Speaking at a CII event, the veteran industry leader noted that the automotive industry is moving towards electrification and the availability of optimal infrastructure and power, the ecosystem, the government subsidies and disposal of waste electric vehicles will play a crucial role in the future.
The company, which is the country’s largest two-wheeler manufacturer, is poised to enter the electric vehicle segment in the coming months.
“Without a doubt, electrification is the way forward for the industry…Some companies are already there…I think electric vehicles will be the vehicles of the future. The country is moving towards this,” Munjal said.
Overall, different countries have already set goals in the field of electrification of the automotive segment, he noted.
“This (movement towards electric vehicles) will also require huge gains for the entire vehicle manufacturing ecosystem,” Munjal said.
Design principles will be most crucial in this endeavor and the industry must try to deliver a product that is both durable and aligned with customer requirements, he added.
“Furthermore, safety is non-negotiable and is of paramount importance considering everything that is happening across the country,” Munjal said, referring to recent incidents where electric two-wheelers caught fire. .
He noted that the entire infrastructure for battery charging, auxiliary equipment, parts supply and after-sales service were all important aspects that needed the industry’s attention.
“We also need to build capacity in terms of the supply chain and the skill sets that will drive this mission. Given the size of our country, building high-quality infrastructure to support the revolution of electrification is very, very critical,” Munjal said.
He said it was very encouraging to see the support from the union and state governments for the electric vehicle industry.
“I also believe that retraining will be necessary to ensure our operations continue without interruption. When I talk about retraining today, there are not enough skills available in this area,” Munjal said.
Talking about manufacturing skills in the industry, Munjal said the country’s manufacturing sector needs to be taken to the next level.
“This is really the time for us to achieve global leadership. Indian manufacturing industry needs to internalize the areas of quality, technology and sustainability. Every company needs to develop its skills and capabilities in these three areas “, he noted.
Only when each business is operating at its optimal level can the entire supply chain be competitive, he added.
In March, Hero MotoCorp announced that it had set up a global fund of $100 million (around Rs 760 crore) to nurture more than 10,000 entrepreneurs on ESG (environmental, social and governance) solutions, including its upcoming electric vehicles. (VE).
The company will showcase emerging mobility solutions under the Vida brand, including its electric vehicle which will be officially unveiled on July 1, 2022, to coincide with the birthday of Hero MotoCorp Chairman Emeritus Brijmohan Lall.