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BRICS members are learning from each other's strengths. China and India are sharing breakthroughs in the production of electric cars. Shweta Bajaj reports.
Over the last 25 years, Tata Technologies has helped both blue chips and start-ups succeed. Now, it's focusing on the electric vehicle market.
SHWETA BAJAJ INDIA "What Tata Technologies has done is taken their expertise in Indian market to similar companies in China's market. They saw a huge potential in China's electric vehicle market, a sector that is likely to see a massive growth in the coming few years."
The company was building intellectual property that would be perfect for similar firms in China.
ANAND BHADE PRESIDENT, APAC SALES & MARCOM, TATA TECHNOLOGIES "From quantitative indicators, China is the largest growing economy, it's the largest consumer market for the automotive side of things. It's the largest automobile market with 28 million vehicles. So there were these quantitative indicators that clearly was saying that we need to be there but more importantly from the disruption part of it we saw a chance for us to not only contribute but learn from China."
China currently produces 28 million vehicles a year. Only 750-thousand of those run on electricity. The government wants electric car production moved to the fast lane, to account for 10 percent of the total by 2020.
Tata Technologies' first foray into China was with NIO China – a new generation electric car company. The collaboration led to the company's first electric all-aluminum vehicle – The ES8, which was launched at the end of 2017.
The partnership works both ways. Meet Dr. Rushen Chahal. He is the founder of Hriman Motors. The car company is planning to sell the most affordable electric car in the Indian market in the next few months.
DR. RUSHEN CHAHAL FOUNDER, HRIMAN MOTORS "Any car that you build for India is good for the entire world. If you can do it here you can literally sell the car anywhere."
The car will have a lithium titanium battery that's optimized for India's sweltering heat. It's made in China, and will be key to the car's health. It will also help keep costs down. It's a partnership that benefits both countries.
While Chinese companies are taking advantage of Indian technology, India is benefiting from China's manufacturing heft. Reporting from Pune & Delhi, in India. Shweta Bajaj, CGTN.