Subsidy withdrawal on EVs may lead to stagnated growth: Ather Energy CEO
Withdrawal of government’s incentive on sale of electric two-wheelers in April would prompt industry players to work hard and this could result into one or two more years of stagnated growth, Ather Energy’s CEO and co-founder Tarun Mehta said on Friday.
“The industry is no longer entirely dependent on subsidies for survival but an early discontinuation of the subsidy in April would prompt industry players to tighten their belts and work hard.
“Despite this resilience, such a scenario would still result in one or two more years of stagnated growth, pushing the industry further away from its targets,” the CEO of the electric two-wheeler firm said in a statement.
