How Government Policies Are Changing The Electric Vehicles Market?

How Government Policies Are Changing The Electric Vehicles Market?

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A recent string of policy announcements by the government to push for the adoption of electric vehicles (EVs) has been a certain sentiment boost for prospective buyers.

But are these subsidies driving real demand? Are people queueing up at showrooms to buy electric two-wheelers that have been made substantially more affordable now? To get answers to these questions and more, CNBC-TV18’s Alisha Sachdev spoke to Managing Director of Hero Electric Naveen Munjal.

According to him, the company is already seeing higher sales because “prices have dropped substantially”. The cap on the amount of subsidies that can be offered has gone up to allow more room for a reduction in prices, he said.

That is a shift from the previous version of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicle (FAME)-II policy, which according to Munjal, did not create a good retail offtake.

But the cost is just one piece of the pie.

In this episode of the Smooth Ride Podcast, Alisha Sachdev speaks to the country’s largest electric two-wheeler manufacturer about the biggest points of resistance for customers — beyond costs — that constrain mass adoption of EVs.

They also discuss how the market is shifting definitively towards an extended range of e-two-wheelers, charging infrastructure (and whether it makes any money for the business), and how upstarts in the e-two- wheeler space will shape the market.

Tune in to the Smooth Ride podcast for more.

(Edited by : Kanishka Sarkar)

First Published:  IST

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