The Importance of Subsidies in Electric Vehicles

The affordability and the cost of electric vehicles is very high relative to normal traditional fossil fuel-based internal combustion engine. And hence, we see less adoption in the passenger vehicle, which is less than 1%. What's the experience in China, Harold? Well, I think the subsidies have been substantial. The government has made a lot of investments in making sure that there's quite a few charging stations across the nation. In India, that's not the case. That makes the Indian consumer market completely different from the Chinese.