The 21st EV Expo 2024 began with the 8th Catalyst Conference on EV Industry Sustainability at Pragati Maidan, New Delhi. The event, organized in partnership with the International Center for Automotive Technology (ICAT), brought together industry leaders, regulatory authorities and entrepreneurs to discuss the future of electric mobility.
Honorable Minister of Road Transport and Highways Shri Nitin Gadkari inaugurated the conference through video link from Nagpur. In his address, he highlighted India’s commitment to reducing pollution and curbing its ₹22 lakh crore annual fossil fuel import bill. He reaffirmed the government’s focus on converting mass transportation systems to electric vehicles and achieving carbon neutrality by 2070.
Highlights of Shri Gadkari’s address:
Market Growth: In 2023-24, India registered 30 lakh EVs, leading to a 45% growth in sales with a market penetration of 6.4%. Notably, 56% of total two-wheeler sales were electric, driven by over 400 startups in the EV sector. Future projections: By 2030, the Indian EV market is expected to reach ₹20 lakh crore, creating 5 crore jobs. Hybrids and EVs are estimated to account for 8% of the market by 2028, with the EV finance market size estimated at ₹4 lakh crore. Lithium reserves: India’s 6 million tonnes of lithium reserves in Jammu and Kashmir represent 6% of the global stock, enough to support the production of 60 crore EVs. Efforts are underway to accelerate the utilization of these reserves. Cost Reduction: The lifecycle cost of lithium-ion batteries is currently $115 per kilowatt-hour, which is expected to fall below $100 within six months. Recycling Opportunities: Lithium-ion battery recycling market is estimated to reach ₹50,000 crore by 2030. Potential to become a world leader in EVs: Shri Gadkari urged industry leaders to seize the opportunity to increase production tenfold and establish India as a global leader. EV market. He emphasized that the Indian EV industry must compete effectively with countries like China by leveraging superior technology and uncompromising quality standards. He underlined the importance of proven technology, economic feasibility, availability of raw materials and marketability as key principles of success.
He concluded by envisioning India’s automobile industry becoming the world’s largest within five years with significant contribution from the EV sector.
Industry Participation and Panel Discussions:
Prominent attendees included Shri Saurabh Dalela, Director, ICAT; Shri Balraj Bhanot, former Chairman of TED Committee, BIS; Mr. Yashpal Sachar, Vice President of Corporate Affairs at Ashok Leyland; Shri Anuj Sharma, President of Electric Vehicle Federation; And Mr. Rajeev Arora, Organizer of EV Expo. The conference featured several panel discussions on the sustainability and future of the EV industry.
Highlights of the Exhibition:
Celebrating a decade of success, the 21st EV Expo 2024 will run from December 20-22 at Hall No. 1 & 2 of Pragati Maidan. The event showcases cutting-edge innovations, industry collaborations and evolving technologies with the participation of approximately 200 exhibitors from India and abroad. The expo serves as a platform for entrepreneurs, startups, industry leaders and EV enthusiasts to engage in transformative discussions shaping the future of mobility.
Supporting Organization:
The 21st EV Expo 2024 is supported by:
Ministry of Road Transport and Highways, Government of India Pradhan Mantri Kaushal Vikas Yojana (PMKVY) Micro, Small and Medium Enterprises (MSME) International Center for Automotive Technology (ICAT)
, the event gathered industry leaders, regulators, and entrepreneurs to discuss the future of electric mobility.){kind=link}