India can see quick transition to EVs: Senior Porsche executive

Porsche AG, a German sports car manufacturer, is doubling down on expanding its presence in India, as a new generation of Indians look for supercar brands with a sustainable story, Detlev von Platen, a member of the company’s executive board told Mint.

“India has a chance (to grow the luxury car market) when you look at its willingness to invest in sustainable technology and infrastructure. We’d like to learn more about it. At Porsche, we have a clear commitment to be net-carbon neutral by 2030, which means our entire supply chain and even the usage of our products must be net carbon-neutral. India can be a country where the transition to EVs can happen quickly. We don’t see India as anemerging market anymore,” Mint quoted Platen as saying.

In addition, Platen noted that India has a strong momentum as it embraces investment in research and development (R&D), sustainability, and infrastructure. Although many opportunities have opened up over the past ten years, he said that the company will not set up assembly units in India. Instead, the vehicle manufacturer would prioritise value-oriented growth, sustainable growth, and national brand building in the country.

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By the end of the year, the German high-performance automaker would have 10 dealer-investors in India, giving it a presence in all significant tier-one markets, the company said.

Platen also told Mint that Porsche is one of the fastest growing luxury car brands in India. As part of the luxury car market in India, Planten said that Porsche would continue to be small in terms of its volume.

He added that the group wouldnot see India as an emerging market anymore, especially in terms of establishing all operations in the country, arguing thatIndia is a leading country in terms of software technologies.

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