New Delhi-based powertrain player, Tsuyo Manufacturing in an exclusive interaction with Express Mobility talks about the formative stage of EVs – an emerging industry segment and discusses the various perspectives.
Currently, the Indian EV industry promises to be a $7.5 billion market and by 2027, the same may grow to $30 billion in size.
“India is in the formative stage of growth and needs to go through other stages. So, it is a long way to go and many initiatives can be seen around from different stakeholders towards faster adoption of EVs,” said Vijay Kumar, Co-Founder, Tsuyo Manufacturing.
He pointed out that initially, there is always a phase of making errors and correcting them and as an industry, there are 8 key stakeholders and primary areas of focus that need to be aligned together. These include
- End Users -– awareness and adoption
- Vehicle Manufacturers- genuine build with required safety and compliances
- Suppliers – phase-wise component development and incentivise lower segment of suppliers to build an ecosystem
- Policymakers- EV guidelines, incentives, awareness and Infra implementation
- Financing- scheme and funding to support all category sales
- Skilled Resources- Skilled manpower in different functions
- R&D – Constant innovation and new technologies
- News & Media- Awareness, information exchange
“At present, there is a huge gap and a lot there to make over with expectations from each of the stakeholders,” he added.
Talking about what role Tsuyo is playing in bolstering the EV ecosystem, Vijay explained, “Tsuyo is extending the comfort for local indigenous design and manufacturing solution which is open for any kind of customisation, sales and service support which in turn cuts down the underlying apprehension of end users on the road when using Tsuyo motors and drives as any road assistance and other uncertain problems can be immediately looked into.”
“Beyond this, Tsuyo provides extensive offerings and flexibility to many start-up OEMs to ready vehicle specific desired platform of powertrain locally and cut-down their development lead time and 360-degree support in terms of vehicle proofing and a local help for ARAI/ICAT approval of their vehicles and quick changeover of specification and other, Vijay added.
As per recent studies, the in-wheel motor segment will have significant market share growth between 2021-2026. The demand for electric vehicles for in-city use is increasing. This is expected to boost the demand for in-wheel motors.
According to Vijay, the policies are slowly becoming more supportive. However, EV components based manufacturing start-ups to design incentives, packages and other support structures to exercise much needs ground level ecosystem boost “as currently the dependency on Chinese cheaper imports can’t be overlooked and replaced all of sudden. Moreover, this is a real need and supply chain ecosystem level gap which needs to be managed urgently,” he added.
On the Industry-academia front, the Delhi-based start-up is involved with educational institutions and executes many projects with universities like NITs, NIAMT and IITs which also helps in curating new skilled ready resources for EV industries and also plans to sponsor new future projects with proactive involvement in the R&D.
The company claims its major customers in the automotive industry include Okaya, Goenka Electric, Dili Auto, MT Auto, Oben EV, MAHLE, Jaidka Power, Zen Mobility and Baxy group.