Lapp Mobility, a 100% subsidiary of Lapp Group of Germany and a leading supplier of integrated solutions and branded products, including cables for the global electric vehicles (EV) charging infrastructure, has initiated talks with India OEMs and charging infrastructure providers to explore the possibility of entering the Indian market.
The company’s top brass recently visited India and were evaluating the prospects of laying a distribution channel along with Lapp India which has been manufacturing and selling power cables in India for decades.
“We can provide reliable and good products to the Indian market. We have decided to enter this market through the existing organisation. Lapp India has regional offices and our products can be expanded into the market through them. We are discussing about it,” said Frank Hubbert, Managing Director - LAPP Mobility GmbH in an interview.
To begin with the company plans to supply to India from its factory in Germany and if volumes pick up, they may consider setting up a manufacturing unit in India.
As per Lapp’s group’s strategic initiative, mobility services is expected to add to its growth in the next 5 years.
“ We have clearly identified India as a growth market due to the opportunities. We want to work with infrastructure providers and charge point operators and also with classic OEMs like Tata Motors and others. We have been working with JLR so there is a natural fit may be in next couple of months we might see some development.
“Though the number of EVs in India is very less, we believe that there will be more vehicles on the street. We would like to participate in that growth,” he said.
The company has two products, one a cable for charging EVs at public charging stations and a cable that one carries in the car that can be plugged into a regular outlet during emergency.
Both the products are certified for India. In five years, the company plans to generate a revenue of €5 million.
Approximately 1.1 million passenger EVs (cars) were sold in 2017, up by about 57% from the previous years. China contributed 600,000 vehicles, the United States had 200,000 and Europe 1,25,000. EV sales in Norway constituted 50% of all vehicle sales. Several nations have announced that their vehicles will be fully electric by 2025, 2030, or 2040 and Lapp Mobility is betting big on this opportunity.
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