The market for battery-powered vehicles in India is still at a nascent stage, in large part due to high costs associated with owning an electric vehicle.
"Electric vehicles in India are, I would say, a few years behind some of the other countries, largely because of the fact that in India, it's difficult to provide incentives for cars — it's a luxury item," Anish Shah said during a panel at CNBC'sAs most Indians do not own cars, providing subsidies or lower taxes to encourage switching to electric cars is unlikely to work the same way as it would in other countries, Shah explained.
First, the cost of ownership has to come down through short-term subsidies and longer-term production efficiency. It is already happening in certain segments of the auto market, according to Shah. Three-wheelers are a popular mode of transport in many Indian cities, often serving areas that are not covered by buses, taxis and trains — many of them are also powered by batteries.
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