Traditional auto players power up EV play
February 18, 2021
Car and two-wheeler makers ramping up production and charging stations
Home-grown traditional players in the automotive segment continue to make progress in the electric vehicle segment in the post-Covid period with a slew of initiatives even as the EV market in India continues to evolve.
While Covid-19 applied brakes on the development of EV ecosystem in the country, the past couple of months saw some improved activity in the EV market with the gradual opening up of cities.
While the EV market witnessed proliferation of e-rickshaws, other segments were yet to adopt in a big way. But, of late, the electric two-wheeler segment is witnessing a lot of activity with the entry of many new players, mostly driven by the Central and State governments’ promotion schemes, growth of gig economy, traffic congestion in urban areas, and of course, rising fuel prices. Post FAME-II, sales of electric two-wheelers were adversely impacted as eligibility requirements became stricter. Also, the EV ecosystem is not something to brag about.