Electric mobility in India will gain from new product launches and govt policy

Adoption of electric mobility in India will be driven by new products to be launched by automakers and component suppliers in the coming years and the effectiveness of government policies like the production linked incentive scheme and other initiatives, said brokerage firm Emkay Global in a note.

Global automakers already have a wide range of products, which are being introduced either directly (e.g., Mercedes Benz) or through collaborations (e.g., GreenPower. Also, all domestic OEMs and startups like, Ather Energy, are also indigenously developing and launching products. These launches should drive the evolution of consumer profile from ‘early adopters’ and ‘technophile purchasers’ to ‘mass adopters’ over the medium- to longer term, the brokerage mentioned.