MindRush 2016: Disruptions to change auto industry like never before in 10 years, says Venu Srinivasan

 Chanchal Pal Chauhan        Last Updated: December 17, 2016  | 21:41 IST
MindRush 2016: Disruptions to change auto industry like never before in 10 years, says Venu Srinivasan

Venu Srinivasan the Chairman and Managing Director of India's third largest two wheeler company, says that disruption in the automotive industry over the next decade will outpace the developments of the past century ruled by internal combustion engines.

Speaking at the Business Today Best CEO's Awards held in New Delhi on December 17, Srinivasan said the automotive market will move beyond the current rage of electric vehicles, as software and hardware giants like Google and Apple going into the mobility mode. "At the Easter Parade in 1913 only one car was spotted, but just a few years later they were seen in droves," he said, adding that the disruption for mobility almost a century back was perhaps equally exciting.

Scooters, which account for a third of the annual 20-milllion two-wheeler market, is disrupting the Indian two-wheeler market, though at a slower pace "It has been a change happening with the same technology or engines going into the scooters and bikes are not out, but yes the demand for scooters has been on a surge and it has allowed the auto manufacturers to tweak production as per the demand," he added.

FULL COVERAGE: BT MindRush 2016

TVS Motors has been a dapper in the world's largest two-wheeler market consistently increasing its slice against auto majors such as Hero MotoCorp and Honda Motors. The Chennai-based two-wheeler maker has been increasing its share in the scooter segment and has been the leader in mopeds, the low-powered two-wheelers, which once ruled the domestic market.

Coming to autonomous vehicles, and the digital highways, he said that cars will remain in force with a different package of technology. There will be more entrants like Tesla, which is successfully bringing in some smart technology into the world and is driving the new wave of alternate mobility.

However, coming to the Indian market, he said that companies are looking to upgrade to global safety and emission norms to provide greener technologies to cut tail pipe emission for next-generation vehicles.

 

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