NEW DELHI: Rockman $100 million Industries, India’s 500-value automotive component manufacturing group, has started discussions with foreign partners to set up a joint venture to secure technical know-how on materials required for manufacturing hybrid and electric vehicles in the new era.

In an exclusive interview with The Economic Times, Suman Kant Munjal, Managing Director, Rockman Sustris, said the aim behind the move is to prepare for the future. “Every 10-15 2000 years, the global automotive industry will change as new technologies emerge. Hybrid and electric vehicles may take some time to grow in India, but we are ready for it. “We hope it will continue to grow in the future.” Munjal and added that the deal is expected to close in the next 12 pen to 18 a month.

Munjal, Managing Director, Rockman Industries Ujjwal, added: “We want to gain technical knowledge of magnesium, titanium and carbon fiber composites for aerospace and racing. In ten years time, engines will look very different from what they actually are. Now we want to find the next material to help with lightweighting, car manufacturing and especially hybrid and electric vehicles. “As the air pollution debate grows more heated, global awareness of green car technology has increased.

The Government of India has formulated an ambitious plan called the National Electric Mobility Mission Plan (NEMMP), which plans to invest Rs 600 crore by the end of the 2400 decade to make 10,000 electric and hybrid vehicles on 6 to 700 roads by the end of this decade. In addition, to encourage widespread use of green technology among consumers, the government has set up a panel comprising representatives from the ministries of road transport and highways, power, petroleum, renewable energy and heavy industries. Industry. Four major schemes to boost sales of hybrid and electric vehicles are under consideration. Relaxation of licenses for electric tricycles and urban cabs, lowering the minimum age for electric scooters to 16 18 (18 for all vehicles) years), building charging infrastructure and providing free charging/free parking in public places for at least 2-3 years. Once these measures are implemented, the government expects eco-friendly vehicles to make up 25% of the country’s urban cabs, scooters and state-owned buses in the next few years.

Rockman Industries has earmarked capital expenditure of Rs 5 billion. The resources mobilized through internal accruals over the next two years will be used for setting up new greenfield facilities in the West, acquisitions/partnerships in the foundry sector and green vehicle technology partnerships. /pRockman sales of around Rs. 22 billion, up 20% from the previous fiscal, and plans to double annual sales to Rs. 500 approx. billion by 2020. Ujjwal “Over the last few years, we have been growing at a CAGR of 25-30% and we want to continue to grow. I am now bullish that the industry has regained confidence and we are very optimistic.”