'The growing demand for EVs in India offers a great business opportunity for us'

Pankaj Khare, Managing Director of LANXESS Performance Materials India tells Mayank Dhingra how the company will be able to sail past a difficult year in general for the industry .

- Mayank Dhingra

THE INCREASING PENETRATION of the electricpropulsion technology across vehicle categories in India is driving demand for lightweight, fire-retardant, and future-proof materials as OEMs look to conserve energy and alleviate the problem of range anxiety associated with EVs. Global performance materials specialist LANXESS Performance Materials is ready with its localised products in India, to support not just vehicles, but the charging infrastructure as well.

On April 1, 2023, LANXESS and Advent International, completed the formation of their engineering materials joint venture (re-named as Envalior), which is the result of the combination of DSM's Engineering Materials business and LANXESS’ former High Performance Materials business. The High Performance Materials business unit of LANXESS has become a separate legal entity named LANXESS Performance Materials (India).

The company talks about its readiness to cater to the industry’s need for lightweight and safe materials with the growing penetration of electric vehicles in the Indian market. Pankaj Khare, Managing Director, LANXESS Performance Materials India, speaks about the company’s future roadmap.

What business growth do you expect from the Indian market in the coming years?

According to the Centre for Economics and Business Research, India's annual GDP growth trajectory is expected to be 6.4 percent over the next five years. Therefore, we can see a clear focus on the manufacturing industry and sustainability leading the way for our economy.

Furthermore, the response to our recent engagement at the PlastIndia 2023 exhibition held at New Delhi’s Pragati Maidan in February 2023, bore testimony to the positive and upward trend in the industry.