The projected growth in Electric Vehicles will have a significant impact on the rubber industry, according to speakers at ongoing India Rubber Meet 2018 in Kochi, Kerala. Mathew George, General Manager, Petrochemicals, Indian Oil Corporation, pointed out that rubber products will be extensively used in battery cooling systems which are the core of any electric vehicle Battery mounts and dampeners made out of rubber will see an increase.
The spare wheel may go away to be replaced by self-sealing tyres and inbuilt tyre inflators. Many oil seals may no longer be required, he said.
Rakesh Bates, Partner and National Leader, Automotive Sector, Ernst & Young, said India is expected to become the third largest vehicle market by 2020 and this presents a huge opportunity for tyre manufacturers.
To achieve this phenomenal growth, Indian auto and tyre component industry needs to focus on high growth opportunity areas, OEM partnerships, enhanced competitiveness and future readiness, he said.