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Zerodha co-founder Nikhil Kamath said its biggest bet this year has been on electric vehicles. He said they invested in everything from scooters and buses to trucks and will hopefully invest in air taxis next.
Kamath had also earlier said that he was optimistic about the sector. In one of the episodes of his podcast, ‘WTF is with Nikhil Kamath’, the billionaire stated that sectors such as electric vehicle companies, battery manufacturers and solar energy companies are especially lucrative.
In a social media post on Wednesday, Kamath said: “The biggest bet this year for me has been that all vehicles will be electric one day; “We have invested in everything from scooters to buses, trucks and maybe air taxis next…”
He said the transition to electric vehicles could be accelerated by learning about climate issues. “In addition, we expect the drop in cost per trip kilometer to offset the initial arbitrage in capital spending,” he said.
Along with the social media post, he also posted snapshots of research by FinFloww and Gruhas that claimed that renewable energy accounts for 46.3 percent of India’s total installed capacity by October 2024. This growth, the company added. research, is in line with that of India. target of 500 GW or 50 percent of energy from renewables by 2030.
The research also supported the importance of battery energy storage systems (BESS) that can store excess energy when demand is low and release it during peak hours. The research added that BESS can reduce the energy bill by reducing peak demand charges, providing backup during power outages, reducing the use of fossil fuels and reducing emissions, and stabilizing the grid by balancing demand and supply.
In a previous episode of his podcast, featuring Badshah, Kriti Sanon and KL Rahul, Kamath said the energy transition sector is a key area of opportunity. “The energy transition is such a big deal in the world; most of the wars in our history have been fought over it,” Kamath said.
Kamath said the power sector may not be very glamorous but it offers substantial returns, especially in light of government incentives. He advised businessmen to avoid overcrowded industries.
