Tesla's entry will raise the bar for EVs in India, says Mahindra's Velusamy R
Mahindra and Mahindra
(M&M) began developing its born-electric SUVs at the Mahindra Research Valley (MRV) near Chennai. In an interview with
The Times of India
, Velusamy R, President of Automotive Technology and Product Development at M&M, spoke about the transformation of the state's EV landscape and what lies ahead.
Velusamy, who set up MRV and now leads M&M's EV strategy, recalled the early days of building the electric SUV platform. 'When we started in 2021, Tamil Nadu's EV ecosystem was in a nascent stage. There was more curiosity than capability,' he said. Supplier partners were only beginning to develop EV-specific expertise, academic institutions hadn't fully pivoted towards EV research, and policy frameworks were still evolving.
Despite these limitations, Mahindra invested in building capabilities by collaborating with global experts across Europe, the US, Korea, and the UK to upgrade the skills of its engineering workforce. Over time, MRV became a hub for innovation, enabling the development of the company's electric-origin SUVs and fostering a culture of component and software innovation.
Tamil Nadu emerges as a leading EV hub
Velusamy highlighted the rapid progress made since then. 'Today, tier-1 and tier-2 suppliers are actively investing in EV technologies, and the state government has provided strong policy support, including road tax exemptions and capital subsidies,' he said.
Coimbatore, where Mahindra has established its Software Defined Vehicle (SDV) centre, has become a key location for developing software and electrical architecture for EVs. Velusamy noted that Tamil Nadu's growing charging infrastructure and its strong tech base have been instrumental in building Mahindra's ground-up electric platforms.
Competition from Tesla seen as a positive force
Responding to Tesla's entry into the Indian market, Velusamy welcomed the competition in the premium EV segment. 'It will raise the bar, but it also drives innovation. As Anand Mahindra said, 'Looking forward to seeing you at the charging station,'' he remarked, adding that while the immediate manufacturing impact may be limited, Tesla's entry sends the right signal to suppliers to align with global standards.
He also lauded the Tamil Nadu government's efforts to expand its EV roadmap to include battery recycling and raw material strategies. 'The state is looking at EVs from a full life-cycle perspective, not just from a manufacturing angle,' Velusamy said, adding that other Indian states are also beginning to adopt such comprehensive approaches under central government guidelines.
What states need to support EV development
On what it takes for a state to become a successful EV product development hub, Velusamy stressed the need for engineering talent, electronics and software supplier networks, battery and cell development capabilities, and strong R&D infrastructure. He believes Tamil Nadu already has a solid foundation in all these areas.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
6 minutes ago
- Indian Express
As Russian oil discount narrows, economists think India can afford import diversification
With US President Donald Trump doubling the tariff on Indian goods to 50 per cent, economists think India can afford to reduce its purchase of Russian oil due to the narrowing of the discount on offer and diversify its sourcing. From around 2 per cent prior to the invasion of Ukraine in February 2022, the share of Russian oil in India's oil imports has increased sharply to 35-40 per cent, with Indian refiners lapping up discounted Russian oil that was shunned by developed nations. However, the tariff war instigated by Donald Trump – initially with a focus on addressing the US' trade deficit with other nations – has seen the imposition of so-called secondary tariffs on India for its purchase of Russian energy and defence equipment. On July 30, Trump threatened a 25 per cent on India and an additional unspecified 'penalty' for its Russian trade. On Wednesday, the penalty was revealed to be a further 25 per cent tariff on Indian goods that will come into effect on August 27. According to Barclays economists led by Aastha Gudwani, the purchase of discounted Russian oil helped lower India's oil import bill by around $7 billion-10 billion in 2024 to $186 billion. 'As of now, the discount on oil imports from Russia having narrowed to around $3-8/barrel lower than Middle eastern grade. Media reports suggest that Indian refiners would be pushed to pivot towards traditional West Asian suppliers and new players such as Brazil to make up for lost Russian supplies, with price increases around $4-5/barrel. With global oil prices in 2025 so far settling around $9/barrel lower than 2024, such a diversification of oil supply sources is unlikely to hurt India's oil import bill,' they added. Meanwhile, Nomura economists Sonal Varma and Aurodeep Nandi estimate the implied discount on Russian crude oil for Indian refiners declined to around $2.2 per barrel in 2024-25 from over $12 per barrel in 2022-23. As such, if India chooses to reduce its purchase of Russian oil, India's annual import bill may only rise by around $1.5 billion, they calculated. Morgan Stanley economists were in agreement, estimating that the discount India got on Russian crude oil in 2024-25 was only $2-3 per barrel. To be sure, Indian refining companies began cutting their purchase of Russian oil even prior to Trump's threat of a 'penalty'. In July, India's crude imports from Russia averaged 1.6 million barrels per day, as per data from Kpler, a global trade data and analytics firm, down 24 per cent from June. However, a move by India to procure more oil from countries other than Russia could push up prices globally, which would raise the import bill. While difficult to estimate, Nomura economists think that given India imported 1.8 billion barrels of oil in 2024-25, India's annual import bill could rise by around $1.8 billion for every $1 increase in global crude prices. 'Domestically, the government will likely keep pump prices constant, which means there is likely to be minimal inflation and growth impact from any shift in oil procurement. This also means that the ultimate cost of any transition will most likely have to be borne by public sector oil marketing companies, and eventually by the government if it needs to compensate them for these under-recoveries at a later stage,' Nomura said, adding that it did not see a 'major upside risk' to the Indian government's fiscal deficit target of 4.4 per cent of GDP for the current fiscal. Meanwhile, reduced demand for Russian oil from Indian refiners, especially state-run ones, is already beginning to reflect in prices, with Homayoun Falakshahi, head of crude oil analysis at Kpler, pointing out on Wednesday that private refiners were 'still scooping barrels, but at a lower pace. Four Aframaxes are currently waiting to discharge at Jamnagar and Vadinar'. An aframax is a type of oil tanker. According to Falakshahi, India's negotiations with the US could lead to New Delhi agreeing to raise its oil and gas purchases. The energy trade between the two countries is worth around $7.5 billion a year. 'This has already started to be the case, with the country's imports of US crude on the rise lately to an average of 225 kbd (thousand barrels per day) since May, nearly twice as much the levels from early 2025. Indian refiners could realistically increase their intake of US crude by another 100 kbd to previous highs of ~300 kbd in 2021,' Falakshahi said. However, he added he was sceptical that India will be able to completely stop the import of Russian oil. Siddharth Upasani is a Deputy Associate Editor with The Indian Express. He reports primarily on data and the economy, looking for trends and changes in the former which paint a picture of the latter. Before The Indian Express, he worked at Moneycontrol and financial newswire Informist (previously called Cogencis). Outside of work, sports, fantasy football, and graphic novels keep him busy. ... Read More
NDTV
6 minutes ago
- NDTV
Kashmir Mediation To Russian Oil: Trump's 'Un'Truth Social
New Delhi: US President Donald Trump has made several misleading or outright inaccurate statements about India -- from falsehoods regarding trade policy to the economy, Trump's remarks have frequently clashed with facts. Trump's announcement of 25 per cent additional tariffs on Indian goods triggered immediate diplomatic pushback from New Delhi and raised questions about Western consistency on Russian energy sanctions. Fact-checking Trump 1. "India Stopped Buying Russian Oil" Trump's Claim: "Well, I understand India no longer is going to be buying oil from Russia. That's what I heard. I don't know if that's right or not, but that's a good step." Fact Check: According to government sources, India continues to import Russian crude oil. 2. "India is the Tariff King" Trump's Claim: India is the "Tariff King" and an abuser of global trade rules. Fact Check: India's simple average tariff stands at 16 per cent, comparable to economies like Turkey (16.2 per cent) and Argentina (13.4 per cent). India's weighted average tariff is only 4.6 per cent. 3. "India is a Dead Economy" Trump's Claim: India is a "dead economy" and the US does "very little business" with India. Fact Check: Contrary to Trump's assertion, India remains the largest trading partner of the United States for the fourth consecutive year, with bilateral trade touching $131.84 billion in FY 2024-25. Indian exports to the US rose by 11.6 per cent, reaching $86.51 billion, and imports from the US stood at $45.33 billion. The two countries have set a target of $500 billion in bilateral trade by 2030 under the "Mission 500" roadmap. 4. Ceasefire Between India and Pakistan Trump's Claim: He personally brokered a ceasefire between India and Pakistan and prevented a nuclear conflict. Fact Check: There is no official evidence to support Trump's claim. Both Prime Minister Narendra Modi and External Affairs Minister S Jaishankar have clarified that no ceasefire was brokered by the United States. "At no stage, in any conversation with the United States, was there any linkage with trade and what was going on. Secondly, there was no talk between the Prime Minister and President Trump from the 22nd of April when President Trump called up to convey his sympathy, and the 17th of June, when he called up the Prime Minister in Canada to explain why he could not meet," Mr Jaishankar said in Parliament. 5. "1,000 Years War" Trump's Claim: "There have been tensions on that border for 1,500 years... a thousand-year fight in Kashmir." Fact Check: The India-Pakistan Kashmir conflict began in 1947 following the partition and independence of India. There is no historical basis for Trump's 1,000-year claim. Prior to 1947, Kashmir was a princely state under British rule and was not subject to the Indo-Pakistani conflict. 6. Kashmir Mediation Offer Trump's Claim: PM Modi asked him to mediate on Kashmir in 2019. Fact Check: India categorically denied that any such request was made. The Ministry of External Affairs stated: "No such request has been made by PM Modi to the US President. It has been India's consistent position that all outstanding issues with Pakistan are discussed only bilaterally." 7. "India Got A Sweeter Paris Deal" Trump's Claim: India got a "sweeter deal" under the Paris Climate Accord, which justified his withdrawal. Fact Check: India is the first G20 country to have met its Paris Climate Agreement targets. India's nationally determined contributions (NDCs) have been praised by international climate monitors. 8. "India is Taking American Jobs" Trump's Claim: "India is taking our jobs... It's not going to happen anymore, folks." Fact Check: Indian companies have created over 425,000 jobs in the United States, with $40 billion invested as per a 2023 Confederation of Indian Industry report. Additionally, Indian students contributed $7.7 billion annually to the US economy between 2019 and 2023. Indian-origin CEOs head major US. firms, including Google, Microsoft, IBM, and Adobe-driving American innovation and competitiveness.
Indian Express
6 minutes ago
- Indian Express
Toyota Mobility Foundation picks 5 finalists for $3 million challenge to improve crowd management in Varanasi
The Toyota Mobility Foundation (TMF) on Thursday, August 7, announced five finalists for its $3 million Sustainable Cities Challenge. The initiative is aimed at improving crowd management in Varanasi's historic city, Kashi. The foundation will award each of the finalists $130,000 in funding to steer their innovative solution that has been designed to improve safety and accessibility for millions of residents and pilgrims. The challenge has been created in partnership with the Varanasi Municipal Corporation, Challenge Works, and the World Resources Institute (WRI). It aims to address critical crowd flow issues through the narrow lanes of the city. The shortlisted solutions showcase a combination of technologies such as AI, big data, and real-time navigation with human-centred urban design. Three of the finalists are from India, while the remaining two are from the US and the Netherlands. From the Indian entries, VOGIC AI introduced the Behtar-Way platform that offers real-time, hyperlocal pedestrian navigation and crowd intelligence for city officials; Premeya Consulting (India) introduced the Nayichaal system that integrates signage, an AI chatbot, and a mobility dashboard to create a safer pedestrian experience; and The Urbanizer showcased Jan Jatra solutions that combine community-driven wayfinding and tactical urbanism to guide pilgrims and visitors. Meanwhile, Arcadis from the Netherlands showed SANKALP, which uses real-time data, mobile tech, and simulations to shift from reactive to proactive crowd management. On the other hand, from the US presented the CityFlow platform that uses generative AI and big data to monitor and manage crowds without additional hardware. Talking about the challenge, TMF's executive program director, Pras Ganesh, said, 'We're excited to see these solutions brought to life, not only to improve movement in Kashi but also to serve as a benchmark for other heritage cities worldwide.' 'These solutions aim to enhance safety and preserve the cultural and spiritual fabric of the city,' said Akshat Verma, Municipal Commissioner and CEO of the Varanasi Smart City project. Verma said that the initiative sets a global benchmark for balancing tradition and innovation. Meanwhile, Avinash Dubedi from WRI added, 'This is about more than congestion; it's about enabling dignified movement for all, including those with special needs.' TMF's Sustainable Cities Challenge is a three-year global initiative that is supporting urban mobility transformation in Varanasi, Detroit, and Venice. Final winners in each city will receive further funding in 2026 to scale their solutions. The $3 million is distributed as $50,000 for 10 semi-finalists to work on their early ideas, $130,000 for five finalists to build working solutions, and three winners will share $1.5 million to implement the best solutions in the city.
