The Taiwan External Trade Development Council (TAITRA, 外貿協會) said it plans to play matchmaker between local electric vehicle (EV) component suppliers and India’s leading EV companies in response to the Indian government’s goal of selling only electric vehicles from 2030.
“The next two years is a golden opportunity for Taiwanese firms to tap into India’s EV market, as that nation is at the early stages of developing the industry,” TAITRA chairman James Huang (黃志芳) told a media briefing in Taipei.
“It will be too late for us to join if we miss the first two years,” Huang said after returning from a six-day visit to India last week.
Photo: CNA
The Indian government in April initiated its “national electric mobility mission plan,” which targets annual sales of between 6 million and 7 million electric or hybrid vehicles by 2020 from 400,000 currently.
Huang said he met with Hero Eco Ltd chief executive officer Sohinder Gill, who is also director of corporate affairs at the Society of Manufacturers of Electric Vehicles.
The Indian government plans to broaden the supply chains for two-, three- and four-wheeled electric vehicles from this year to 2019 to boost manufacturing capacity, which is an opportunity for Taiwanese firms to enter the supply chains, Huang said.
TAITRA has begun seeking local auto component suppliers interested in expanding their footprint in India and will send a delegation to India’s EV companies to seek collaboration opportunities, he said.
TAITRA might also invite Indian EV companies to visit Taiwanese firms, he said.
Huang said he also visited Hero Motor Corp, the parent company of Hero Eco, and Mahindra & Mahindra Ltd during his trip.
The two companies’ annual sourcing budgets are US$3 billion and US$7 billion respectively, he said.
Hero Motor is looking for suppliers of robotic arms, and fuel injection and battery management systems, while Mahindra & Mahindra is seeking automotive composite materials suppliers, Huang said.
“The demand they provide is an opportunity for Taiwanese companies to enter the Indian market,” Huang said.
Huang said that he plans to lead delegations to large Indian companies in different industries every two months for the rest of the year.
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