Subsidies should be cut gradually: Hero Electric MD Naveen Munjal

Subsidies that are currently being provided to boost electric two-wheeler sales should be gradually cut because if they are suddenly stopped, it will break the momentum that this segment has gained in the last couple of years, Naveen Munjal, Managing Director, Hero Electric, said on Tuesday.

“We are not great believers that the subsidy is the way to go in the long run. Our business model is subsidy agnostic. We are building vehicles in a way that they have to be able to sustain themselves,” he said during a panel discussion at Business Standard EV Dialogues.