Industrial Automation Magazine India

Industry welcomes Lockdown extension

Published on : Saturday 18-04-2020

Mr Maxson Lewis, Managing Director, Magenta Power, has shared a quote on the Impact of the lockdown extension on the EV Industry.

Industry leaders in India welcomed the extension of national lockdown till May 3 announced by Prime Minister Narendra Modi. The general consensus is that it is necessary to flatten the Covid-19 pandemic curve and in larger interest of the country. But various industry segments also sought urgent financial help as large sections of the industry are struggling with little production and no demand. Speaking on the impact of the lockdown extension on the EV Industry, Mr Maxson Lewis, Managing Director, Magenta Power, said, “While the extension in the nationwide lock down was necessary and expected, this elongated lock down should be used by the government to plan for the exit plan. The agriculture system needs to be tended to effectively, as any impact to the agrarian system will push the national economy, since manufacturing and services economy has collapsed. The EV vehicle owners, due to this extension, would have to arrange the charge and discharge of their cars at location, and expect service issues only post lock down. This goes for petrol and diesel vehicles as well for their lead acid starter batteries. As an industry, the EV segment has been less impacted since the large scale adoption was yet to happen as compared to the traditional auto industry. However, the demand derivative for EV is linked to overall auto demand which has been and will continue to be impacted, pushing the EV business investments plans out by months. But as an internal optimist, this extended lock down could also mean that traditional auto may look towards EV as the reset plan.”

Magenta Power is among the pioneers in creating the EV ecosystem in India.