 Good afternoon everyone a very warm welcome. I'm sure after a nice meal. It's always a bit challenging The conversation went a little bit beyond that talk that talked about where the future would be beyond the surface transportation side But you know at a very broad level we've heard this for multiple things There are going to be five key drivers as we think of where the future mobility is right It's about being electric about connected about shared about Autonomous and powered by renewable energy and you've heard this multiple times What's interesting is two things one is in the last few years There's been tremendous progress in each of these verticals Independently right you've got renewable energy at a price. That's under three rupees You're electric vehicles that are really making business sense today And you see connectivity in almost everything you do people you share transportation all the time But what would be key what's going to be very big going forward is at the intersection of these active it of these five key Pillars that come together and what would that do in terms of the future? So let's think about this if you look at electrics, they're probably around 10% more efficient overall from an energy consumption by having better Power trains lower drag rolling resistance. You'll get a 10% lower cost You then say I'm going to use renewable energy. I could probably reduce the cost by another 10% Then you say hey listen, what about if I do shared mobility? We get a 20% improvement in performance Then you start to say what if I remove the driver from the equation? There's another 20 30% cost reduction and what if I get true connectivity if You know a hundred thousand of us want to go from this side of town to white field and you're truly connected You can get another 10% efficiency So what does this mean that by 2030 we could get transportation to probably be 30% as expensive And where does today we could look at everything of course being green would be hygiene and also it would be completely Energy-clean right through the ecosystem This is a fairly big transformation that you're going which is a combination of technologies and business models That's going to get us there here right and it's across platforms. That's going to happen Which would transform how we think of mobility here? so what's really Driving at least the first piece of a you know road transportation or service transportation in India You know, we're all aware that's you know our Transportation is seven percent of our GDP today. This is a huge amount from an auto industry And almost five, you know four to five percent of a manufacturer fifty percent of a manufacturing GDP in the country So from an industry point of view, it's very important for the country if you think of course from climate change and from Energy point of view where we are importing, you know, eighty ninety billion dollars of oil. It's very critical that we address these issues So here's an opportunity as we think as a country of how we can address all these three pieces in a meaningful manner And I think connecting energy with mobility is going to make a huge impact In the years to come for example, if we were to fast forward to 2030 and just take for a second That every vehicle is electrical very hypothetical We won't be at a state by 2030 where every electric every vehicle will be electric Which is also the past fleet India would need around 300 gigawatts of renewable energy, right? And we're planning by 2030 to have around 600 gigawatts of renewable energy So theoretically we could power the entire surface transportation of the country by complete renewable energy on this front Of course from when you generate energy to when you use it there will be gaps So you'll need storage in other mechanisms, but that's a very important perspective Or why you can attack both energy and mobility in one space and the impact What would that mean in terms of size? That's probably less than point five percent of Rajasthan covered with solar panels I would do that for you, right? So and it it's available at under three bucks a unit which means it makes business sense for someone to look at it So transformation is can be very huge for us as a country in the next seven years as we think of integrating energy and mobility Now the global markets as you these as you know, it's it's been 10 million this year for passenger vehicles, right? This last year sorry 22 and 23 supposed to be 17 million, right? India also for the first year crossed a million vehicles Which is which is great and I see a lot of people here in the thing who was responsible making that happen And congratulations to all of you to me to be part of that journey to accelerate India's vision here But scooters for the first time last month on you know exceeded 5% So getting to 80% the next five six years is a real is a very much a reality in Three-wheelers loaders. We've crossed, you know, 36% passenger over 50% So by 2025 to be 90 95% electric on three-wheelers very much a reality, right? If I think of cars, they've been slower But if I look at Shared transportation and taxis in the last one year it's grown 6x So if you think of the trends of what you're going to see Shared will be very big driven first to drive adoption and then slowly move to personal mobility But it shared it makes business sense in buses. We've done well The country's trying to get its first 7,000 buses on the road and it's putting out a tender for 50,000 buses The area we haven't done a lot is on trucking But interestingly, it's 2% of our fleet, but 40% of the energy we use in the country so we've got a lot of work to do on the trucking industry and Given the current pricing with the right business model Trucking can actually be cheaper than diesel So I do believe that in the years to come you would see a large transformation on the trucking industry, too So in many ways you're looking at some of these going faster than others But there will be a big push across the entire industry on electrification throughout here So if I look at therefore the mobility landscape and say Where are the areas that there could be focus of things that we could look at or how would the larger picture be? Well, it's given that electric mobility is clean I think there will be a next step to how you think of electric mobility from a cleanliness point of view It's going to be thought both from a well-to-wheel point of view and a cradle-to-grave point of view So from a well-to-wheel point of view is how quickly can we integrate renewables to enable to have our reduction, right? How quickly can we further make our powertrains more efficient to make sure that we're even lower of energy consumption? On a cradle-to-grave perspective, how do we limit the use of raw materials to enable us to go further? For example, when you look at a battery swapping option, you may use half the battery and your battery life is 3x You may use one sixth the lithium in its total life cycle, right? And then you can do reuse and then recycle So it's important that we start thinking clean beyond an electric vehicle is clean But how do we take the next steps as we think of both cradle-to-grave and well-to-wheel emissions in the space, right? The other part from a consumer point is going to be complete convenience, right? It's about that seamlessness that consumers want, right? A lot more people would take the metro if they knew They could get a vehicle from their home to the metro station in an air condition or whatever Transportation they'd like and as soon as they reach a metro station, a vehicle is ready to take them to work If that seamlessness is available, the convenience factor would increase and of course people adopt it So there's a large role of how do we think of digitization at scale on this front, right? And I take that one step further on the efficiency side, right? If we look at today probably We could do the same transportation the country by using around 40 to 50 percent of the assets we have So think of what that would do to congestion if we could use the same Move the same number of people and goods around with half the assets And that's all around the efficiency of of transportation that we could have and how we look at data connectivity So these two pieces Need us as a country to create a sort of new mobility platform what API did UPI did excuse me to to the industry from a payments gateway The mobility platform has an opportunity to create humongous entrepreneurs and businesses that could start to leverage this because if we reduce that and Optimize this part of the equation, right? Then the impact is huge from a congestion from an energy and from a cost point of view And that's an area which we have to first put away our own independent company goals and think of the larger picture And if that picture is going to grow everyone's going to grow with it And that's going to be an important piece as we think of the larger piece around this Safety needs to be just almost taken as hygiene and granted and we had a wake-up call earlier this year With a few safety issues to be honest with you They were far less than if you take the equivalent of gasoline vehicles for miles done We just get a lot of attention on the first page of newspapers But that wake-up call has created a set of new regulations and honestly those new regulations Are more advanced than even Europe or US? I think half the cars from products made from they would probably fail the Indian regulation if they came here They're applicable to them. So it's been pushed to the limit But the idea is that safety has become important, but why do we need? Policy to do that, right? And how wise why aren't we inherently thinking? That when we build products, we have to be responsible for them and we have to have a safety in that culture Has to be far more ingrained in everything we do a sense of responsibility in everything We do here has to inculcate as you're trying to take a transformation In a new energy space on this front, right? Affordability is the key part if you want to have sustainability No affordability if your vehicles cost 20% more your market is point zero one percent that it's cost neutral It's point one percent twenty percent lower. We have an infinite market and We are breaking this paradigm in some segments and we're seeing that the one segments that you're breaking it Clearly the market is going very quickly So affordability in everything we do and I don't mean low cost I mean using technology and business models to create affordable and value conscious solutions for consumers, right? And that's an area where India can play a large role on this front The last thing is around scalability of solutions. We have to You know, we're caught off guard the kind of climate change challenges are quite big We can't take a pace that has taken 20 30 years to do it We have to accelerate this in the next five to seven years, which means the scalability of our solutions And organizations have to be at a level that are very different to rethink this Almost go to the computer world and other industries to see how well they did it and and use those Analogies as we think on mobility when we look for this So what's the opportunity ahead for all of us as we look at this entire space here? Well from an auto industry At a product level, you've got the two-wheelers. You've got the three-wheelers. You've got all of that The industry by 2030 would be 350 billion dollars in India, right? So it's a huge space that we look at it But the other places would be custom-made vehicles which are India centric and Shared mobility solutions which would play a large role in addition to the standard products that we today already have in the marketplace You know 50% of an electric vehicle's bill of materials is is is different now going forward, right? That by 2030 would be around a 75 billion dollar opportunity The auto component industry today in India is 2.3 percent of our GDP So it's a very large amount if you start to think about what this transformation It is which means everything from motors controllers You know charges DC DC converters air conditioning systems thermal management batteries The whole list of things that are going to be new are going to come through here And and we can't undermine the fact of how big part of our GDP this entire thing is and the impact It's going to create if looked at well The third is new mobility solutions would probably constitute 15 percent in addition to this piece, right? And these new below mobility solutions are going to be around a battery as a service Mobility as a service how we integrate energy? How do we do shared mobility on these new platforms and leveraging this entire area? It's going to be a combination of technologies and software stacks that probably help us enable such new business models, right? In addition to this there will be areas around financing Data-driven financing would be very large which is going to be very easy to do in electrics given the fact They're all connected that you can now relook at how Finance and insurance is going to be done in the future, which would also create a huge on the solution business The fourth area is around energy right energy is going to be replaced by batteries by charging by solar By swapping and all of these new pieces and that by 2030 is an option to be 200 billion dollars, right? Because the energy space is extremely large when you look at this entire industry here, right? So what would be the new ecosystem technologies that then we have to create right? So it's going to be these new solutions around charging and of course battery swapping and v2g will be another big piece on this front connected car and big data analytics We're undermining areas like v2g both from a vehicle or from a swap station But if you start to scale it and say This is a country with 1 million 5 million 10 million 50 million vehicles That is the amount of energy that could come across It could be a huge enabling factor for the country when you look at grid balancing at scale on this front So that would be another big piece and I think what we can't forget is is the global side of it, right? We have to start to think not of just global components But global products and global solutions that we create across this area that we're able to capture the global market on this front You know this market is so so huge that there is not a single silver bullet, right? it's going to be multiple products multiple solutions that are going to coexist and Policies hopefully in the future will be agnostic to them so that we have an environment of entrepreneurship and solutions and Over time they'll settle down to what's right for the market at the early stages, right? Multiple solutions should run because we don't know where they're going to go in the future And they all have different customers and different use cases And that's important to look at that and not be myopic when you're thinking of the future on this front And how does it mean for people and organizations? You know when I think from a team point of view It's a new way of thinking of the future mobility, right? People have to be problem solvers You're not a mechanical engineer electrical engineer or you know a computer engineer you're you understand system solutions You have to go across everything to find answers for this front And that requires us to rethink the kind of organizations we create in the people to enable us to think differently If you're going to look at the future of mobility in the kind of impact it's going to create in the next five to ten years Right. It's also important for us to look across the business models and look at technologies and combine them because that Intersection of business models and technologies is where there will be a lot of disruption happening and we cannot think of them as separate accesses For organizations since you can't do everything. It's about new ways of partnering It's about new ways of getting quicker to market. It's a new ways of looking at Open solutions that come together that you can build on right and and so I think partnerships is going to take a very large role As we look at this and then this whole thing my you know to sense is we got a thing global from day one This is a flat playing field if we don't do it someone globally will come and disrupt us So we might as well do it here and go and disrupt globally on this front And don't think just of the solutions here today if an iPhone is done It can be made anywhere in the world and it's for the same consumer base Similarly the products and solutions we create have to be thought with that mind I heard the buzzer. So I'll just do a parting thought. I've been doing this for over 30 years, right and It's the first time I've seen everything come together Right Oil prices are high cost of renewable energy is the lowest Technology has just gone ways deep way in terms of the pricing of batteries to the technology things there are I Saw a motor the other day, which was 13 kilograms and produced 350 kilowatt of power right that's 500 horsepower. Can you imagine a 13 kilogram motor powering a large truck, right? That's the way the technology is changing on on a solution that we've looked at it, right? Consumer behavior is changing today. They're willing to adopt right and of course policy is so much more favorable today So there's never a better time for us to look at this industry, right? Be part of it make a change a huge change globally and create India as a winner in this space Thanks once again