India can leverage Korea’s battery expertise for EVs: Vipin Sondhi

South Korea is the eighth largest automotive market in the world and the fourth largest EV exporter in the world.

Vipin Sondhi

Speaking about Future Mobility & Battery Storage, Vipin Sondhi, Chairman, CII National Committee, said that the Indian industry can leverage and collaborate with South Korea’s battery expertise. He said this will help develop the electric vehicle market in India and the country can emerge as a leader for a large part of the world. 

Sondhi was speaking at the Korea-India EV Cooperation Forum, organised by the Korea Trade-Investment Promotion Agency (KOTRA) – a state-run trade promotion arm of the South Korean government, with the support of CII and invest India in New Delhi today.

The event was attended by Chang Jae-Bok, Ambassador to India, the Embassy of the Republic of Korea, and top officials from NITI Ayog, Hyundai Motor India, Indian Institute of Technology (IIT)-New Delhi, Hero Motors, Tata Power, Magenta Power, and Convergence Energy Services (CESL).

The Chairman said, with a Comprehensive Economic Partnership Agreement (CEPA) in place, the two countries can grow bilaterally in trade. “The automobile industry of both countries can further technological tie-ups while being partners in handling changes that have become essential because of sustainability challenges.”  

Chang Jae-Bok highlighted the establishment of diplomatic relations in 1973 between South Korea and India, and how both countries have enjoyed cordial relations. It has helped develop economic, cultural and political relations seamlessly. “Today’s Korea-India EV Cooperation Forum will greatly contribute to the economic cooperation between the two countries because the automobile industry is in the middle of a transition from ICE-vehicles to electric vehicles and it means a lot when we discuss together over new, green form of automotive at this historical transition.”

At present, South Korea is the eighth largest automotive market in the world and the fourth largest EV exporter in the world. The country sells more than 100,000 vehicles domestically and exports 120,000 vehicles every year.

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