In 2023, two-wheelers and three-wheelers in India experienced growth of around 37% and 66%. Electric four-wheelers also promised to go down the same path because in that same year, there was a significant increase in sales of electric four-wheelers, 113%.
Now, of course, this is from a lower base, but the signs were clear.
The conventional wisdom or the narrative has been that petrol and diesel cars are going to become a relic of the past. And if you're an automaker and if you're not investing billions of dollars in developing battery technology or newer models with all of this stuff, you are seen as out of touch with reality.
Essentially, electric cars were inevitable.
In 2024, something changed. Demand and sales for electric cars have fallen all over the world. For the first time in almost 12 years, Tesla's sales dropped by 1.1%. And India is also no exception.
If you look at the 2024 numbers, in fact, until October 2024, sales of electric four-wheeler cars in India were actually declining. They had gone down if you compare year-on-year numbers for all of these months. By the end of the year, it sort of increased a little bit, which was helped by the sale of one specific model called MG Windsor and some price cuts.
But in this episode, we're going to pose two questions: Number one, why did electric cars become less attractive? And two, what will make electric cars inevitable again and by when?
Our first guest is Dr Amitabh Saran, founder and CEO of Altigreen Propulsion Labs. Saran used to work at companies like Tata Consultancy Services, Philips, NASA, and Hewlett-Packard before turning to entrepreneurship.
Our second guest is Awadhesh Jha, executive director of Glida India, formerly known as Fortum Charge and Drive India, which is a leading charging solution provider in India. In fact, if you live in Delhi, you will see Glida charging points all over Delhi.
Jha has a long history in power. He used to be a deputy director at the Central Water Commission. Also, he was the vice president of Hindustan Powerprojects Limited, where he administered hydropower development in one of the remotest parts of the country, the Spiti district of Himachal Pradesh.
Welcome to episode 24 of Two by Two.
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This episode of Two by Two was produced by Hari Krishna. Rajiv CN, our resident sound engineer, mixed and mastered this episode.
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