The ANAND Group and FAR collaboration will focus on bringing out innovative solutions suited for reducing emissions. The product has the potential for Light Weighting in vehicles by almost 50%, with strength matching that of high strength alloy steel at the weight of aluminium. ANAND Group estimates a potential revenue forecast of around INR 600 Crore by 2025. The collaboration has the potential to positively impact vehicles used in last-mile connectivity, intracity transportation of people and goods across segments of two, three and four-wheelers for a variety of applications.
Light Weighting of the automobile is critical for reducing fuel consumption and emissions, thus creating an opportunity of using smaller engines. FAR-UK has been pioneering design and manufacture of lightweight structural composite solutions. This partnership will explore and create first-to-the-world applications in the automotive sector, unique to India. The goal is to use Carbon Fiber judiciously and efficiently in the composite, which would be engineered for structural strength, deploying innovative manufacturing methods to cater to low and medium volume requirements, in the Indian context.
With increasing sensitivity towards protecting the environment, stringent norms on Green House Gas (GHG) emissions have come into effect across the globe. 196 nations are signatories to the ‘Paris Agreement on Climate Change’ for adaptation of ways to reduce GHG emissions. Around 23% of GHG emissions are contributed by automobiles. Across the globe, the industry is investing heavily in both ICE and Electric propulsion technologies for creating automobiles that help in reducing the release of GHG emissions.
Intended to control GHG emissions, BS-VI norms in India mandate significantly limiting various constituents, mainly Ozone-depleting Carbon Monoxide, Nitrous Oxide and Particulate Matter. The Government is enforcing driving standards through Corporate Average Fuel Efficiency/Economy (CAFE) regulations, with an ambitious goal of reducing emissions to 95 gm of CO2/km in the coming years. The FAME II scheme enables adoption for Full Battery Electric Vehicles. EVs do not have any tailpipe emissions. However, looking at the overall chain of “Well to Wheel”, they have about 20% higher carbon footprint in manufacturing as compared to ICE propelled vehicles.
Thus to make BS-VI and Electric Vehicles economically viable, while reducing emissions, every aspect of vehicle has to be looked at. Light Weighting is one clear way to help achieve targeted emission norms. As the world moves rapidly towards environmentally-friendly vehicles, ANAND Group has committed strategic investments in India, to bring innovative cutting edge technology solutions to OEMs. It has signed an MOU with FAR-UK in the area of Light Weighting.