India continues to grow in the electric vehicle space, with the segment attracting many startups and tech companies. In this direction, the ‘Adani’ trademark has now been registered in India, ie the entry of Adani Group in the green mobility space. A trademark application for the word ‘Adani’ filed under Automotive Range has been accepted on 17 January 2022. At present, the ‘vehicle’ mentioned in this application can be a device used in land, air or water. Let us tell you, this application was filed by SB Adani Family Trust.
The Adani group seems to be perfectly suited for this segment, as it has most of the resources to achieve success in the EV range. One of the most important of these is money, which is needed the most when one enters the EV space. Adani currently has several successful businesses including natural gas and electricity generation. A similar story can be seen with Tata Motors, whose recent subsidiary, Tata Power, is currently building an extensive network of EV charging stations.
The Adani Group already operates one of the largest solar plants in the world. The market capitalization of Adani Green Energy Limited (AGEL) recently crossed Rs 3 lakh crore, making it more valuable than Maruti Suzuki, ITC, Larsen & Toubro, Avenue Supermarts, Bajaj Finserv and Titan Company.
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It is to be noted here that the Adani Group will be one of the entities that will play a vital role in achieving pure-zero carbon emissions. Adani has earmarked an investment of US$70 billion for the next ten years, and their primary objective is to increase the share of the company in the total electricity generated to 70% by FY2030. For the time being, it remains to be seen which vehicle the Adani Group is looking to launch in India’s EV space.
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