The Centre has ambitious plans to increase the adoption of electric vehicles (EVs) in India. It wants to increase the its share by increasing sales -- 30 per cent for private cars, 70 per cent for commercial vehicles and 80 per cent for two and three-wheelers by 2030. The government introduced incentives -- the FAME scheme --to achieve this. However, it has rolled back some of these subsidies recently. How will this affect the segment?
In this episode of the State of the Economy podcast, businessline’s S Ronendra Singh talks toAyush Lohia, CEO, Lohia Auto Industries, to understand the dynamic landscape of the segment in India. They discussed the growth in recent months and how electric two- and three-wheelers are competing with traditional internal combustion engine (ICE) vehicles in retail sales.
In the podcast, Lohia explained how the government’s subsidies helped the segment grow and how the reduction in subsidies had a noticeable effect on sales. They also touched upon the urban-rural divide in EV adoption and how the urban areas will lead in the transition process. They also discussed the benefits of a battery-swapping policy and how battery swapping can reduce costs.
Listen to the podcast to gain an understanding of ongoing challenges in the EV market, and how subsidies can aid India’s transition to sustainable mobility.
(Host: S Ronendra Singh, Producers: Anjana PV, V Nivedita)
About the State of the Economy podcast
India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.