Startups look to outpace OEMs in India’s electric vehicle space
Two years ago, startup firm Ather Energy Pvt. Ltd took a leap in the dark, launching two electric scooter models in India—340 and 450—a segment to which most established automakers gave a wide berth because the path to profits was unclear.
Despite the Modi administration’s grand vision to boost electric vehicle sales, lack of charging infrastructure and uncertainty over demand for higher-priced green vehicles have daunted most conventional manufacturers.
But a clutch of startup firms have revved up into the segment as they see a huge pay-off, if they get the technology and product right. Unlike for other vehicles, they are betting on their advantages of nimbleness and adaptability, just like US-based Tesla, to edge past conventional players.
