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India has Got a Long Way to Go in Terms of Automotive Industry: Sundram Fasteners
Pubdate:2017-12-12   Source:Money Control  

Speaking about EV, Suresh Krishna, CMD of Sundram Fasteners said that by 2030 only 8 percent of the vehicles produced in the world will be electric. The inflection point will come in 2040 when it is expected that about 30-40 percent of the vehicles produced in the world will be electric.

In a rare TV appearance, Suresh Krishna, CMD of Sundram Fasteners tells CNBC-TV18 that the best for the auto industry is yet to come and stresses that push for electric vehicle (EV) infrastructure is the need of the hour.

India is just starting to exert itself in terms of automotive industry. We have got a long way to go. We are in the right position, right country, he said.

Speaking about EV, he said that by 2030 only 8 percent of the vehicles produced in the world will be electric. The inflection point will come in 2040 when it is expected that about 30-40 percent of the vehicles produced in the world will be electric.

Electric vehicles are here to stay. Just like cars replaced horse-drawn vehicles, EVs will replace IC engines, he added.

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