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Over the electric vehicle makers are focused on creating new products like the rubber taxi while this profit is under pressure. and staying with the ev space, could there be more troubles ahead for electric vehicles? writing a literacy cost, plus the end of generous government subsidies have made ev is less popular in some countries. but in norway, nine out of ten cars sold have intellect models. my colleague has been speaking to the state secretary of the region ministry of transport. norwegian. i think that the reason for this is that we introduced a broad package of incentives and, of course, you need a good economics, national economics to do that, but we agreed upon a broad package in long term and medium term that was predictable for the customers and predictable for the private sector. so, it was both for tax incentives but also user incentives for the customers. ....
It is the sector which has led the rally which the market has seen in the last one year. However today when newspaper headlines are talking about India witnessing sales of 4 million cars in 2023, all these major auto stocks are trading with a cut. This is a very simple example of the market discounting the news much before it comes out. The question is whether this correction is just a minor phase of cooling down and the next phase of up move will depend on their EV products. ....
EV Space: The Indian electric vehicle (EV) sector would continue to face regulatory, technology and market headwinds in 2024, said industry officials. ....
Indian Auto Industry: The industry saw 24 CNG PV launches this fiscal as compared to 14 in FY 20. In the case of electric, there were 31 PV launches as compared to 7 models in FY20. Strong hybrids have also seen increased traction, with sales outpacing electric for the first time in last 2 months. Petrol model launches at 111 were lower by 21% and diesel at 54 down by 61%, according to Jato Dynamics. ....