Rajeev Singh from Deloitte India discusses the slowdown in EV sales in India, challenges like limited charging infrastructure, and Tata Motors revising sales targets. They explore government subsidies, hybrid models, and customer experiences, comparing India's approach with China's NEV policy.
EV sales in India are challenged by limited charging infrastructure and range issues.
Hybrid vehicles are proposed as a transitional solution to overcome range anxiety.
Deep dives
Global Slowdown in EV Sales
Despite the initial expansion in electric vehicle (EV) sales, there has been a global slowdown observed, affecting markets including India. The growth rate has decreased significantly, with sales numbers even declining in comparison to previous quarters. The slowdown is noticeable in countries like the US and India, with factors like reduced government subsidies impacting consumer demand.
Challenges in India's EV Market
India's EV market faces hurdles such as inadequate charging infrastructure, higher pricing compared to traditional vehicles, and limited choices for customers, particularly in the mass-market segment. Companies like Tata Motors have revised their sales projections downward due to these challenges, indicating a need for a more robust ecosystem and increased consumer confidence.
Transition from Hybrids to EVs in India
The debate between hybrids and full-fledged EVs in India highlights the need for a strategic shift in the automotive industry. Emphasizing the importance of overcoming range anxiety and enhancing charging infrastructure, experts suggest hybrid vehicles as a potential transitional solution. The focus on making EVs more affordable and accessible remains crucial for widespread adoption, especially in a diverse market like India.
Electric vehicle sales are slowing down in India, following a global trend they had bucked until as late as June.Champions of the EV story like Tata Motors are revising their sales guidance downwards, even as challenges of limited charging infrastructure and range loom large. Host Anirban Chowdhury analyses the problem and discusses possible solutions with Rajeev Singh, leader, consumer industry, Deloitte India and ET’s Sharmishtha Mukherjee.