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Bengaluru: Electric vehicle tech revolution is catching up in Bengaluru as the city is already a hub of many topline automobile engineering R&D (ER&D) centres and new-age companies that are helping in the mobility space with their solutions and business ideas.

Participating in a panel discussion on “Electric Vehicles and Ecosystem – Opportunities for Entrepreneurs’ at the Bengaluru Tech Summit 2021 here on Friday, Meher Energy Ventures Pvt Ltd CEO Mustafa Wajid said companies like Ola Electric, Lithium, SunMobility and various automotive component manufacturing companies are taking advantage of Information technology hub Bengaluru.

“It is a reality that Bengaluru has the potential to become the future hub of electric vehicles in India with a market size of $100 billion in the country. There is a need for the transport sector in the country to go green and become robust,” said Meher Energy Ventures Pvt Ltd CEO Mustafa Wajid.

He said India should grab this opportunity to embrace this technology as he said barring China in the globalized era the environment is conducive for the introduction of electric vehicles for public use.

Mustafa Wajid said electric vehicles have become the natural choice of vehicle users and in the future scheme of things to come. He said India is lacking in the hardware technology that is required to make electric vehicles adding that government should accord importance to solving this issue on the lines of the environment-friendly hydrogen policy announced by the Centre.

He also felt that hydrogen could be produced on the country’s east coast using the technology for use in electric vehicles and then exported to south-east Asian countries.

Bounce CEO and cofounder Vivekananda Hallekere said in the next few years India will see 20 million electric vehicles on the Indian roads as consumers’ tastes and preferences are likely to change to embrace the new technology vehicles.

Speaking at the panel discussion, Chara Technologies Founder and CEO Bhakta Keshavachar said there are flaws in India’s electric vehicle system.

“There is a need to bring about reforms in the energy sector lest we become dependent and continue to patronize Chinese manufactured vehicles which is dangerous,” Chara Technologies Founder and CEO Bhakta Keshavachar.

Exponent Energy Cofounder Arun Vinayak said charging electric vehicles has become cumbersome as there is no solid infrastructure in the country.

“Charging points should be installed at all the parking lots in city areas so that charging of vehicles becomes easier just like one goes for a petrol refill to a station. We all know some countries are making a busness model in this charging. We are yet to do as Indians prefer fuel with less cost and current they want with subsidy,” said Exponent Energy Cofounder Arun Vinayak.

Ather Energy Cofounder and CEO Tarun Mehta also participated in the panel discussion. Zolve Founder and TaxiForSure Cofounder Raghunandan G moderated the session.

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