Scouting partners for NextGen EVs at Auto Expo 2018

Covestro’s Talented Materials Inspire Future Electric, Autonomous Vehicle Designs

Fifty years ago, the business of Covestro, at that time part of Bayer, pushed the boundaries automotive innovation by introducing the first car with an all-plastic body.

At Auto Expo 2018, Covestro, one of the largest high-tech polymer materials and innovative product solutions manufacturers for key industries including automobile sector, will highlight the global solutions crafted for the automotive industry keeping that in line with the trend of future mobility.

The company will drive automotive innovation forward with high-tech materials and advanced technologies that make the autonomous – or self-driving – electric vehicle of the future possible.

Commenting on its participation at the Auto Expo 2018, Ajay Durrani, Managing Director, Covestro India said, “With the government ushering in a trend of EVs, we are excited to work with the mobility industry to not just work on the materials that makes an EV work more efficiently and look great, but also work on the materials that would help build a sustainable infrastructure to support the EVs. We see immense opportunity for high-tech polymers in the current ICE (internal combustion engine) driven, as well as, the future mobility space. By participating in this show, we would like to engage in the joint development projects with the Indian OEMs and also explore partnerships in the space of next generation electric vehicles.”

Visitors to the show will witness how Covestro continuously pushes boundaries in innovation with its high-tech materials and advanced technologies that make the ICE vehicles, self-driving cars as well as electric vehicle (EVs) of the future more sustainable and eco-sensitive. A range of products from the advanced glazing technologies, holographic lighting, EV battery packaging etc will be at the show.

India is one of the fastest growing automobile markets in the world. It is expected to touch a market opportunity value of USD260 to 300 billion by FY2026, at a CAGR of 12.87% . Of these, a significant growth will be contributed by electronic vehicles, owing to sustainable mobility drive by the government.

1 https://www.ibef.org/download/Automobile-April-2017.pdf

****

About Covestro India

Covestro India is renowned manufacturer of high-tech polymer materials and innovative product solutions for key industries. Headquartered in Thane, Covestro India caters to key industry segments such as Automotives, Construction and Electro & Electronics through pan India distribution network. The company is very well established in India with three manufacturing facilities across the country at Greater Noida, Ankleshwar and Cuddalore.

Covestro has over 386 employees and with its innovative products and solutions is committed to work towards the principle of sustainability.

About Covestro AG

With 2016 sales of EUR 11.9 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 15,600 people (calculated as full-time equivalents) at the end of 2016.

Find more information at www.covestro.com
ro    (2016-015E)

Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s and Bayer’s public reports which are available on the Covestro website at www.covestro.com as well as on the Bayer website at www.bayer.com. Covestro and Bayer assume no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.