FOCUS
AUTO COMPONENTS
- The government
must consider the
Investments required
on the component
makers part, which has
largely been ignored.
hance demand for EVs and better performing vehicles
so as to meet the 2030 target. Additionally, if one
thinks of the long run, it is more economical to own
and maintain an EV. Few Indian consumers are aware
of the potential of EVs. They need to understand that
the technology to power an electric vehicle with solar
power is already available and this investment pays
off faster when the solar power is replacing much
more costly petrol. Also, many have the fear that their
battery will run out and they will get stranded. There
will be options of charging the vehicles at home, the
government will be taking care of fast-charging sta-
tions along highways and in public places that can re-
charge a car/bike in less than 30 minutes.
With a global growth rate of 60% in EVs, India
has the opportunity to become a global player in
the space. Most industry heads are of the opinion
that public transport and fleet operators will have
the greatest opportunity, as these vehicles run the
longest and commute larger number of people. With
the changing mobility landscape, India is seeing a lot
of changes. A spokesperson from Mahindra Electric
says, “When it comes to EVs, a ‘one size fits all’ ap-
proach would not work in India. There is a lack of
a supporting supply chain, manufacturing and infra-
structure ecosystem that deters the pace of adop-
tion. Also, we need to have a supporting government
policy framework that is technology agnostic. There
is a need for initial financial support for businesses to
bring in parity in the tax levied on batteries and EVs.
Products and services need to have a high cost and
value proposition to its users. Unlike other countries,
the Indian market cannot afford subsidies due to the
sheer scale of the industry.”
There are several deterrents that stop Indian con-
sumers from adopting electric vehicles easily: EVs
are definitely more expensive and this is mainly be-INFO:
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