At the Auto Expo 2018, Covestro will not only showcase its range of solutions for the automotive industry but also look at partnering with OEMs for joint development of next generation electric vehicles.
29 Jan 2018 | 4826 Views | By Autocar Pro News Desk
Covestro, one of the largest polymer companies globally, which manufactures high technology polymer and product solutions for various industries, has revealed it is looking towards partnering with OEMs for joint development of next- generation electric vehicles (EVs) at the upcoming Auto Expo 2018.
The company, which introduced the first car ...
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Covestro, one of the largest polymer companies globally, which manufactures high technology polymer and product solutions for various industries, has revealed it is looking towards partnering with OEMs for joint development of next- generation electric vehicles (EVs) at the upcoming Auto Expo 2018.
The company, which introduced the first car with an all-plastic body, says its participation at the Auto Expo Component Show at Pragati Maidan (February 8-11) will see it highlighting its global solutions crafted for the automotive industry, keeping in line with the trend of future mobility.
It will aim to drive the automotive innovation forward with its high-tech materials and advanced technologies that make the autonomous – or self-driving – electric vehicle of the future possible.
Commenting on its participation at the Auto Expo 2018, Ajay Durrani, managing director, Covestro India said, “With the government ushering in a trend of EVs, we are excited to work with the mobility industry to not just work on the materials that makes an EV work more efficiently and look great, but also work on the materials that would help build a sustainable infrastructure to support the EVs."
"We see immense opportunity for high-tech polymers in the current ICE (internal combustion engine) driven, as well as, the future mobility space. By participating in this show, we would like to engage in the joint development projects with the Indian OEMs and also explore partnerships in the space of next generation electric vehicles,” added Durrani.
The company says its range of products from the advanced glazing technologies, holographic lighting, EV battery packaging, among others will be displayed at the show. And its optimism on the Indian automotive industry’s growth is backed by the country being the fastest growing automobile markets in the world.
Covestro says it expects the industry to touch a market opportunity value of $260-$300 billion (Rs 1,642,420 crore to Rs 1,895,100 crore) by FY2026, at a CAGR of 12.87 percent. This expectation is attributed to the significant growth opportunity contributed by electronic vehicles, owing to sustainable mobility drive by the government.