About 70% of two-wheelers will be electric by 2030, says Bosch president

BENGALURU: Though electrification in the country remains lower currently, Guruprasad Mudlapur, President of the Bosch Group in India, and Managing Director, Bosch Limited, is confident that by 2030, 20% of passenger cars and 70% of two-wheelers will be electric.

Speaking at a press conference here in Bengaluru on Wednesday, he said scooters will lead the way with higher penetration and heavy commercial vehicles (HCVs) will be more towards hydrogen.

The company is working on new projects, including hydrogen technology. "The ecosystem of hydrogen distribution has to come in and we believe it will take some time. We expect about 10% of HCVs to be hydrogen by 2030," Mudlapur said.

In its annual report, the company said, "We are actively engaged in developing hydrogen engine technology for the Indian market in collaboration with Bosch Germany."

When asked about the global semiconductor supply situation, he said the supply criticality of semiconductors has largely eased and that they do not see major issues coming up. "That said we always need to be quite watchful on this because things can go in different directions. We are very cautious and are taking it step by step. At this point of time, looking into coming quarters, we do not foresee any semiconductor related issues coming in," he said.

On Q1 FY25 performance, he said the financial year commenced with moderate growth in the automotive market despite the challenges of a high base from the previous year, a slowdown related to elections and the summer heatwaves.

The company's Profit Before Tax stood at Rs 611 crore in June quarter, an increase of 14.7% compared to the same period last year. Its total revenue from operations in the first quarter stood at Rs 4,317 crore, an increase of 3.8% compared to the year-ago period. Bosch said the growth is driven by higher demand in the overall automotive market, mainly in the passenger cars segment.

"Continued demand in the passenger car segment, coupled with growth in production and wholesale, resulted in growth for Bosch Limited, this quarter. However, retail sales have remained sluggish leading to a rise in the pipeline inventory. Despite the challenges, the overall sentiment in the automotive sector remains positive," he added.