Oxford India Forum: Sunjay Kapur on future of EVs and biggest challenges
During a panel discussion, Kapur highlighted the Indian government’s significant investment in electrification and new technologies through production-linked incentive schemes.
Sunjay Kapur, chairman of Sona Comstar, discussed the future of electric vehicles (EVs) at the Oxford India Forum, highlighting that the global shift towards EVs is inevitable despite ongoing debates about their environmental impact.
During a panel discussion moderated by Sandiip Bhammer, Founder & Co-Managing Partner of Green Frontier Capital, Sunjay Kapur highlighted the Indian government’s significant investment in electrification and new technologies through production-linked incentive schemes.
“The government is putting a lot of money behind electrification and new technologies,” he noted. Kapur added that India aims for 70% of all commercial vehicles to be EVs.
Kapur highlighted the importance of not just manufacturing but also designing in India. “There’s a lot of push for making in India, but design in India is equally important. The supply chain needs to adopt new technologies across the board,” he said.
However, Kapur pointed out that infrastructure remains a major challenge for large-scale EV adoption.
“While two-wheelers, three-wheelers, and buses are going electric, infrastructure and energy supply are significant hurdles,” he explained. He acknowledged India’s position as the third-largest producer of renewable energy but noted the country’s reliance on energy imports.
To address these issues, Kapur called for more investments in green energy.
“Investing in greener energy is crucial and needs to continue,” he said.
He also highlighted the importance of technology awareness, charging infrastructure, and addressing semiconductor chip shortages.
Kapur expressed concern over the lack of private investment in manufacturing technology in India.
“The private sector is lagging in investment technology. In the auto component industry, the average investment is just 0.5% of revenue,” he revealed. “Investment in technology is extremely important,” he added.
When asked about the most exciting opportunity in the mobility and sustainability space, Kapur pointed to the transformative potential of AI.
“AI is revolutionising not just products but also manufacturing processes. We’ve adopted many AI tools in our manufacturing, which is transformative,” he said.
Climate scientist Myles Allen, also part of the discussion, shared insights on the transition to electric mobility and its impact on climate change.
“The transition will likely take longer than we hope,” Allen remarked.
When asked if the transition to electrical mobility will be possible without the involvement of China, he said, “We need to, you know, not take anything off the table, keep it flexible. The more flexible the global economy is, the cheaper the transition will be and the easier it will be to bring everybody along with it.”
“Whereas if we’re sort of overly Draconian and saying this is the only solution we’re going to accept, then of course, if there’s any pressure on that particular solution pathway, then the entire transition is put at risk,” he added.
The Oxford India Forum aspires to be a key player in shaping discussions about India’s global impact, establishing itself as an essential platform for highlighting India’s contributions to the world.
Founder and Chairperson Sidharth Sethi emphasised the forum’s mission, stating, “The Oxford India Forum is dedicated to showcasing India’s dynamic growth story and fostering meaningful dialogue among global leaders, experts, and aspiring students.”