Gautam Adani's logistics-to-energy conglomerate wants to enter into electric vehicles segment with brand 'Adani' registerd in the name of the Group entity S.B. Adani Family Trust.
As part of the broader moves into green projects, the group has plans to set up R&D facility at SEZ in Mundra, Gujarat for its electric mobility projects.
The Group plans to make electric commercial vehicles—coaches, buses and trucks that would be used in-house requirements at Adani-owned airports and ports, reports Times of India.
Electric vehicles accounts for barely 1.3 percent of total vehicle sold in India during 20-21. It is estimated that EV market in the country could grow at a compounded annual growth rate of 90 percent to touch $150 billion by 2030, according to a report by consulting firm RBSA Advisors.
Adani Group has recently set up a wholly-owned new subsidiary, Adani New Industries Ltd (ANIL) to venture into new energy space, investing 70 billion dollars. With green hydrogen and other products like wind turbines, solar modules and batteries, the firm aims to become the world's largest renewable energy company.
"By 2030, we expect to be the world's largest renewable energy company without any caveat - and we have committed USD 70 billion over the next decade to make this happen," Gautam Adani said an event on November 11, 2021.
Adani Group already is the world's largest solar power developer.