The semiconductor chip supply for the electric two-wheeler industry has normalised but the prices are up by nearly 50 per cent compared to pre-pandemic period, said Eric Vas, president, Urbanite, the electric vehicle (EV) business of Bajaj Auto. It (the supply) has improved greatly. It has pretty much normalised. The problem is the cost. The costs remain very high. Hopefully, the costs will start correcting themselves over this fiscal year, he said in an interview with Business Standard.
Bajaj Auto says it wants to be the world’s largest two- and three-wheeler EV maker outside of China. Click here to find out more on the company’s EV plans.