Bosch Group's Vision for Electric Vehicles and Hydrogen Technology in India
Key Ideas
- Guruprasad Mudlapur of Bosch Group India predicts a substantial increase in electric vehicles by 2030, with 20% of passenger cars and 70% of two-wheelers going electric.
- Bosch Limited is investing in hydrogen technology, expecting 10% of heavy commercial vehicles to be hydrogen-powered by 2030.
- The company is collaborating with Bosch Germany to develop hydrogen engine technology for the Indian market, showing a positive outlook towards sustainable mobility solutions.
- Despite challenges in the automotive market, Bosch Limited saw a 14.7% rise in profit before tax in the June quarter, indicating steady growth amidst market fluctuations.
Guruprasad Mudlapur, President of the Bosch Group in India and Managing Director of Bosch Limited, shared insights on the future of electric vehicles and hydrogen technology in India. At a press conference in Bengaluru, Mudlapur expressed confidence in the growth of electric vehicles, foreseeing that by 2030, a significant portion of passenger cars and two-wheelers will be electric. He highlighted the potential for scooters to lead this transition, while heavy commercial vehicles (HCVs) are expected to shift towards hydrogen-powered solutions. Bosch Limited is actively involved in projects focusing on hydrogen technology, aiming for 10% of HCVs to run on hydrogen by 2030. The company is working in collaboration with Bosch Germany to develop hydrogen engine technology tailored for the Indian market, emphasizing a commitment to sustainable mobility. Despite challenges such as the low charging infrastructure in India, Bosch Limited remains optimistic about the transition to electric and hydrogen-powered vehicles. Additionally, Mudlapur addressed the global semiconductor supply situation, stating that while the criticality has eased, vigilance is required to navigate potential fluctuations. Despite market challenges like the impact of elections and heatwaves on automotive sales, Bosch Limited reported a 14.7% increase in profit before tax in the June quarter, reflecting steady growth. The company's total revenue from operations also saw a 3.8% rise compared to the previous year, showcasing resilience in the face of market dynamics.
Topics
India
Electric Vehicles
Technology Development
Charging Infrastructure
Automotive Market
Semiconductors
Profit Growth
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