“The idea of putting up an R&D centre in Germany is not only to service CIT (Center of Innovation and Technology) here, but is also meant to service the western markets…Western markets are hungry for EVs, not the developing countries,” Munjal said.
Niti Aayog’s CEO Amitabh Kant recently said that Indian electric mobility is the next big opportunity in the Indian market. Kant added that with the cost of batteries coming down in the near future, battery storage technology will also emerge as a lucrative sector in India in the next five years.
“We are already seeing a lot of growth in these areas. The future will be all about shared, connected and clean mobility,” said Kant.