The customer’s interest in electric vehicles (EVs) has been growing, according to Rakesh Sharma, Executive Director of Bajaj Auto. While admitting that he may not personally purchase an EV when buying a two-wheeler, Sharma acknowledges that people are considering EVs due to the increased awareness and openness to this option. He also mentions that the discontinuation of the FAME subsidy for the two-wheeler industry may not have a significant impact on the overall growth of the EV market, given the reduced subsidy in recent months. Sharma predicts a 25% growth in the two-wheeler EV industry. He acknowledges the benefits of EVs, such as lower cell prices, but also highlights the challenges, including range anxiety and charging point availability for apartment dwellers. Sharma suggests that EVs will coexist with petrol, CNG, and ethanol vehicles. Regarding the future of Bajaj Auto and its core focus, Sharma believes it is essential to be prepared and well-positioned to respond to market changes. Bajaj Auto’s strategic business unit structure allows the company to have a broad market interface and quickly adapt to shifting market demands.
Bajaj Auto Executive Director Rakesh Sharma Discusses the Future of the EV Two-Wheeler Industry
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