forecast by 2018-2025,” the global electric vehicle (EV) charging station market is expected to grow over a CAGR of 29% during 2018-2025 in terms of value. Government supporting and introducing new initiatives to drive the growth of Electric Vehicle and Eelectric Vehicle charging station industry is driving the growth of the market. In addition, the price of fuel is constantly increasing which is urging the people to look for better and other energy efficient alternative. Oil price will increase over the forecast period which will accelerate the market demand for electric vehicles and EVs charging stations. These factors are constantly accelerating the growth of the electric vehicle (EV) charging station market globally.
According to the recently published report by BlueWeave Consulting on “Global Electric Commercial Vehicles Market by Propulsion type (BEV, HEV, PHEV, FCEV), by Vehicle type (Bus, Truck, Van, Others), by Component (Motor, Battery, Others) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014-2024,”the Global Electric Commercial Vehicles market is expected to grow at a CAGR over 13.0% during the forecast period in terms of value. The market is expected to reach over USD149,316 Mn by 2024, supported by government subsidies and tax rebates for commercial electrical vehicles… Need for fuel-efficient and emission-free vehicles and the increasing demand for electric commercial vehicle such as electric truck in the logistics industry to minimize the additional liability of fuel expenses. Innovations in EV battery capacity, which will enable electric commercial vehicle to carry heavy loads over longer range, can create new revenue generation opportunities.