By Jyoti Bowen Nath
Similar to how humans, as living things, evolve through periods, technology is also perpetually undergoing evolution. We are engaged in ongoing research and development to make the greatest use of resources and adapt to changing needs in response to the availability of resources. Our generation is witness to various shifts and one of them is clearly the entire transition to EV. The dedicated research group advances and makes the best use of resources while having little impact on the environment. Therefore, refiners in the third-largest country in Asia have accelerated their shift away from oil production as a result of the rapid growth of electric cars in India’s booming market. The demand for EVs is already ramping up, and more capital is being invested in building new roads and energy infrastructure. Possibly in some years, 1 out of every 4 -5 cars is going to be an EV if we go by reported statistics.
In the upcoming period, it has been reported that production of two, three, and four-wheelers is growing exponentially. By keeping figures in mind, the companies that are entering this market seem to have a tremendous growth vision for the future. Companies like Tata Motors and Mahindra & Mahindra, international automakers like Kia and BYD, and the Volkswagen Group are coming up with manufacturing plants for EVs in India. Players including Adani, Mahindra, Hero Electric, Panasonic, Exide Batteries, and Amara Raja have shown interest in the lithium battery production industry in India. Other participants include Suzuki, Toshiba, Denso Corp., JSW Group, Adani, Mahindra, and Suzuki.
Due to the growing demand for EVs in India and the high investment in manufacturing plants and producing machinery, hiring is also in demand. There has been a discernible boost in hiring at manufacturers as demand for EVs escalates. Moreover, there is a huge demand for talent with specialized skills, and some companies are looking to get talent from outside India.
There is always a demand for competent individuals needed to operate any business and push it to new heights. As a result, filling senior leadership positions will help firms develop revenue while also bringing competence and the expertise needed to run and manage the team strategically. Because businesses are still ecstatic about their electric vehicle (EV) plans, the stakes have increased in terms of top-level hiring. Over the next two to three years, the EV business is expected to hire more people in both of its verticals at a rate of over 30 %. The main goal is to design, develop, and produce electric vehicles in India, which means companies may need to look for expertise across a variety of disciplines. To build world-class EV technology in India for the benefit of the entire globe, organizations are always trying to upskill their workforce and/or recruit fresh expertise, including getting expat talent.
To accomplish the design, development, and production of EVs in India, businesses must seek talent across a variety of peripheral functions. Companies including Tesla, Ola Electric, Mahindra, and TVS Motor have made some key top-level hires during the past few months in line with their business strategies. The top organizations in the EV manufacturing space have already hired Head of Supercharging Business, Head of Vehicle Design, Head of Manufacturing and Operations, Chief Operating Officers etc. apart from functional leaders like Head of HR, Head of Sales, Head of Policies and Business Development etc.
The leading players expect to hire people with experience in software development, manufacturing, supply chain management, IOTA, battery management systems, EV design, charging infrastructure, and service mechanics. While some of these would be roles at the front-level, there will be a significant need at the top level to provide strategic directions for the operations and for business growth.
The popularity of EVs has also increased in the logistics space, where they are helping to decarbonize last-mile delivery. Moreover, government policies and subsidies have given a significant boost to EV sales in the logistics space. India is certainly in a sweet spot as far as EVs are concerned, and frankly, the sector is growing by leaps and bounds. The adoption of EVs by Indian car buyers has been greater than expected, and very soon it is going to be more of a supply issue than a demand issue—so fast is this growth!
(Jyoti Bowen Nath is Managing Partner at Claricent Partners. Views expressed are author’s own.)