‘EVs won’t need sops once market share surges’ – EQ Mag
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Bhavish Aggarwal, the outspoken entrepreneur making rapid strides in the electric two-wheeler industry, is now championing another unusual idea: End subsidies for electric two-wheelers once their market share reaches double digits.
The government is encouraging adoption of EVs with subsidies, allocating ₹2,908 crore as EV subsidies for FY23, three-and-a-half times the FY22 allocation of ₹800 crore.
“Today, the EV two-wheeler penetration is 4-5%. I think once it is in double digits, the industry shouldn’t need subsidies,” said Aggarwal, co-founder of Ola Electric, which has taken an early lead in the electric scooter space.
Source: livemint
