Havells India Ltd. will enter the electric vehicle charging market in the next six months as the company eyes to tap into the lucrative sunrise sector set to buzz after the entry of Elon Musk's Tesla.
The company will tap automakers, charging infrastructure developers, consumers, and real estate developers, said Vivek Yadav, executive vice president of Havells India.
"The EV scene in India is set to grow multi-fold. We identified chargers as one of the businesses. Charging infrastructure in India is at a very nascent change," he told NDTV Profit.
To start with, Havells India will serve in the business-to-business segment focusing on automakers, and gradually move into the retail consumer market. "We have developed a suite of products for both AC and DC charging," he said.
The company will also roll out internet-connected household devices from lights and toasters to air conditioners that can be operated via a mobile app and allow consumers to monitor energy consumption patterns for efficient usage.
"We are building a suite of applications where all Havells products can be operated through a common platform. We spend over 2% of turnover on research and development," Yadav said. "The adoption of IoT-enabled devices is happening fast," he added.
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