Micromax: The next big thing is to make lithium batteries for electric cars

Electric cars are the next big thing. As the government pushes ahead with a nationwide vision of green mobility in 2030, new entrants are hopping to catch up with government subsidies and occupy untapped markets. The latest product in the Indian electric car market is Micromax Informatics, a local consumer durables company. If media reports believe it, the company, which is known mainly for its mobile phones, will announce its electric car model and lithium battery category in recent days.

Micromax will first enter the field of electric second wheels and tricycles. Its prototype is being tested and is awaiting approval, the Economic Times reported. It added that it had obtained a compulsory license to produce lithium batteries for electric rickshaws and electric vehicles.

It is also seeking funding for its new initiatives and is funding new business plans with different investors. Micromax Informatics received government approval for lithium batteries earlier this month.

Although RajeshAgarwal, the company's co-founder, told ET that they were considering entering the electric car(EV) sector, Guergulamu, the handset maker and consumer durables company, has so far not revealed much about its plans. The section is still in its infancy, with only a few players in India. In addition to mobile phones, its plans to focus on electric vehicles also highlight the huge competition in mobile technology, which is full of Chinese manufacturers known for their cheaper products.

One of the main reasons the company decided to explore the market for electric two-wheelers and tricycles is that, unlike the four-wheel-drive electric vehicle market, the four-wheel-drive electric vehicle market is trying to produce suitable vehicles for India. This part of the content has not been developed to a large extent. The center and most states have also launched several initiatives to attract investment under the faster adoption and manufacture of hybrid and electric vehicle plans. For example, it has been reported that the State Energy Efficiency Services Ltd.(EESL) plans to launch a new global tender for 10,000 electric vehicles for use by government agencies.

The centre may also consider abandoning registration and road taxes for electric car manufacturers in the near future, which would significantly reduce production costs. Micromax's next task is to obtain the approval of the prototype and establish manufacturing plants in Pune, Chenai and Bengaluru, which are very suitable for electric vehicles.

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