BEV in India: The Decisive Moment
“ The inflection point of EV is now here! Venkat Rajaraman, CEO of Cygni Energy, said in a presentation at the 2nd Annual E-Mobility India Forum at Messe Frankfurt late last month. The Indian battery electric vehicle (BEV) market is clearly developing from the bottom up, with rapid adoption by two-wheeler buyers (despite various fire incidents linked to electric two-wheelers). Changes in consumer attitudes towards electric two-wheelers are greatly influenced by the incentives offered under the FAME II scheme. However, the FAME II scheme is scheduled to expire on 31 March 2024. Also, the government is unlikely to extend this scheme twice his. It has been extended for two years in June 2021. Therefore, without incentives for buyers, electric two-wheeler sales are expected to slow somewhat. Still, the electric two-wheeler market serves as a starting point for the electrified passenger vehicle (PV) segment. The rationale is that as an electric two-wheeler buyer moves up the economic la