One of the country’s largest ports-to-power conglomerates, Adani Group, has announced its plans of entering the electric vehicle business in the Indian market. The Adani Group is led by the country’s second-richest individual, Gautam Adani. Recently the company filed a trademark for the ‘Adani’ name under the EV section. Reports suggest that the S.B. Adani Family Trust has proposed the idea of entering the EV space. This indicates that the company will focus on the electric commercial vehicle segment including coaches, buses, and trucks.
Future Plans
In the recent past, the Adani Group recorded a market cap of INR 3 lakh crore. The company also set up a subsidiary called ANIL and via this new subsidiary, the Adani Group will also undertake green hydrogen projects, generate low carbon electricity, and manufacture renewable energy sources. The renewable sources include wind turbines, solar modules, and batteries. The company also aims to produce the cheapest hydrogen in the country. The Adani Group also plans to become the world’s largest renewable energy company by setting up charging stations across India.
Reportedly Adani will use its upcoming electric commercial vehicles to fulfil in-house requirements at airports and ports. In November 2021, the Adani Group announced its plans of investing USD 70 billion in new energy spaces for the next decade. The company also plans of undertaking green projects, the company plans to establish a new R&D centre. The new research and development centre will be located in a special economic zone (SEZ) in Mundra, Gujarat which will provide access to electric mobility. The Adani Group will compete with the Tata Group and Reliance, which also announced low-carbon project plans.
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