India being a top automotive manufacturer facing a shortage of EV buyers
Kunal Gupta who is the Co-Founder and CEO of EMotorad, an electric cycle manufacturer in India shared his views on the shortage of EV buyers in India. He shared his thoughts on his LinkedIn profile. He further added what can be done to overcome this scenario.
India is one of the top three auto markets in the world, yet there aren’t enough EV buyers there. India outsold Japan in four-wheel vehicle sales last year with over 4 million units sold, trailing only China and the US.
Yet it faces a shortage of EV buyers. Here’s why:
- India’s electric success has been limited to its two-wheeler market. And, it won’t be easy to replicate for larger vehicles.
- Despite a host of options for consumers, electric cars are too expensive for what they offer drivers.
- The supply of electricity isn’t consistent in many parts and charging larger batteries requires higher capacity and voltage.
What can be done about this? Going hybrid is the more realistic approach or solution. Here’s why:
- Before dismissing it as a transitory idea, it’s worth remembering that’s what we need, a means to an end.
- By this Buyers can test out the electric side with fewer emissions and get through their day without worrying about charging.
- Also, hybrids use a fifth to a quarter of the batteries needed for EVs, making the car cheaper and more efficient.
Reacting to his post, Rajiv Ranjan who is working as Market Development Manager at Mahindra Group added his thoughts.
Automotive is one of the core sectors of the Indian economy and, to a great extent, serves as a bellwether for the current state.
Every stakeholder will play a key role to develop favorable ecosystem building for the Road map to achieve carbon neutrality by 2070.
- Adapt to change, and be quick.
- Innovate & stay ahead.
Taking an early mover advantage bypassing other developed countries. India is in a good position to drive and lead the transition to zero-emission modes of transportation.
Connected vehicles (C), autonomous driving (A), shared mobility (S), and electric (E) is considered to be the future of mobility.
Growth is oxygen for any business. India will silhouette the Global Automotive Sector.
Taking the conversation forward, Mr. Manabendra Dutta who is working as a program manager at Flipkart added his thoughts.
- EV adoption will be more in Metros because. Except for Tata & other bigger brands, new brands cannot provide the kind of service and outreach that is required to tap the rural buyers in India.
- EV will be a second vehicle for almost everyone because of the lack of EV infrastructure. Unless companies don’t spend money on EV parking spaces along with charging stations in tech parks and big residential complexes, it will be hard for consumers to consider EVs as their first option.