The automobile industry has witnessed significant performance improvements within the Internal Combustion Engine (ICE) space, primarily around efficiency, power and emission compliance. However, with governments across the globe increasingly focusing on reducing carbon footprint and pollution, auto manufacturers are relooking at their mobility powertrain strategy and migrating to cleaner technology, i.e., electric vehicles.
This is the right time for India’s automotive industry to display its resilience and capability on the global stage as well as embrace the challenges on account of understanding new technology and business strategies.
Grant Thornton-CII’s thought leadership Mobility through transition: Disruption and impact highlights how integrating transportation with electricity, developing the shared ecosystem platform, and scaling up the manufacturing are the key parts of India’s roadmap to have all electric vehicles on road by 2030. It further identifies three mega trends shaping the global automotive industry – powertrain migration from ICE to electric, evolution to Mobility as a Service (MaaS) and shared mobility and autonomous revolution.