Electric Two Wheeler Demand: The e2w OEMs have to contend with lower financial support from the government in the next fiscal. They also have to face increasing competition from the petrol counterparts of the companies which have distribution and brand strength. These factors drive the e2w OEMs to launch products more affordable to prospective customers.
The EU and U.K. plan to ban new ICE vehicles in favor of EVs, but the move is stumbling and some experts believe the rules should be watered down in favor of hybrids.
India s electric vehicle market is expanding rapidly with government support and increasing consumer awareness. Tata Motors leads the market with a range of popular models, while MG Motor India, Mahindra & Mahindra, and BYD are also prominent players.
Two Wheeler Reduced Prices: Ola Electric, Ather Energy, and Bajaj Auto-owned Chetak Technology have slashed prices of their electric scooter models, narrowing the price gap. Despite challenges, increasing affordability, evolving pricing strategies, and government initiatives are expected to boost the adoption of electric two-wheelers in India.
Executives like Ravi Bhatia from Jato Dynamics, Shahrukh Todiwala from Kotak Mahindra Prime, Santosh Iyer from Mercedes-Benz, and Madan Sabnavis from Bank of Baroda comment on the growing luxury-car financing market in India and the factors driving its growth.