‘Adani’ vehicles? Co gets approval for trademark – Times of India

MUMBAI/CHENNAI: After planning a foray into the steel industry, Gautam Adani, India’s second-richest person and head of the eponymous Adani Group, appears to be looking to enter the automobile sector. Group entity S B Adani Trust received trademark approval to use the name ‘Adani’ for vehicles operating on land and in water.
The move is part of the ports-to-power conglomerate’s broader play in green projects. The plan is to enter the electric mobility space, said sources. It will look at electric commercial vehicles — coaches, buses and trucks — to begin with. It will initially use them for its in-house requirements in airports, ports and for other logistics purposes. It also has plans to manufacture electric vehicle batteries and set up charging stations across the country.
Recently, the government, in a bid to power up the electric vehicle-charging ecosystem, decided to offer land to private entities to install charging stations on a revenue-sharing basis.
The infrastructure conglomerate also plans to establish an R&D centre in its special economic zone (SEZ) in Mundra, Gujarat, for its proposed play in electric mobility. The move pits the Ahmedabad-based conglomerate against the Tata Group and Reliance Industries, which too have ambitious plans in low-carbon projects.
Auto industry watchers said Adani’s entry into electric commercial vehicles will shake up the scene. “I am not aware of Adani’s plans, but it’s great to see large conglomerates getting into electric vehicles,” said Sun Mobility co-founder and vice-chairman Chetan Maini. Currently, Tata Motors and Ashok Leyland control the last-mile and first-mile connectivity segment with the Ace and Dost brands. Light and medium cargo carriers are rapidly electrifying because the per-km cost of operation of an e-LCV (light commercial vehicle) is 80 paise compared to Rs 4 for a diesel vehicle.
State and ‘Fame 2’ subsidies have also brought down the capital cost. The other big bang segment is buses, particularly with Convergence Energy Services conducting a combined tender for 5,450 single-decker and 130 double-decker e-buses for cities like Delhi, Bengaluru, Surat, Hyderabad and Kolkata. With battery prices expected to fall below $100 in 12-18 months, the game will get more competitive. Battery prices have come down from $1,300-1,400 per kilowatt hour nearly 18 years ago to $110-120 now.