It could provide a template for other countries on how to combat climate change with pricey EVs. Read more at straitstimes.com.
NEW DELHI - In the United States, luxury car buyers are snapping up Teslas and other electric cars that cost more than US$60,000 , and even relatively cheap models cost more than US$25,000.
India's success with the low-cost vehicles is also providing a template for how developing countries could ditch combustion engines and combat climate change without pricey electric cars. Americans bought about 487,000 new electric cars in 2021, a 90 per cent increase from 2020, according to Kelley Blue Book.
"There are many regions in the world which don't buy a US$60,000 car," said Bhavish Aggarwal, the 37-year-old founder and chair of Ola Electric, which makes electric mopeds at a factory in the southern state of Tamil Nadu. "If you are able to electrify two-wheelers and three-wheelers, you will have changed the game," said Amitabh Kant, a former CEO of Niti Aayog, the government agency that created a subsidy programme for electric two- and three-wheeled vehicles in 2015.
Competition and subsidies have made electric mopeds and rickshaws as cheap as or cheaper than internal-combustion-engine models. PHOTO: NYTIMES The transition clearly will take time. Indian automakers sold more than 16 million cars, buses, mopeds, rickshaws and other vehicles in the 12 months that ended in March, and only 2.6 per cent were electric.
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