MUMBAI: Despite the aggressive policy push and drive by automakers, electric vehicle’s penetration will remain under 5 per cent over the next five years in the 3-million units annual auto market, as per a report.
Rating agency Icra has blamed this to the higher vehicle cost due to costly imported batteries, weak public charging infrastructure and inadequate government support.
It can be noted that globally, EV penetration has been enabled by regulatory support and wider availability of charging stations, with the US and China being the best examples, where there is the mandatory zero-emission rules, and restricted licensing for new petrol/diesel vehicles, respectively.
