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India will have more electric vehicles than Europe by 2020 – New Motion

elelctric cars in india by 2020

European car charging solution provider, is planning to invest Rs 1,000 crores in India.

New Motion, a Dutch tech company specializing in charging solutions for electric vehicles, plans investments to the tune of INR 1,000 crores. While charging a car with a regular power socket can be carried out in 6 to 7 hours, this is possible in just 15-30 minutes via the New Motion smart chargers.

elelctric cars in india by 2020

With the electric vehicle industry set to increase by leaps and bounds, fast charging solutions are the need of the hour. It is for this reason that New Motion, one of largest smart charging companies in the world is planning to set up a manufacturing base in India while plans are afoot to make India the company’s global manufacturing hub.

New Motion expects that in Europe there could be about 3 million electric vehicles in the next five years, while there will be much more EVs in India by then. Setting up a manufacturing facility in India will not only bring down cost of charging but significantly reduce time of charging as well.

Mahindra Reva with ZooZoo

Ritsaart Montfrans, founder and CEO at New Motion draws attention to the fact that the government has been very supportive where building of electric vehicle ecosystem in India is concerned. However, experts feel that the government needs to offer more incentives to encourage more people to start using both electric two and four wheelers while there is an urgent need to also use electric vehicles for public transportation. However, this will require added investments to the tune of INR 13,000-14,000 crores over the next few years.

via Economic Times


About the author

Pearl Daniels

Pearl Daniels

Former freelance writer, Pearl Daniels is in the auto industry since 2011, having established herself as a widely read staff writer since 2013. Her keen eye for industry news, daily need to break down latest events, and quest to not miss a single launch detail, gives you the most refreshing morning news on weekdays.

Email - pearl@rushlane.com