Bengaluru, Oct 14 (UNI) Clean mobility investor and entrepreneur Shreyas Shibulal has welcomed the union government's reduction in GST rates and other incentives for the sector but cautioned that such measures are temporary, emphasising that long-term growth will depend on innovation, scalability, and customer value.
"Incentives are temporary. Ultimately, what sustains the sector is the strength of the product and the value it offers customers," Shibulal, the son of Infosys co-founder SD Shibulal, told UNI.
"While government incentives such as GST reductions help catalyse adoption, the industry must be strong enough to thrive even after they fade away. Investors understand that incentives come and go, so our focus remains on innovation and market readiness," he added.
Shibulal, founder and Director of Micelio Mobility, has a background in embedded systems engineering. He said his entry into clean mobility was driven by both sustainability goals and the government's early policy push in 2019. "Clean mobility stood out because of its sustainability aspect and the government's focus on creating a conducive policy framework. It felt like the right space at the right time," he said.
Outlining his investment approach, he said his decisions are guided by three key factors — the founders, their technology, and scalability. "We look for founders who bring a strong vision, innovative technology, and the ability to build a sustainable and scalable enterprise," he explained.
On the funding environment, Shibulal said investor sentiment is increasingly upbeat as the clean mobility ecosystem becomes more diverse. "It's no longer a homogeneous space. Today, there are startups working on everything from vehicle manufacturing to powertrain systems, component innovation, and adjacent technologies," he said.
Highlighting examples of innovation, he said companies are now going beyond traditional mobility models to focus on high-impact technologies such as carbon nanotube production and battery recycling. "There's significant activity in battery recycling, which is becoming a critical part of the clean mobility value chain," he added.
While reaffirming that his primary focus remains on clean mobility, Shibulal said adjacent areas such as clean energy and electronic waste recycling are increasingly relevant because of their direct link to mobility solutions. "We are focused on the India story, but cross-border partnerships can help strengthen our ecosystem further. We are already engaging with trade bodies and international partners to facilitate such collaborations," he said.
Expressing confidence in the sector's trajectory, Shibulal said India's electric vehicle penetration has already touched 7.8 percent, a figure he described as "exponential growth."
"The government's ambitious targets are realistic, and we expect continued momentum over the next five years," he noted.
Discussing his company's role in the evolving ecosystem, he said, "We began as a shared engineering facility, and now our focus is on deepening collaborations. For instance, our digital twin facility with ARAI is a major step forward. Working with institutions like ARAI gives us valuable insight into future needs and regulatory directions."
On his investment portfolio, Shibulal said several companies have raised follow-on funding, reinforcing investor confidence in the clean mobility sector. "Some of our portfolio companies have raised follow-on funding, which validates our conviction in this space," he said.
Shibulal concluded that India's clean mobility future will depend on a combination of sustained innovation, collaborative partnerships, and a robust domestic manufacturing base supported by evolving policy frameworks.
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